Tree Top Restaurants Ltd a chain that has several

restaurants #141
Tree Top Restaurants Ltd., a chain that has several restaurants in cities across Canada, had
the following account balances at December 31, 2011:Retained earnings……………………………… $
60,000Wages payable…………………………………. 10,000Accounts receivable……………………………
loan (due in five years)…………………... 250,000Buildings……………………………………….. 260,000Ac
depreciation on buildings……….. 30,000Accounts payable………………………………. 82,000Prepaid
insurance………………………………. 8,000Share capital……………………………………. 200,000Cash…
53,000Land……………………………………………. 100,000Taxes payable………………………………….
5,000Inventory……………………………………….. 46,000Furniture and equipment………………………..
Accumulated depreciation onfurniture and equipment………………………… 10,000Required:Prepare a
classified statement of financial position for Tree Top Restaurants Ltd. for December 31,
2011.View Solution:
Tree Top Restaurants Ltd a chain that has several restaurants

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