Question

Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals After all the accounts have been closed on June 30, 2018, the end of the fiscal year, the balances of selected Accounts payable $38,000 Accounts receivable 117,250 Accumulated depreciation-equip Cash ? Common stock 75,000 Equipment 477,000 Land 300,000 Prepaid insurance 8,000 Prepaid rent 24,600 Retained earnings 635,900 Salaries payable 8,400 Supplies 5,000 Unearned fees 17,800 ment 186,800 Prepare a classified balance sheet that includes the correct balance for Cash. Land must be entered as the first fixed asset. Be sure to complete the statement heading. Be sure to complete the statement wording of text entries. Negative amounts should be indicated by a minus sign You will not need to enter colons (: or the word Less on the balance sheet, they will automatically insert where necessary Labels and Amounts Descriptions Dynamic Weight Loss Co Balance Sheet (Label) Labels Current assets Current liabilities Expenses For the Year Ended June 30, 2018 June 30, 2018 Property, plant, and equipment Revenues Assets (Label Amounts Descriptions Book value-equipment Decrease in r Increa Less dividends Net income Net loss Plus dividends Retained eamings, December 1, 2015 Retained eanings, June 30, 2018 Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders equity Total property, plant, and equipment Total stockholders equity etained eanings se in retained earnings 15 Prepare a classified balance sheet that includes the correct balance for Cash Land must be entered as the first fixed asset. Be sure to complete the statement heading Be sure to complete the statement wording of text entries. Negative amounts should be indicated by a minus sign. You will not need to enter colons () or the word Less on the balance sheet, they will automatically insert where necessary v (Label) Soockholdes Equity

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Hi

Let me know in case you face any issue:

Solution: Third coloumn is there, may be for total: Because, presentation can be made in any manner: Balance Sheet June 30, 2018 Assets: Current Assets: Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Total Current Assets Property, Plant, and Equipment: Land Equipment Accumulated Depreciation - Equipment Book value Equipment (or Equipment, Net) or Leave Blank Total Property, plant and Equipment Total Assets Liabilities: Current Liabilities: Accounts Payable Salaries Payable Unearned Fees Total Current Liabiliities Stockholders Equity: Common Stock Retained Earning June 30, 2018 Total Stockholders equity Total Liabilities and Stockholders equity (plug)(775100-745050) 30050 117250 5000 8000 24600 184900 300000 477000 186800 290200 590200 775100 38000 8400 17800 64200 75000 635900 710900 775100

Add a comment
Know the answer?
Add Answer to:
Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals After all the accounts...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Instructions Balance Sheet Labels and Amounts Descriptions Labels Dynamic Weight Loss Co. offers personal weight reduction...

    Instructions Balance Sheet Labels and Amounts Descriptions Labels Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed 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: Prepare a classified balance sheet that includes the correct balance for Cash. Land must be entered as the first fixed asset. Be sure to complete the statement heading...

  • Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all...

    Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed 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 Accounts Receivable Accumulated Depreciation - Equipment Common Stock $11,030 26,580 33,200 180,000 Cash Equipment Land Prepaid Insurance 95,960 120,000 6,180 3,860 41,260 4,300 Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees...

  • Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all...

    Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed 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 $11,300 27,230 Accounts Receivable Accumulated Depreciation - Equipment Common Stock Cash 34,010 180,000 Equipment Land 98,310 131,000 6,330 3,950 46,680 Prepaid Insurance Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees 4,410...

  • Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all...

    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...

  • Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all...

    Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2017, 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 ? Common Stock 100,000 Equipment 325,900 Land 375,000 Prepaid Insurance 8,400 6,000 620,300 Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees...

  • Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all...

    Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2017, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows: Accounts Payable $9,060 Accounts Receivable 21,830 Accumulated Depreciation - Equipment 27,270 Common Stock 180,000 Cash ? Equipment 78,820 Land 105,000 Prepaid Insurance 5,070 Prepaid Rent 3,170 Retained Earnings 1,740 Salaries Payable 3,530 Supplies 540...

  • EX 4-12 Balance sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals....

    EX 4-12 Balance sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 20Y7, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows: Obj. 2 Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Common Stock Equipment Land $ 8,400 6,000 620,300 7,500 11,200 21,000 $ 51,200 Prepaid Insurance 187,500 Prepaid Rent 186,000 Retained Earnings ? Salaries...

  • Balance sheet Labels and Amounts Descriptions Balance Sheet Instructions Dynamic Weight Loss Co. offers personal weight...

    Balance sheet Labels and Amounts Descriptions Balance Sheet Instructions Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2017, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows: $38,000 116,500 185,200 ? Accounts payable Accounts receivable Accumulated depreciation equipment Cash Common stock Equipment Land Prepaid insurance Prepaid rent Retained earnings Salaries payable Supplies Uneamed fees...

  • Instructions Chart Of Accounts Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance S Instructions...

    Instructions Chart Of Accounts Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance S Instructions Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 2018, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows: Foxy Investigative Services End-of-Period Spreadsheet For the Year Ended November 30, 2018 - Adjusted Trial Balance Dr. Account Title Cr. Cash 27,500 Accounts...

  • Instructions Chart Of Accounts Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance S Instructions...

    Instructions Chart Of Accounts Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance S Instructions Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 2018, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows: Foxy Investigative Services End-of-Period Spreadsheet For the Year Ended November 30, 2018 - Adjusted Trial Balance Dr. Account Title Cr. Cash 27,500 Accounts...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT