Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Just Dew It Corporation reports the following balance sheet Information for 2017 and 2018 Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance

image text in transcribed
image text in transcribed
Just Dew It Corporation reports the following balance sheet Information for 2017 and 2018 Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilites and Owners' Equity 2018 2017 Current liabilities $ 11,970 Accounts payable $ 43,750 26,670 Notes payable 24,325 51.450 $ 47,250 24.780 Current assets Cash Accounts receivable Inventory $ 11,025 22.225 44,625 $ 68,075 $ 72,030 Total Total $ 77.875 $ 90,090 $ 35,000 Long-term debt $ 21,000 Owners' equity Common stock and paid in $ 42,000 surplus Retained earnings 204,925 $ 42,000 284,970 $326,970 $246.925 Net plant and equipment $ 329,910 $ 272,125 Total Total liabilities and owners' equity $350,000 $420,000 Total assets $350.000 $420,000 Prepare the 2018 common-base year balance sheet for Just Dew it. (Do not found Intermediate calculations and round your answers to 4 decimal places, e.g. 32 1616.) 2017 2018 11,025 22 225 44,825 77.875 11,970 26,670 51.450 90.000 $ Al 272,125S 350,000 3201010 420.000 S Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total abilities and owners' equity $ $ $ s 43.750 3 24 325 S 58.075S 35.000 TS 47250 24780 22.030 25,000 $ 42.000 204 925 246,9255 350.000 42.000 284 070 328,970 420.000 $ 9

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Shape Up Your Finances

Authors: Ian Birt

2nd Edition

1925716422, 978-1925716429

More Books

Students also viewed these Finance questions