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Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabet 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 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

Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabet 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 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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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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