Alisha Bjorn wants to buy a new car for the business. As her bank manager, what do

you advise?

Problem $4-10$A Preparing a classified balance sheet L$05,6$

CHECK FIGURES: $1.$ Capital $=$$$520,775$;$2.$ Total assets $=$$$895,400$

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:Calculate the capital balance as it would appear on the March $31,2023,$ balance

sheet.

Prepare a classified balance sheet. Assume that $$215,000$ of the Long$-$Term Notes

Payable will be paid during the year ended March $31,2024.$ Also, $$55,000$ of the

notes receivable will be collected by March $31,2024.$

Calculate the current ratio and the debt to equity ratio $($round to two decimal

places$).$

Answer rating: 100% (QA)

1 Capital Balance Calculation March 31 2023 We dont have the complete adjusted trial balance information so we cant calculate the exact capital balanc... View the full answer