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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
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 Liabilities and Owners' Equity 2018 2017 Current liabilities 11,250 Accounts payable $ 70,000 24,750 Notes payable 23,800 93,750 $ 9.000 Current assets Cash Accounts receivable Inventory $ $ 73,250 31,000 17,000 77,000 Total $ 103,000 $ 129,750 Total $ 93,800 $ 104,250 Long-term debt $ 42,000 $ 40,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 50,000 $ 50,000 305,750 214,200 Net plant and equipment $ 297,000 $ 370,250 Total $264,200 $ 355,750 Total assets $400,000 $500,000 Total liabilities and owners' equity $400,000 $500,000 For each account on this company's balance sheet, show the change in the account during 2018 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 "O" wherever required. A negative answer should be indicated by a minus sign.) 2017 Sources/Uses 2018 Assets Current assets Cash $ 9,000 $ 2 Use $ Accounts receivable 17,000 Use 11,250 24,750 93,750 129,750 Inventory 77,000 103,000 Use Use Total $ $ $ Use $ 297,000 400,000 370,250 500,000 $ Use $ $ Source $ 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 70,000 23,800 Source Source 73,250 31,000 104,250 40,000 $ 93,800 $ $ 42,000 Use $ $ None $ 50,000 305,750 Source 50,000 214,200 264,200 400,000 Total $ Source $ 355,750 500,000 Total liabilities and owners' equity $ Source $
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