Question

Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been dosed on June 30, 2018, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows: Accounts Payable $51,200 Accounts Receivable 187,500 Accumulated Depreciation Equipment 186,000 Cash 2 Common Stock 100,000 Equipment 325,900 Land Prepaid Insurance Prepaid Rent 375,000 8,400 6,000 620,300 Retained Earnings Salaries Payable Supplies Uneamed Fees 7,500 11,200 21,000

Answer 1

Ansa Dynamic Weight Loss co. Balance sheet June 30, 2018 Assets Current Assets is Cash $72,000 $187,500 311,200 Accounts Receivable Supplies Prepaid Irnsusanie Prepaid chent $ 8400 $6,000 $285,100 Total current Assets Property, plant, and Equipment: land $375,000 Equipment $325,900 Accumulated depreviation requipment ($186, 0.00) Book Value - equipment $139,900 Total property, plant, and Eauipssent $514,900 $800,000 Total Assets

Liabilities Current Liebilities, Accounts payable Salaries payable $ 51,200 $7,500 Chrowed fees $21,000 $ 79,700 Total Liabilities stockholden's Equity Comman stock $100,000 Retained Earnings $620,300 Tokal stockholden's Equity fotel Liabilities and stockholden's Equity $720,300, $800,000

Working:-

Cash = $800,000 - $514,900 - $6,000 - $8,400 - $11,200 - $187,500

Cash = $72,000

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