Question
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Liabilities and Owners Equity 2020 2021 Current assets Current liabilities Cash $ 6,600 $ 12,750 Accounts payable $ 50,000 $ 68,750 Accounts receivable 12,200 14,250 Notes payable 19,000 35,500 Inventory 78,200 95,250 Total $ 97,000 $ 122,250 Total $ 69,000 $ 104,250 Long-term debt $ 48,000 $ 45,000 Owners equity Common stock and paid-in surplus $ 50,000 $ 50,000 Retained earnings 233,000 300,750 Net plant and equipment $ 303,000 $ 377,750 Total $ 283,000 $ 350,750 Total assets $ 400,000 $ 500,000 Total liabilities and owners equity $ 400,000 $ 500,000 Prepare the 2021 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.)
Just Dew it Corporation reports the following balance sheet information for 2020 and 2021. Prepare the 2021 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.)Step by Step Solution
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