Using the following information, prepare a balance sheet on December 31, 2020, for The Eastern Heaven Hotel, a proprietorship owned by Mr. RD. Winters. The statement of owner's equity prepared for the year shows a total of $137000. The assets and liability accounts show the following balances on December 31, 2020: Land Accounts Recevable Cost of furniture Cost of equipment Accumulated Depreciation on Building Accumulated Depreciation on Furniture Cost of Building Cash Kitchen fuel Accounts Payable Accrued Expenses Prepaid Expenses Wages Payable Food Inventory China, Glassware, Silver Security Deposits Preopening Expenses Notes receivable Food sales Notes Payable Beverage Inventory Accumulated Depreciation on equipment Mortgage payable is $140000 of which $ 30000 is due currently. $60000 11000 56000 14000 32000 22000 192000 18500 1500 17300 14700 2500 4100 4600 10000 2000 1500 3000 2000 5000 2000 $5000

Using the following information, prepare a balance sheet on December 31, 2020, for The Eastern Heaven Hotel, a proprietorship owned by Mr. RD. Winters. The statement of owner's equity prepared for the year shows a total of $137000. The assets and liability accounts show the following balances on December 31, 2020: Land Accounts Recevable Cost of furniture Cost of equipment Accumulated Depreciation on Building Accumulated Depreciation on Furniture Cost of Building Cash Kitchen fuel Accounts Payable Accrued Expenses Prepaid Expenses Wages Payable Food Inventory China, Glassware, Silver Security Deposits Preopening Expenses Notes receivable Food sales Notes Payable Beverage Inventory Accumulated Depreciation on equipment Mortgage payable is $140000 of which $ 30000 is due currently. $60000 11000 56000 14000 32000 22000 192000 18500 1500 17300 14700 2500 4100 4600 10000 2000 1500 3000 2000 5000 2000 $5000

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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