Home /
Expert Answers /
Accounting /
please-help-me-to-solve-this-problem-an-alphabetical-list-of-the-adjusted-trial-bal-pa265
(Solved):
please help me to solve this problem
An alphabetical list of the adjusted trial bal ...
please help me to solve this problem
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 $212,500 of the Long-Term Notes Payable will be paid during the year ended March 31, 2024. Also, $52,500 of the notes receivable will be collected by March 31, 2024.
3. Calculate the current ratio and the debt to equity ratio. (Round the final answers to 2 decimal places.)