Reference no: EM132648295

The following balances from the ledger accounts of Hog and Bones Steakhouse is given to you June 30 2020

Names of accounts

$

Cash                                      25,000

Receivables                            9,000

Prepaid rent                              4,000

Land                                       50,000

Building                                     180,000

China, Glassware, Silver                      15,000

Accumulated Depreciation on Building       20,000

Accumulated Depreciation on china glassware and silver 6,000

Franchise                           40,000

Accounts Payable                    5,000

Unpaid Wages                            2,500

Mortgage Payable                      100,000

Capital                                        ?

Withdrawals                               24,000

Food Sales                               80,000

Beverage Sales                           60,000

Cost of Food Used(including employees and Silver meal of $2000) 30,000

Cost of beverage used               20,000

Wages                                  20,000

Employee Benefits                    6,000

Insurance expense                  3,000

Other operating expenses          7,000

Depreciation Expense on building  7,000

Depreciation expense on China, Glassware 2,000

Question 1.Trial Balance and determine the capital account balance

Question 2. An income statement for the year ended June 30 2020

Question 3. A classified balance sheet as of June 30 2020