Question
Prepare a balance sheet for the Colonnade Restaurant, owned by Carman Pasquale, dated December 31, 2020. Using the figures below, (Proper Balance street will get
Prepare a balance sheet for the Colonnade Restaurant, owned by Carman Pasquale, dated December 31, 2020. Using the figures below, (Proper Balance street will get more marks) (5 Marks) 1. Bank loan $10 000 2. Equipment $28 500 3. Inventory $16 900 4. Mortgage $60 000 5. Net Profit $ 10 000 6. Cash $12 500 7. Income tax $ 5000 8. Common stock $ 100000 9. Accruals $9 450 10. Building $154 000 11. Sales $ 15 000 12. Retained earnings $ 67050 13. Furniture $34 600
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408076866
