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Wondering if someone could help me as I am stuck especially with they mention in part 2 of the notes payable. If someone could help
Wondering if someone could help me as I am stuck especially with they mention in part 2 of the notes payable. If someone could help me, I appreciate it! Thank you
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 receivable will be collected by March 31, 2024. NORTH COUNTRY RENTALS Balance Sheet March 31, 2023 Assets Current assets: Cash Rent receivable Office supplies Total current assets S Long-term investments: Notes receivable, less current portion Property, plant and equipment: Building Furniture Total property, plant and equipment S Intangible assets: Total assets S Liabilities Current liabilities: Total current liabilities Long-term liabilities Total liabilities S Equity Total liabilities and equity S3. Calculate the current ratio and the debt to equity ratio. (Round the final answers to 2 decimal places.) Current Ratio Debt to Equity RatioProblem 4-10A Preparing a classified balance sheet L05, 6 An alphabetical list of the adjusted trial balance accounts for North Country Rentals after its rst year of operations ending March 31, 2023, is shown below: Adjusted Account Account Balance* Accounts payable $ 9,866 Accumulated depreciation, building 25,?66 Accumulated depreciation, furniture 4,266 Advertising expense 16,966 Building 598,666 Cash 1?,?66 Depreciation expense, building 25,?66 Depreciation expense, Furniture 4,266 Furniture 44,266 Interest expense 16,336 Interest payable 836 Janitorial expense 41,?66 Land 11?,666 Longterm notes payable 369,666 Notes receivable, due 2826 156,666 Office salaries expense 136,125 Office supplies ??6 Office supplies expense 6,866 Brand name 3,?66 Prepaid advertising 4?6 Rent revenue 465,466 Rent receivable 16,?66 Salaries payable 2,9?5 Utilities expense 37,426 Nyett North, capital 432,516 Nyett North, withdrawals 28,?66 \"'Assume all accounts have a normal balanceStep by Step Solution
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