**** I want to know in what im wrong and what im missing, Thank you****Balance SheetEasy Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 20Y7, the end of the fiscal year, the balances of selected accounts from the ledger of Easy Weight Loss are as follows: Line Item DescriptionAmountAccounts Payable$10,160Accounts Receivable24,490Accumulated Depreciation - Equipment30,580Cash?Common Stock180,000Equipment88,390Land118,000Prepaid Insurance5,690Prepaid Rent3,560Retained Earnings23,810Salaries Payable3,960Supplies610Unearned Fees2,950 eBookShow Me HowPrepare a classified balance sheet that includes the correct balance for Cash.Easy Weight Loss Co.Balance SheetNovember 30, 20Y7Line Item DescriptionCurrent assets:CashAccounts receivableSuppliesPrepaid insurancePrepaid rent MVVTotal current assetsProperty, plant, and equipment:LandTotal assetsEquipment✓ ✓Accumulated depreciation equipment✔✓ ✓Book value-equipmentTotal property, plant, and equipmentCurrent liabilities:Total liabilitiesAssetsAccounts payableSalaries payableUnearned feesCheck My WorkCommon stockLiabilitiesStockholders' EquitySearchAmount88,39030,580Amount$220,88024,4906105.6903,560118.000118,000 X10.1603.9602.950180.000!XAmount186,530 X17.070All work saved.L O IA W eBookpara LTotal current assetsProperty, plant, and equipment:Land GVEquipment IVAccumulated depreciation - equipmentBook value-equipmentTotal assetsTotal property, plant, and equipmentCurrent liabilities:Accounts payableSalaries payableUnearned feesTotal liabilitiesLiabilitiesCommon stockRetained earnings EVFeedbackVStockholders EquityTotal stockholders' equityTotal liabilities and stockholders' equityCheck My WorkShow Me HowSearch$88,39030,580118.000118,000 X10.1603,9602,950180,00023,810 Voker=&takeAssicIA186,53017.070203.810Check My WorkRemember that the balance sheet is a formal representation of the accounting equation, such that Assets Liabilitiesassets are separated into current and Property, Plant & Equipment (long-term assets), and liabilities are separated int220.880All work saved.WX

Balance sheet is the financial statement which is prepared by the entity to depict its financial…

Answered: Easy Weight Loss Co. offers personal…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.10AP

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**** I want to know in what im wrong and what im missing, Thank you****

Balance Sheet

Easy Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 20Y7, the end of the fiscal year, the balances of selected accounts from the ledger of Easy Weight Loss are as follows:

Line Item Description	Amount
Accounts Payable	$10,160
Accounts Receivable	24,490
Accumulated Depreciation - Equipment	30,580
Cash	?
Common Stock	180,000
Equipment	88,390
Land	118,000
Prepaid Insurance	5,690
Prepaid Rent	3,560
Retained Earnings	23,810
Salaries Payable	3,960
Supplies	610
Unearned Fees	2,950

eBook
Show Me How
Prepare a classified balance sheet that includes the correct balance for Cash.
Easy Weight Loss Co.
Balance Sheet
November 30, 20Y7
Line Item Description
Current assets:
Cash
Accounts receivable
Supplies
Prepaid insurance
Prepaid rent MV
V
Total current assets
Property, plant, and equipment:
Land
Total assets
Equipment
✓ ✓
Accumulated depreciation equipment
✔
✓ ✓
Book value-equipment
Total property, plant, and equipment
Current liabilities:
Total liabilities
Assets
Accounts payable
Salaries payable
Unearned fees
Check My Work
Common stock
Liabilities
Stockholders' Equity
Search
Amount
88,390
30,580
Amount
$220,880
24,490
610
5.690
3,560
118.000
118,000 X
10.160
3.960
2.950
180.000!
X
Amount
186,530 X
17.070
All work saved.
L O IA W

eBook
para L
Total current assets
Property, plant, and equipment:
Land GV
Equipment IV
Accumulated depreciation - equipment
Book value-equipment
Total assets
Total property, plant, and equipment
Current liabilities:
Accounts payable
Salaries payable
Unearned fees
Total liabilities
Liabilities
Common stock
Retained earnings EV
Feedback
V
Stockholders Equity
Total stockholders' equity
Total liabilities and stockholders' equity
Check My Work
Show Me How
Search
$88,390
30,580
118.000
118,000 X
10.160
3,960
2,950
180,000
23,810 V
oker=&takeAssic
IA
186,530
17.070
203.810
Check My Work
Remember that the balance sheet is a formal representation of the accounting equation, such that Assets Liabilities
assets are separated into current and Property, Plant & Equipment (long-term assets), and liabilities are separated int
220.880
All work saved.
W
X

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