offers personal weight reduction consulting services to individuals

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: Accounts Payable $8,710 Accounts Receivable 20,990 Accumulated Depreciation – Equipment 26,220 Cash ? Equipment 75,780 Land 101,000 Prepaid Insurance 4,880 Prepaid Rent 3,050 Salaries Payable 3,400 Cheryl Viers, Capital 174,720 Supplies 520 Unearned Fees 2,530 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 Supplies Prepaid insurance Prepaid rent Total current assets $ Property, plant, and equipment: Land $ Equipment $ Less accumulated depreciation Total property, plant, and equipment Total assets $ Liabilities Current liabilities: Accounts payable $ Salaries payable Unearned fees Total liabilities $ Owner’s Equity Cheryl Viers, Capital Total liabilities and owner’s equity $

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