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Optimum Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts...

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Accounting

Optimum Weight Loss Co. offers personal weight reductionconsulting services to individuals. After all the accounts havebeen closed on November 30, 2019, the end of the fiscal year, thebalances of selected accounts from the ledger of Optimum WeightLoss Co. are as follows: Accounts Payable $37,200 AccountsReceivable 118,550 Accumulated Depreciation-Equipment 187,000 Cash? Equipment 477,200 Land 300,000 Prepaid Insurance 6,200 PrepaidRent 21,900 Salaries Payable 9,300 Cheryl Viers, Capital 714,600Supplies 4,500 Unearned Fees 17,300 Prepare a classified balancesheet that includes the correct balance for Cash. Fixed assets mustbe entered in order according to account number. Be sure tocomplete the statement heading. Use the list of Labels and AmountDescriptions for the correct wording of text items other thanaccount names. You will not need to enter colons (:) or the word"Less" on the balance sheet; they will automatically insert wherenecessary.

Answer & Explanation Solved by verified expert
3.6 Ratings (388 Votes)
OPTIMUM WEIGHT LOSS COBalance SheetNovember 30 2016AssetsLiabilitiesCurrent assetsCurrent    See Answer
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