Balance Sheet MaxFit Weight Loss Co. offers personal weight reduction consulting services to individuals. After all been closed on November 30, 20Y4, the end of the fiscal year, the balances of selected accounts fr MaxFit Weight Loss Co. are as follows: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Equipment Land Prepaid Insurance Prepaid Rent Salaries Payable $ 44,800 138,600 221,300 Supplies Unearned Fees ? 563,000 356,200 8,500 24,900 10,700 5,700 21,400 Vanessa Freeman, Capital 843,400 Assets $177,700 697.900 138600 Prepare a classified balance sheet that includes the correct balance for Cash. Maxfit Weight Loss Co. Balance Sheet November 30, 20Y4 Assets OOLS 0258 24
Balance Sheet MaxFit Weight Loss Co. offers personal weight reduction consulting services to individuals. After all been closed on November 30, 20Y4, the end of the fiscal year, the balances of selected accounts fr MaxFit Weight Loss Co. are as follows: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Equipment Land Prepaid Insurance Prepaid Rent Salaries Payable $ 44,800 138,600 221,300 Supplies Unearned Fees ? 563,000 356,200 8,500 24,900 10,700 5,700 21,400 Vanessa Freeman, Capital 843,400 Assets $177,700 697.900 138600 Prepare a classified balance sheet that includes the correct balance for Cash. Maxfit Weight Loss Co. Balance Sheet November 30, 20Y4 Assets OOLS 0258 24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
How do I find the cash
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Current assets:
Cash
Print Item
Prepare a Classined Dalance sheet that includes the confect Dalalice for Cash.
Accounts receivable
X
Supplies
Prepaid insurance
Prepaid rent
Equipment
Total current assets
✔
Total assets
Property, plant, and equipment:
Land
✓
Current liabilities:
✓
Unearned fees
Total liabilities
CengageNOWv2 | Online teach X
Less accumulated depreciation
Accounts payable
Salaries payable
Check My Work
Jay
✓
Total property, plant, and equipment
✓
Maxfit Weight Loss Co.
Balance Sheet
November 30, 20Y4
✔
✔
Assets
$ 563,000 ✓
LA
+
221,300 ✓
Liabilities
$ 640,200 X
138,600
5,700
8,500
24,900
X>
$ 356,200 ✓
✓
341,700 ✓
10,700
$ 44,800 ✔
All work saved.
21,400 V
$
$
697,900
X
X
$ 76,900 V
Transcribed Image Text:9/11/22, 9:17 PM
Balance Sheet
MaxFit Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts hav
been closed on November 30, 20Y4, the end of the fiscal year, the balances of selected accounts from the ledger of
MaxFit Weight Loss Co. are as follows:
Accounts Payable
Accounts Receivable
Accumulated Depreciation
Cash
Equipment
Land
Prepaid Insurance
Prepaid Rent
Salaries Payable
Supplies
Unearned Fees
CengageNOWv2 | Online teaching and learning resource from Cengage Learning
$ 44,800
138,600
221,300
?
563,000
356,200
8,500
24,900
10,700
5,700
21,400
Vanessa Freeman, Capital 843,400
Assets
$177,700
697.900
38
Prepare a classified balance sheet that includes the correct balance for Cash.
Maxfit Weight Loss Co.
Balance Sheet
November 30, 20Y4
Assets
600
5700
0258
24900
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