Reference no: EM132582318
Question 1: Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. Make a classified balance sheet for the year-ended December 31, 2017. For the bank loan, $50,000 is due in 2018. For Notes receivable, $30,000 will be collected in 2018. (DR- DEBIT CR-CREDIT)
Accounts payable $57,321 CR
Accumulated depreciation, equipment 98,000 CR
Accumulated depreciation, furniture 48,600 CR
Bank loan 687,536 CR
Cash $305,687 DR
Equipment 450,300 DR
Operating expenses 45,987 DR
Furniture 160,000 DR
Merchandise inventory 30,000 DR
Natsuki Miyakawa, capital 32,241 CR
Natsuki Miyakawa, withdrawal 25,000 DR
Notes receivable 65,000DR
Revenue 125,689 CR
Wages payable 32,587 CR
Total $1,081,974 $1,081,974
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