Question
JUST DEW IT CORPORATION 2011 and 2012 Balance Sheets Assets Liabilities and Owners Equity 2011 2012 2011 2012 Current assets Current liabilities Cash $ 12,000
| JUST DEW IT CORPORATION 2011 and 2012 Balance Sheets | ||||||||||||||||
| Assets | Liabilities and Owners Equity | |||||||||||||||
| 2011 | 2012 | 2011 | 2012 | |||||||||||||
| Current assets | Current liabilities | |||||||||||||||
| Cash | $ | 12,000 | $ | 17,775 | Accounts payable | $ | 46,875 | $ | 55,575 | |||||||
| Accounts receivable | 12,750 | 16,425 | Notes payable | 19,125 | 24,750 | |||||||||||
| Inventory | 50,250 | 56,925 | ||||||||||||||
| Total | $ | 75,000 | $ | 91,125 | Total | $ | 66,000 | $ | 80,325 | |||||||
| Long-term debt | $ | 30,000 | $ | 27,000 | ||||||||||||
| Owners equity | ||||||||||||||||
| Common stock and paid-in surplus | $ | 45,000 | $ | 45,000 | ||||||||||||
| Retained earnings | 234,000 | 297,675 | ||||||||||||||
| Net plant and equipment | $ | 300,000 | $ | 358,875 | Total | $ | 279,000 | $ | 342,675 | |||||||
| Total assets | $ | 375,000 | $ | 450,000 | Total liabilities and owners equity | $ | 375,000 | $ | 450,000 | |||||||
| For each account on this companys balance sheet, show the change in the account during 2012 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign.) |
| 2011 | Sources/Uses | 2012 | |||||||||||
| Assets | |||||||||||||
| Current assets | |||||||||||||
| Cash | $ | 12,000 | $ | (Click to select)NoneSourceUse | $ | 17,775 | |||||||
| Accounts receivable | 12,750 | (Click to select)UseNoneSource | 16,425 | ||||||||||
| Inventory | 50,250 | (Click to select)SourceNoneUse | 56,925 | ||||||||||
| Total | $ | 75,000 | $ | (Click to select)UseSourceNone | $ | 91,125 | |||||||
| Fixed assets | |||||||||||||
| Net plant and equipment | $ | 300,000 | $ | (Click to select)UseNoneSource | $ | 358,875 | |||||||
| Total assets | $ | 375,000 | $ | (Click to select)SourceUseNone | $ | 450,000 | |||||||
| Liabilities and Owners Equity | |||||||||||||
| Current liabilities | |||||||||||||
| Accounts payable | $ | 46,875 | $ | (Click to select)NoneSourceUse | $ | 55,575 | |||||||
| Notes payable | 19,125 | (Click to select)NoneUseSource | 24,750 | ||||||||||
| Total | $ | 66,000 | $ | (Click to select)SourceNoneUse | $ | 80,325 | |||||||
| Long-term debt | $ | 30,000 | $ | (Click to select)SourceUseNone | $ | 27,000 | |||||||
| Owners' equity | |||||||||||||
| Common stock and paid-in surplus | $ | 45,000 | $ | (Click to select)NoneUseSource | $ | 45,000 | |||||||
| Accumulated retained earnings | 234,000 | (Click to select)SourceUseNone | 297,675 | ||||||||||
| Total | $ | 279,000 | $ | (Click to select)UseSourceNone | $ | 342,675 | |||||||
| Total liabilities and owners' equity | $ | 375,000 | $ | (Click to select)UseSourceNone | $ | 450,000 | |||||||
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Accounting Information Systems
Authors: George H. Bodnar, William S. Hopwood
8th Edition
0130861774, 9780130861771
