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Svetlanka [38]
2 years ago
12

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

osed on November 30, 2016, the end of the fiscal year, the balances of selected accounts from the ledger of Optimum Weight Loss Co. are as follows:
Accounts Payable $37,700
Accounts Receivable 116,750
Accumulated Depreciation-Equipment 186,400
Cash ?
Common Stock 75,000
Equipment 474,150
Land 300,000
Prepaid Insurance 7,200
Prepaid Rent 21,000
Retained Earnings 635,300
Salaries Payable 9,000
Supplies 4,800
Unearned Fees 18,000
Prepare a classified balance sheet that includes the correct balance for Cash. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading.
Business
1 answer:
denis23 [38]2 years ago
6 0

Answer:

*** Cash $37,500

Explanation:

Optimum weight loss classified balance sheet .

Assets

Current assets

Cash $37,500

Account receivables $116,750

Prepaid insurance $7,200

Prepaid rent $21,000

Supplies $4,800

Total current assets $187,250

Non current assets

Equipment $474,150

Less

Accumulated depreciation $186,400

NBV $287,750

Land $300,000

Total non current assets

$587,750

Total assets

$775,000

Liabilities

Accounts payable $37,700

Salaries payable $9,000

Unearned fees $18,000

Total liabilities

$64,700

Equity

Common $75,000

Retained earnings $635,300

Total equity

$710,000

Total liabilities + equity

$710,300 + $64,700 = $775,000

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Bezzdna [24]

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8 0
10 months ago
You are a research analyst in charge of publishing research reports for your company, C-Minus Investment Banking and Research. Y
VashaNatasha [74]

Answer:

<em>[C] Go on with the scheduled issue date as planned, issuing the objective report as is even though this may negatively affect business between the two companies.</em>

Explanation:

Although the communication between the two organizations might have a detrimental impact on business, it really is your duty to release the report as it is.

It is unethical to prolong the problem for convenience or as a favor to the executives of the other organization as the study shifts to downplay negativity.

8 0
3 years ago
At its current output level, Pretty Flowers Florist has average fixed costs equal to $5.40 and average variable costs equal to $
lapo4ka [179]

Answer:

The correct option is D: $8.60

Explanation:

Average fixed cost of Pretty Flowers = $5.40

Average variable costs of Pretty Flowers = $3.20

We are asked to calculate the Average total cost of Pretty Flowers at this current level

Hence:

Average total cost Pretty Flowers = Average fixed cost of Pretty Flowers + Average variable costs of Pretty Flowers

If we substitute the value of these variables in the equation, we get:

Average total cost Pretty Flowers = $5.40 + $3.20 = $8.60

3 0
3 years ago
Read 2 more answers
Cushman company, inc. had $812,000 in net sales, $355,250 in gross profit, and $203,000 in operating expenses. cost of goods sol
ch4aika [34]
To solve for the cost of goods sold (COGS):
COGS = Net sales - gross profit
COGS = $812,000 - $355,000
COGS = $457,000

The cost of doors sold is the costs that are used for production of the goods the company sells. It includes materials used for creating the product and labor. 
6 0
3 years ago
The Artisan Cheese Company in Florida has decided to add a new line of imported cheeses to its offering. The company president (
KonstantinChe [14]

Answer:

Cheeses from England.

Explanation:

First, let us define what Marketing Mix is:

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The goal of a marketing strategy is to create awareness among the target audience.

Feedback and surveys are ways in which a company informs its marketing mix strategy. Therefore, if it has been determined from the customer feedback from company surveys and cheese tasting that the Product the customers prefer is Cheese from England, then that is what should be produced and promoted.

It cannot be over emphasized that companies are in business because of the customers, so their opinion takes precedence, as the saying goes, customer is always right. Therefore, if the need of the customer is not met, the company will make no profits.

The company president and product director will have to do what the customer wants.

4 0
3 years ago
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