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Prepare a classified balance sheet

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Reference no: EM132680057

Problem - Balance sheet - My-Best Weight Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2012, the end of the current fiscal year, the balances of selected accounts from the ledger of My-Best Weight Co. are as follows:

Accounts Payable

$ 34,500

 

Prepaid Insurance

$ 19,200

Accounts Receivable

83,120

 

Prepaid Rent

12,000

Accumulated Depreciation-Equipment

103,900

 

Retained Earnings

512,000

Capital Stock

180,000

 

Salaries Payable

13,500

Cash

?

 

Supplies

2,080

Equipment

300,000

 

Unearned Fees

10,000

Land

400,000

 

 

Required - Prepare a classified balance sheet that includes the correct balance for Cash.

Reference no: EM132680057

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