Question
Question 4 (43 marks) Presented are the account balances for Tabor Bar and Grill Incorporated for the year ended December 31, 2021. ACCOUNT BALANCE
Question 4 (43 marks) Presented are the account balances for Tabor Bar and Grill Incorporated for the year ended December 31, 2021. ACCOUNT BALANCE Cash $36,000 Accounts Receivable $2,100 Inventory, food $3,800 Inventory, beverages $1,300 Prepaid Rent $2,800 Equipment $185,000 Accumulated Depreciation, Equipment $110,000 Goodwill $135,000 Accounts payable $4,400 Salaries & wages payable $5,000 Bonds payable (matures in 10 years) $100,000 Long term debt $80,000 Common Shares $25,000 Retained Earnings Dividends $0 $8,000 Revenues, food $312,000 Revenues, beverages $104,000 Purchases, food (expenses) $98,000 Purchases, beverages (expenses) $28,000 Salaries and wages expenses $130,000 Tableware expenses $25,500 Administrative expenses $28,900 $56,000 Rental expenses Required 3 1. Prepare, in good format, the income statement and statement of retained earnings. 2. Prepare a classified balance sheet.
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