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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

  1. 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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