Reference no: EM132911627
Question - The bookkeeper of SaskA Delicacies compiled the following information pertaining to 2020. All cash receipts and payments occurred throughout the year. Amounts for the remaining items are as at December 31, 2020 except where mentioned otherwise.
Account name Amount Accounts payable 45,570
Accounts receivable 13,679
Repayments of borrowings 170,242
Cash balance (January 1, 2020) 31,052
Cash paid to purchase equipment 243,211
Property and equipment 732,204
Cash received from borrowings 175,000
Loans payable (current) 39,383
Cash received from sale of long-term assets 115,975
Retained earnings (January 1, 2020) 440,510
Contributed capital 239,744
Dividends declared and paid in cash 53,746
Food and supply inventories 25,775
Cash received from customers 1,276,008
Other current assets 186,493
Other current liabilities 126,012
Prepaid rent 44,010
Cash paid to suppliers and employees 1,123,353
Cash balance 43,038
Cash received from shareholders during the year 33,555
Wages payable 117,226
Net income during 2020 90,500
Required - Prepare classified balance sheet as at December 31, 2020.
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