FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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
$100,000
300,000
30,000
100,000
25,000
5,000
85,000
Credit
$ 30,000
80,000
37,500
400,000
27,500
50,000
20,000
$645,000 $645,000
prepare a classified balance sheet for the year-ended December 31, 2020.
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Transcribed Image Text: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 $100,000 300,000 30,000 100,000 25,000 5,000 85,000 Credit $ 30,000 80,000 37,500 400,000 27,500 50,000 20,000 $645,000 $645,000 prepare a classified balance sheet for the year-ended December 31, 2020.
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