Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. For the bank loan, $58,100 is due
Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. For the bank loan, $58,100 is due in 2024. For Notes receivable, $31,500 will be collected in 2024. Account title Accounts payable Debit Credit $61,125 Accumulated depreciation, equipment Accumulated depreciation, furniture 82,600 67,125 Bank loan 461,000 Cash $139,000 Equipment 309,750 Operating expenses 38,150 Furniture 179,000 Merchandise Inventory 43,250 Natsuki Miyakawa, capital 51,750 Natsuki Miyakawa, withdrawal 11,500 Notes receivable 103,950 Revenue Wages payable Total 73,000 28,000 $824,600 $824,600 Using the template provided, prepare a classified balance sheet for the year-ended December 31, 2023. Current assets: Total current assets Non-current investments: Property, plant, and equipment: SUNSHINE SUSHI Balance Sheet December 31, 2023 Assets Total property, plant, and equipment Total assets 0 Liabilities Current liabilities: Total current liabilities Non-current liabilities: Total liabilities Total liabilities and equity Liabilities Equity $ 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started