C. 6. Journalise the following transactions: a. A restaurant purchased land for $50,000 for cash b. A client makes a banquet reservation to be held in December, 2020. The total cost would be $12,000. The client makes an advance payment today for half of the cost. Received a $1,850 invoice from a supplier to be paid in 15 days. d. Paid $1,600 for insurance premiums to cover the next six months. e. Paid rent $600 for the month. f. Purchased a building site for $120,000. The company paid half in cash and issued a promissory note for the other half. g. Received from cash sales for the day $5,000 7. The following balances from the ledger accounts of Hog and Bones Steakhouse is given to you on June 30, 2020. Names of Accounts 5 Cash 25.000 Receivables 9,000 Prepaid rent 4.000 Land 50.000 Building 180.000 China, Glassware, Silver 15.000 Accumulated Depreciation on Building Accumulated depreciation on china, glassware and silver 6,000 40,000 Accounts payable 5,000 Unpaid wages 2.500 Mortgage payable 100.000 Capital Withdrawals 24,000 Food sales 0.000 Beverage sales 60,000 Cost of food used (including employee meals of $2,000) 30,000 Cost of beverage used 20.000 20.000 Employee benefits 6.000 Insurance expense 3.000 Other operating expenses 7.000 Depreciation expense on building 7.000 Depreciation expense on China, Glassware and Silver 2.000 Franchise 2 Wapes Required: A Prepare a Trial Balance from the above information and determine the Capital Account Balance. Prepare the income statement for the year ended June 30, 2020. C prepare a classified balance sheet as on June 30, 2020. B