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. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities

image text in transcribed
image text in transcribed
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2017 2018 Current assets Current liabilities Cash $ 12,157 $ 14,105 Accounts payable $ 46,382 18,246 Accounts receivable 29,382 32,815 Notes payable Inventory 54,632 57,204 Total $ 96,171 $ 104,124 Total $ 64,628 Long-term debt $ 49,000 Owners' equity Common stock and paid-in $ 50,000 surplus Retained earnings 299,784 Net plant and equipment $367,241 $375,830 Total $349,784 Total assets $463,412 $479,954 Total liabilities and owners' equity $463,412 Prepare the 2017 and 2018 common-size balance sheets for Just Dew it. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) 2017 % 2018 Assets Current assets Cash $ 12,157 % Accounts receivable 29,382 54,632 Inventory Total $ 96,171 Fixed assets Net plant and equipment 367,241 463,412 Total assets Liabilities and Owners' Equity $ $ $ % $ % $ % $ at % % ** 14,105 32,815 57,204 104,124 375,830 479,954 2018 $ 49,276 19,784 $ 69,060 $ 45,000 $ 50,000 315,894 $365,894 $479,954 % % % % % Prepare the 2017 and 2018 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) 2017 % 2018 Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current liabilities Liabilities and Owners' Equity 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 $ $ $ $ $ $ $ $ * $ $ 12,157 29,382 54,632 96,171 367,241 463,412 46,382 18,246 64,628 49,000 50,000 299,784 349,784 463,412 de dese $ % % $ % $ % % 14.105 32,815 57,204 104,124 375,830 $ 479,954 $ 49,276 19,784 $ 69,060 $ 45,000 % $ 50,000 % 315,894 % $ 365,894 % $ 479,954 % jejejeje % % % % % % % % % % % je de dese % % % % % % % %

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

Authors: E. Thomas Garman, Raymond E. Forgue, Jonathan Fox

14th Edition

0357901495, 9780357901496

More Books

Students also viewed these Finance questions