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where would add bank loan and notes receivables CHAPTER 4 Completing the Accounting Cycle and Classifying Accounts Exercise 4-14 Preparing a classified balance sheet Lo6
where would add bank loan and notes receivables
CHAPTER 4 Completing the Accounting Cycle and Classifying Accounts 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, S60,550 is due in 2021. For Notes receivable. $41,500 will be collected in 2021 Account Title Debt Credit 541.625 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 Miyakawa, withdrawal Notes receivable 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 Calibri BI USA B D E F G 13 Debit Credit Debit Credit Debit Credit $41,625 14 Accounts Payable 5 Accumulated Depreciation Equipment 16 Accumulated Depreciation, Furniture $99,700 $38.250 17 Bank Loan $501,000 18 Cash $115.000 19 Equipment $373,875 $38.150 20 Operating Expenses 21 Furniture $102.000 $34.250 22 Merchandise Inventory 23 Nasuki Miyakawa, Capital 24 Nasuki Miyakawa, Withdrawals 28,500 11.300 25 Notes Receivable 115.500 26 Revenue 50.750 27 Wages Payable 30.250 29 TOTALS $790.075 $790,075 $Step by Step Solution
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