Based on the following adjusted trial balance, prepare the closing entries for Dave Scott and Associates (a proprietorship) on December 31, 2023. ( 10 marks) Dave Scott and Associates Adjusted Trial Balance December 31, 2023

Debit Credit Cash $13,600 Accounts receivable 2,000 Office supplies 700 Prepaid insurance 1,200 Equipment 15,600 Accum. amort.-equipment $3,900 Accounts payable 6,800 Salary payable 1,100 Unearned service revenue 800 Dave Scott, Capital 22,900 Dave Scott, Withdrawals 4,900 Service revenue 9,250 Advertising expense 1,400 Amort. expense-equipment 1,300 Supplies expense 500 Insurance expense 650 Utilities expense 2,900 ________ Total $44,750 $44,750

prepare a classified balance sheet 2. The following is a random list of the account balances of Baird Services for the year ended December 31, 2023. All accounts have normal balances. ( 10 marks) Prepare a classified balance sheet for Baird Services as at December 31, 2023. Adjustments and Financial Statements 3. The following information is given for Ribbons and Bows prior to adjustments on December 31, 2023. Ribbons and Bows prepares adjusting entries annually on December 31. ( 5 marks) Salaries of $5,000 are paid every Friday for a five-day workweek ending on Friday. December 31,2023 , is a Thursday. Calculating debt to equity ratio 4. The following is selected financial information from Recipe Unlimited Corporation's Balance Sheet as at December 31,2020 and 2019. Calculate the debt to equity ratio for 2020 and 2019 (round to two decimal places). ( 5 marks)