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 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets

image text in transcribed
image text in transcribed
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 14,105 Accounts payable $ 46,382 32,815 Notes payable 18,246 57,204 Current assets Cash Accounts receivable Inventory 2018 $ 12,157 29,382 54,632 $ 49,276 19,784 Total $ 96,171 $ 104,124 Total $ 64,628 $ 69,060 Long-term debt $ 49,000 $ 45,000 Owners' equity Common stock and paid in surplus Retained earnings $ 50,000 299,784 $ 50,000 315,894 Net plant and equipment $367,241 $375,830 Total $349,784 $365,894 Total assets $463,412 $479,954 Total liabilities and owners equity $ 463,412 $ 479,954 Prepare the 2018 common-base year balance sheet for Just Dew it. (Do not round Intermediate calculations and round your answers to 4 decimal places, e.g. 32.1616.) 2017 2018 Assets Prepare the 2018 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) 2017 2018 -59 Assets 12,157 $ 29,382 54,632 96,171 $ 14,105 32,815 57,204 104,124 $ $ $ 367,241 $ 463,412 $ 375,830 479,954 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 liabilities and owners' equity 46,382 $ 18,246 64,628 $ 49,000 $ $ 49,276 19.784 69,060 45,000 $ $ 50,000 $ 299.784 349,784 $ 463,412 $ $ 50,000 315,894 365,894 479,954 $

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

Personal Finance Terms Financial Education Is Your Best Investment

Authors: Thomas Herold

1st Edition

1090822871, 978-1090822871

More Books

Students also viewed these Finance questions