Question
Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. For the bank loan, $63,350 is due in
Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. For the bank loan, $63,350 is due in 2021. For Notes receivable, $37,250 will be collected in 2021. Account title Accounts payable Debit Credit $58,400 Accumulated depreciation, equipment Accumulated depreciation, furniture 54,800 69,750 525,000 Cash $132,000 Equipment 355,500 Operating expenses 55,300 Furniture 186,000 Merchandise Inventory 43,500 Natsuki Miyakawa, capital 33,000 Natsuki Miyakawa, withdrawal 9,700 Notes receivable 89,950 Wages payable Total 64,500 26,500 $871,950 $871,950 Using the template provided, prepare a classified balance sheet for the year-ended December 31, 2020. SUNSHINE SUSHI Balance Sheet December 31, 2020 Current assets: Total current assets Non-current investments: Property, plant, and equipment: Total property, plant, and equipment Total assets Current liabilities: Total current liabilities Non-current liabilities: Total liabilities Total liabilities and equity Assets Liabilities Equity
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