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Just Dew It Corporation reports the following balance sheet information for 2011 and 2012. JUST DEW IT CORPORATION 2011 and 2012 Balance Sheets Assets Liabilities
Just Dew It Corporation reports the following balance sheet information for 2011 and 2012. |
JUST DEW IT CORPORATION 2011 and 2012 Balance Sheets | ||||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||||
2011 | 2012 | 2011 | 2012 | |||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 11,250 | $ | 19,440 | Accounts payable | $ | 30,600 | $ | 49,200 | |||||||
Accounts receivable | 11,850 | 16,080 | Notes payable | 24,900 | 31,200 | |||||||||||
Inventory | 39,150 | 60,240 | ||||||||||||||
Total | $ | 62,250 | $ | 95,760 | Total | $ | 55,500 | $ | 80,400 | |||||||
Long-term debt | $ | 27,000 | $ | 24,000 | ||||||||||||
Owners equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 48,000 | $ | 48,000 | ||||||||||||
Retained earnings | 169,500 | 327,600 | ||||||||||||||
Net plant and equipment | $ | 237,750 | $ | 384,240 | Total | $ | 217,500 | $ | 375,600 | |||||||
Total assets | $ | 300,000 | $ | 480,000 | Total liabilities and owners equity | $ | 300,000 | $ | 480,000 | |||||||
For each account on this companys balance sheet, show the change in the account during 2012 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign.) |
2011 | Sources/Uses | 2012 | |||||||||||
Assets | |||||||||||||
Current assets | |||||||||||||
Cash | $ | 11,250 | $ | (Click to select)UseSourceNone | $ | 19,440 | |||||||
Accounts receivable | 11,850 | (Click to select)NoneSourceUse | 16,080 | ||||||||||
Inventory | 39,150 | (Click to select)UseSourceNone | 60,240 | ||||||||||
Total | $ | 62,250 | $ | (Click to select)SourceNoneUse | $ | 95,760 | |||||||
Fixed assets | |||||||||||||
Net plant and equipment | $ | 237,750 | $ | (Click to select)UseNoneSource | $ | 384,240 | |||||||
Total assets | $ | 300,000 | $ | (Click to select)SourceUseNone | $ | 480,000 | |||||||
Liabilities and Owners Equity | |||||||||||||
Current liabilities | |||||||||||||
Accounts payable | $ | 30,600 | $ | (Click to select)UseSourceNone | $ | 49,200 | |||||||
Notes payable | 24,900 | (Click to select)UseNoneSource | 31,200 | ||||||||||
Total | $ | 55,500 | $ | (Click to select)NoneUseSource | $ | 80,400 | |||||||
Long-term debt | $ | 27,000 | $ | (Click to select)UseNoneSource | $ | 24,000 | |||||||
Owners' equity | |||||||||||||
Common stock and paid-in surplus | $ | 48,000 | $ | (Click to select)UseNoneSource | $ | 48,000 | |||||||
Accumulated retained earnings | 169,500 | (Click to select)NoneUseSource | 327,600 | ||||||||||
Total | $ | 217,500 | $ | (Click to select)UseSourceNone | $ | 375,600 | |||||||
Total liabilities and owners' equity | $ | 300,000 | $ | (Click to select)NoneSourceUse | $ | 480,000 |
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