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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 Accumulated depreciation, equipment Accumulated depreciation, furniture Bank loan Cash Equipment Operating expenses Furniture Merchandise Inventory Natsuki Miyakawa, capital Natsuki Miyakawa, withdrawal Notes receivable Debit Credit $ 58,400 94,800 69,750 525,000 $132,000 355,500 55,300 186,000 43,500 33,000 9,700 89,950 64,500 26,500 Revenue Wages payable Total $871,950 $871,950 Using the template provided, prepare a classified balance sheet for the year-ended December 31, 2020. SUNSHINE SUSHI Balance Sheet Current assets: December 31, 2020 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 Liabilities Equity MY Autobody's adjusted trial balance on December 31, 2020, appears in the work sheet as follows 101 124 126 Cash 127,300 Shop supplie Prepaid insurance 3,500 167 168 Equipment 84,500 Accumulated depreciation, equipment $6,800 201 Accounts payable 18,300 210 Kages payable 8.160 301 Mike Yang, capital 133,000 302 Nike Tang, withdrawal 32,500 401 Repair revenue 151,330 612 Depreciation expense, equipment 7,800 623 103,800 637 Insurance expense 1,550 640 650 Heat expense 40,850 office supplies expense 690 Utilities expense Totale 4,100 2,240 $317,590 $317,590 Required 1. Prepare closing entries. View transaction Journal entry worksheet Record closing of revenue to the income summary. Note: Enter diots before credit Date Dec. 31, 2020 Record entry Account Debt Credt Clear antry 2. Prepare the post-closing trial balance at December 31, 2020 MY AUTOBODY Post-Closing Trial Balance December 31, 2020 Totals $ Debi Credit 0 $image text in transcribedimage text in transcribed

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