Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 4-14 Preparing a classified balance sheet L06 excel Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alpha-

image text in transcribed
Exercise 4-14 Preparing a classified balance sheet L06 excel Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alpha- betical order. Using the template provided, prepare a classified balance sheet for the year ended December 31, 2020. For the bank loan, $60,550 is due in 2021. For Notes receivable, $41.500 will be collected in 2021. Account Title Debit Credit Accounts payable Accumulated depreciation, equipment Accumulated depreciation furniture Bank loan $ 41,625 99.700 38.250 501,000 $115.000 373.875 38.150 102.000 34250 2 500 Equipment Operating expenses Furniture Merchandise ventory Natsuki Miyakawa capital Natsuki Myskaw withdwal Notes receivable Revenue wages paratie Total 11 300 50.250 30.250 ST0075 5790.075 Sunshine Sus Balance Sheet December 31, 2020 Current assets Total current assets Property plant and equipment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Guide To Local Environmental Auditing

Authors: Hugh Barton; Noel Bruder

1st Edition

1853832340, 9781853832345

More Books

Students also viewed these Accounting questions