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Optimum Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2019, the end
Optimum Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2019, the end of the fiscal year, the balances of selected accounts from the ledger of Optimum Weight Loss Co. are as follows: Accounts Payable $10,490 Accounts Receivable 25,280 Accumulated Depreciation - Equipment 31,570 Cash Equipment 91,260 122,000 Land Prepaid Insurance 5,870 Prepaid Rent 3,670 4,090 Salaries Payable Cheryl Viers, Capital 210,430 630 Supplies Unearned Fees 3,040 Prepare a classified balance sheet that includes the correct balance for Cash. Optimum Weight Co. Balance Sheet November 30, 2019 Assets Current assets: Cash Accounts receivable 25,280 Supplies 630 Prepaid insurance 5,870 Prepaid rent 3,670 Total current assets Property, plant, and equipment: Land $ 122,000 Equipment 91,260 Less accumulated depreciation Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable 10,490 Salaries payable 4,090 Unearned fees 3,040 Total liabilities Owner's Equity Total liabilities and owner's equity
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