Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. Prepare a classified balance sheet for the year-ended

image text in transcribed
Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. Prepare a classified balance sheet for the year-ended December 5 31, 2017. For the bank loan, $60,000 is due in 2018. For Notes receivable, $40,000 will be collected in 2018. 7 8 9 Account Title Debit Credit 70 Accounts payable $57,321 71 Accumulated depreciation, equipment 98,000 12 Accumulated depreciation, furniture 48,600 13 Bank loan 6,87,536 14 Cash $3,04,398 15 Equipment 4,50,300 16 Operating expenses 55,000 17 Furniture 1,60,000 18 Merchandise inventory 30,000 19 Natsuki Miyakawa, capital 34.241 20 Natsuki Miyakawa, withdrawal 25,000 21 Notes receivable 65,000 22 Revenue 1.28.000 23 Wages payable 36,000 Total $10.89.698 $10.89.698 25 26 27 28 29 30 31 > 24

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_2

Step: 3

blur-text-image_3

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions