Below is an alphabetical list of the adjusted accounts of Dunder Tour Company at its year end, December 31, 2017. All accounts have normal balances.

Additional information:
1. In 2018, $3,000 of the notes payable becomes due.
2. The note receivable is due in 2019.
3. On July 18, 2017, Fred Dunder invested $3,200 cash in the business.
Instructions
(a) Calculate the post-closing balance in F.Dunder, Capitalon December 31, 2017.
(b) Prepare a classified balance sheet.
(c) On December 31, 2016, Dunder Tour Company had current assets of $17,400 and current liabilities of $22,300. Calculate the company's working capital and current ratio on December 31, 2016, and December 31, 2017.
(d) On December 31, 2016, the total of Dunder Tour Company's cash, short-term investments, and current receivables was $15,600. Calculate the company's acid-test ratio on December 31, 2016, and December 31, 2017.
Future it Further:
Has the company's ability to pay its debts improved or weakened over the year?

Transcribed Image Text:

Accounts payable Accounts receivable Accumulated depreciation- equipment Cash Depreciation expense Equipment E Dunder, capital E Dunder, drawings Insurance expense Interest expense Interest payable S 100 1,100 40,000 18,400 15,000 2,900 65,000 2,700 3,100 2,400 3,500 S 7,300 st receivable 3,500 Interest revenue 15,000 4,500 Notes receivable 10,000 Patents 50,000 Prepaid insurance 17,300 Sce revenue 33,000 Short-term investments Notes payable 1,500 Supplies 2,800 Supplies expense 700 Unearned revenue