Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Just Dew It Corporation reports the following balance sheet information for 2014 and 2015 JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets Assets 2014

image text in transcribed
image text in transcribed
Just Dew It Corporation reports the following balance sheet information for 2014 and 2015 JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets Assets 2014 2015 2015 Liabilities and Owners' Equity 2014 Current liabilities Accounts payable $ 51,840 Notes payable 21,600 $ Current assets Cash Accounts receivable Inventory $ 6,560 16,160 61,280 8,600 22,600 74,600 $ 53,000 23,600 Total $ 84,000 $105,800 $ 76,600 $ 30,000 Total $ 73,440 Long-term debt $ 32,000 Owners' equity Common stock and paid in $ 40,000 surplus Retained earnings 174,560 $ 40,000 253,400 Net plant and equipment $236,000 $294.200 Total $ 214,560 $293,400 Total assets $320,000 $400,000 Total liabilities and owners' equity $320,000 $400,000 intermediate calculations. Enter your answers as a percent rounded to 2 decimai places, e.g., 32.16.) 2014 2015 Assets Current assets Cash Accounts receivable Inventory $ $ 6,560 16,160 61,280 8,600 22,600 74,600 de dede Total $ 84,000 $ 105,800 de Fixed assets Net plant and equipment $236,000 $294,200 Total assets $320,000 $400,000 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable $ 51,840 21,600 % $ 53,000 % 23,600 al del dese $ 73,440 $ 32,000 % $ 76,600 $ 30,000 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 40,000 174,560 1% 0% $ 40,000 253,400 de se Total $ 214,560 7% $293,400 Total liabilities and owners' equity $320,000 dede 7% $400,000

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

Military Finances Personal Money Management For Service Members Veterans And Their Families

Authors: Cheryl Lawhorne-Scott, Don Philpott

1st Edition

144222214X, 978-1442222144

More Books

Students also viewed these Finance questions

Question

6. Conclude with the same strength as in the introduction

Answered: 1 week ago

Question

7. Prepare an effective outline

Answered: 1 week ago