Question
Optimum Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2016, the end
Optimum Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2016, the end of the fiscal year, the balances of selected accounts from the ledger of Optimum Weight Loss Co. are as follows:
Accounts Payable $37,700
Accounts Receivable 116,750
Accumulated Depreciation-Equipment 186,400
Cash ?
Common Stock 75,000
Equipment 474,150
Land 300,000
Prepaid Insurance 7,200
Prepaid Rent 21,000
Retained Earnings 635,300
Salaries Payable 9,000
Supplies 4,800
Unearned Fees 18,000
Prepare a classified balance sheet that includes the correct balance for Cash. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other account names. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary.
pare disisfied balance ieNetthat ge dudes the correa balance for Cash-Fixed asse s must be entired in order accordingaceanteumber. Be sure compese the aasanNnt heading. ue the hie of ldibeta and Amount Deservpaces for she corred wording of aint dimes hie account names You not need Opanan weight uses co. Noveebaz 30, 2016 ICaart a 4-1 S4plies 4,800.00 | Pispaid learao | Papid rent 10( Land $300,000.00 111 Equipmanr $474,150.00 Loss acursulated dapsclatias agaiprart uabanes e/ Cuiant lablis Accaunts Payable $37,700.00 18,000.00 Stockholders' Equity ul Carman stack $75,000.00 | Ratarec earnings Taullaimes and tuckholders' equityStep by Step Solution
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