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. bank loan, $50,000 is due in 2021. For

image text in transcribedimage text in transcribed

Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. bank loan, $50,000 is due in 2021. For Notes receivable, $30,000 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 Revenue Wages payable Total Debit Credit $ 30,000 80,000 37,500 400,000 $100,000 300,000 30,000 100,000 25,000 27,500 5,000 85,000 50,000 20,000 $645,000 $645,000 Using the template provided, prepare a classified balance sheet for the year-ended December 31, 2020. Using the template provided, prepare a classified balance sheet for the year-ended December 31, 2020. SUNSHINE SUSHI Balance Sheet December 31, 2020 Assets Current assets: Total current assets Non-current investments: Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total current liabilities Non-current liabilities: Total liabilities Equity Total liabilities and equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Statistics The Exploration & Analysis Of Data

Authors: Roxy Peck, Jay L. Devore

7th Edition

9780840058010

Students also viewed these Accounting questions