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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
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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 of the The annual accounting period adopted by a business.fiscal year, the balances of selected accounts from the ledger of Optimum Weight Loss Co. are as follows:
Accounts Payable $11,000 Accounts Receivable 26,510 Accumulated Depreciation - Equipment 33,110 Cash ? Equipment 95,700 Land 127,000 Prepaid Insurance 6,160 Prepaid Rent 3,850 Salaries Payable 4,290 Cheryl Viers, Capital 220,660 Supplies 660 Unearned Fees 3,190 Prepare a classified balance sheet that includes the correct balance for Cash.
Optimum Weight Co. Balance Sheet November 30, 2019 Assets Current assets: - Accounts payable
- Accumulated depreciation
- Blanca Tierney, Capital
- Cash
- Equipment
$ - Accounts payable
- Accounts receivable
- Blanca Tierney, Capital
- Equipment
- Salaries payable
- Accounts payable
- Blanca Tierney, Capital
- Equipment
- Land
- Supplies
- Accumulated depreciation
- Blanca Tierney, Capital
- Equipment
- Prepaid insurance
- Unearned fees
- Accounts payable
- Equipment
- Land
- Prepaid rent
- Unearned fees
Total current assets $ Property, plant, and equipment: - Accounts receivable
- Blanca Tierney, Capital
- Land
- Supplies
- Unearned fees
$ - Accounts receivable
- Equipment
- Prepaid rent
- Supplies
- Unearned fees
$ - Less accounts payable
- Less accumulated depreciation
- Less cash
- Less equipment
- Less unearned fees
Total property, plant, and equipment Total assets $ Liabilities Current liabilities: - Accounts payable
- Accounts receivable
- Blanca Tierney, Capital
- Cash
- Supplies
$ - Cash
- Equipment
- Prepaid insurance
- Prepaid rent
- Salaries payable
- Accounts receivable
- Cash
- Land
- Supplies
- Unearned fees
Total liabilities $ Owner's Equity - Accumulated depreciation
- Cheryl Viers, Capital
- Equipment
- Prepaid insurance
- Unearned fees
Total liabilities and owner's equity $
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