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. 5 nts Assets 2017 2018 eBook JUST DEW IT CORPORATION 2017

image text in transcribed
image text in transcribed
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. 5 nts Assets 2017 2018 eBook JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 13,275 Accounts payable $ 52,560 29,925 Notes payable 19,260 82,575 eferences Current assets Cash Accounts receivable Inventory $ 60,750 $ 10,620 21,420 24,075 67,860 Total $ 99,900 $ 125,775 Total $ 71,820 $ 84,825 Long-term debt $ 36,000 $ 27,000 Owners' equity Common stock and paid in surplus Retained earnings $ 45,000 $ 45,000 293,175 207180 Net plant and equipment $ 260,100 $324,225 Total $ 252,180 $ 338,175 Total assets $360,000 $450,000 Total liabilities and owners' equity $360,000 $450,000 enter "0" wherever required. A negative answer should be indicated by a minus sign.) 2017 Sources/Uses 2018 Assets Current assets Cash $ $ 10,620 21,420 67,860 99,900 13,275 29,925 82,575 125,775 $ $ $ $ $ 260,100 360,000 324 225 450,000 $ 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 $ $ 52,560 19,260 71,820 36,000 60,750 24,075 84,825 27,000 $ $ $ $ $ 45,000 $ 45,000 293,175 338,175 450,000 207,180 252,180 360,000 $ $ $ $

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

Audit Of The Drug Enforcement Administrations Controls Over Seized And Collected Drugs

Authors: Office Of Inspector General, U.S. Department Of Justice, Penny Hill Press

1st Edition

1537075683, 978-1537075686

More Books

Students also viewed these Accounting questions