Answered step by step
Verified Expert Solution
Question
1 Approved Answer
where do I put bank loan? Exercise 4-14 Preparing a classified balance sheet Lo6 excel Sunshine Sushi, a Japanese restaurant, has the following adjusted trial
where do I put bank loan?
Exercise 4-14 Preparing a classified balance sheet Lo6 excel Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alpha- betical order. Using the template provided, prepare a classified balance sheet for the year ended December 31, 2020. For the bank loan, $60,550 is due in 2021. For Notes receivable, $41,500 will be collected in 2021. Account Title Dobit Credit $ 41,625 99,700 38.250 501,000 Accounts payable Accumulated depreciation, equipment Accumulated depreciation, furniture ........... Bank loan. Cash Equipment Operating expenses Furniture ....... Merchandise Inventory Natsuki Miyakawa, capital. Natsuki Miyakowa, withdrawal. Notes recelvable Revenue Wages payable Total $115,000 373,875 38,150 102,000 34,250 28,500 11,300 115,500 50,750 30.250 $790,075 $790,075 le B C Trial Balance D E Statement F G H Sheet Debit Credit Debit Credit Debit Credit 115000 60550 175550 115500 41500 157000 34250 34250 102000 10200 38250 38250 373875 373875 99700 99700 (101)cash 5 (111) notes receivable 5 (119) Merchandise Iventory 7 (161)furniture 8 (162)Accumulated Depreciation furniture 9 (167)equipment 20 (168)Accumulated Depreciation. Equipment 21 (201) Accounts payable 22 (208)Wages Payable 23 (301) Nasuki Miyakawa.Capital 24 (302)Nasuki Miyakawa, withdrawls 25 (401)revenue 26 (696) operating expense 27 (218)bank loan payable 28 41625 41624 30250 30250 28.500 28500 11300 11300 50750 41500 92250 38150 501000 60550 561550 OS 42 OSOS 44 OS 45 OM OS 4-7 Os 4:10 054-12 OS 4-14 OS 4.15 OS 4B Ex 1 Ex: 49 Ex 4.10 EStep 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