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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 | $ 8,850 | $ 14,200 | Accounts payable | $ 37,500 | $ 46,600 |
Accounts receivable | 15,750 | 23,000 | Notes payable | 11,850 | 19,400 |
Inventory | 34,650 | 52,200 | |||
Total | $ 59,250 | $ 89,400 | Total | $ 49,350 | $ 66,000 |
Long-term debt | $ 27,000 | $ 24,000 | |||
Owners equity | |||||
Common stock and paid-in surplus | $ 45,000 | $ 45,000 | |||
Retained earnings | 178,650 | 265,000 | |||
Net plant and equipment | $ 240,750 | $ 310,600 | Total | $ 223,650 | $ 310,000 |
Total assets | $ 300,000 | $ 400,000 | Total liabilities and owners equity | $ 300,000 | $ 400,000 |
For each account on this companys balance sheet, show the change in the account during 2021 and note whether this change was a source or use of cash.
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