Accounts Payable $37,700 Accounts Receivable 116,750 Accumulated Depredation-Equipment 186,400 Cash Equipment 474,150 Land 300,000 Prepaid Insurance $7,200 Prepaid Rent 21,000 Salaries Payable 9,000 Cheryl Viers, Capital 710,300 Supplies 4,800 Unearned Fees 18,000
Accounts Payable $37,700 Accounts Receivable 116,750 Accumulated Depredation-Equipment 186,400 Cash Equipment 474,150 Land 300,000 Prepaid Insurance $7,200 Prepaid Rent 21,000 Salaries Payable 9,000 Cheryl Viers, Capital 710,300 Supplies 4,800 Unearned Fees 18,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Balance sheet
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:
Prepare a classified balance sheet that includes the correct balance for
Cash
Transcribed Image Text:Accounts Payable
$37,700
Accounts Receivable
116,750
Accumulated Depredation-Equipment 186,400
Cash
Equipment
474,150
Land
300,000
Prepaid Insurance
$7,200
Prepaid Rent
21,000
Salaries Payable
9,000
Cheryl Viers, Capital
710,300
Supplies
4,800
Unearned Fees
18,000
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