An alphabetical list of the adjusted trial balance accounts for North Country Rentals after its first year of operations ending March 31, 2023, is shown below: Account Accounts payable Accumulated depreciation, building Accumulated depreciation, furniture Advertising expense Building Cash Depreciation expense, building Depreciation expense, furniture Furniture Interest expense Interest payable Janitorial expense Land Long-term notes payable Notes receivable, due 2026 office salaries expense office supplies Office supplies expense Brand name Prepaid advertising Rent revenue Rent receivable Salaries payable Utilities expense Wyett North, capital Wyett North, withdrawals Wyett North, capital Adjusted $ 536,035 Account Balance* $ 9,800 25,700 4,200 16,900 598,000 17,700 25,700 4,200 44,200 10,330 830 41,700 117,000 369,000 150,000 130,125 770 6,800 3,700 470 *Assume all accounts have a normal balance. Required: 1. Calculate the capital balance as it would appear on the March 31, 2023, balance sheet. 405,400 16,700 2,975 37,420 432,510 28,700 2
An alphabetical list of the adjusted trial balance accounts for North Country Rentals after its first year of operations ending March 31 , 2023, is shown below: -Assume all accounts have a normal balance. Required: 1. Calculate the capital balance as it would appear on the March 31,2023, balance sheet. 2. Prepare a classified balance sheet. Assume that $218,500 of the Long-Term Notes Payable will be paid during the year ended March 31, 2024 Also, $58,500 of the notes recelvable witt be collected by March 31,2024 3. Calculate the current ratio and the debt to equity ratio. (Round the finol answers to 2 decimal places.)
