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 2017

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 2017 2018 2018 Llabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 46,875 Notes payable 19,125 $ 12,000 Current assets Cash Accounts receivable Inventory $ 55,575 $ 17,775 16,425 56.925 12,750 50,250 24,750 Total $ 75,000 $ 91,125 Total $ 66,000 $ 80,325 Long-term debt $ 30,000 $ 27.000 Owners' equity Common stock and pald-in surplus Retained earnings $ 45,000 $ 45.000 234.000 297,675 Net plant and equipment $300,000 $ 358,875 Total $279.000 $ 342675 Total assets $375.000 $450,000 Total abilities and owners equity $375.000 $450.000 Prepare the 2017 and 2018 common-size balance sheets for Just Dew It. (Do not round Intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) 2017 % 2018 $ 12.000 % Assets Current assets Cash Accounts receivable Inventory Total Fixed assets 17.775 16,425 96 96 12,750 50,250 75,000 26 % 56,925 91,125 $ % %6 S 96 300,000 375,000 358.875 450.000 $ 1% $ 96 55,575 % 96 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 paidan surplus Accumulated retained earnings Tota 40,875 10.125 66.000 30.000 s 96 24.750 80.326 27,000 56 S 9 96 $ 45.000 96 96 06 . 234.000 279.000 375.000 196 96 45,000 297075 342.875 450.000 $ 1996 Total abilities and owners ecuity 96

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_2

Step: 3

blur-text-image_3

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

Finance A Quantitative Introduction Volume 1

Authors: Piotr Staszkiewicz, Lucia Staszkiewicz

1st Edition

0128015845, 978-0128015841

More Books

Students also viewed these Finance questions

Question

Explain how to handle criticism well.

Answered: 1 week ago

Question

=+2. Who is the audience?

Answered: 1 week ago