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Just Dew It Corporation reports the following balance sheet information for 2014 and 2015. JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets Assets Liabilities
| Just Dew It Corporation reports the following balance sheet information for 2014 and 2015. |
| JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets | ||||||||||||||||
| Assets | Liabilities and Owners Equity | |||||||||||||||
| 2014 | 2015 | 2014 | 2015 | |||||||||||||
| Current assets | Current liabilities | |||||||||||||||
| Cash | $ | 6,600 | $ | 15,250 | Accounts payable | $ | 62,400 | $ | 65,750 | |||||||
| Accounts receivable | 26,600 | 29,750 | Notes payable | 26,400 | 31,500 | |||||||||||
| Inventory | 75,800 | 92,250 | ||||||||||||||
| Total | $ | 109,000 | $ | 137,250 | Total | $ | 88,800 | $ | 97,250 | |||||||
| Long-term debt | $ | 50,000 | $ | 40,000 | ||||||||||||
| Owners equity | ||||||||||||||||
| Common stock and paid-in surplus | $ | 52,000 | $ | 52,000 | ||||||||||||
| Retained earnings | 209,200 | 310,750 | ||||||||||||||
| Net plant and equipment | $ | 291,000 | $ | 362,750 | Total | $ | 261,200 | $ | 362,750 | |||||||
| Total assets | $ | 400,000 | $ | 500,000 | Total liabilities and owners equity | $ | 400,000 | $ | 500,000 | |||||||
| For each account on this companys balance sheet, show the change in the account during 2015 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.) |
| 2014 | Sources/Uses | 2015 | |||||||||||
| Assets | |||||||||||||
| Current assets | |||||||||||||
| Cash | $ | 6,600 | $ | (Click to select)SourceNoneUse | $ | 15,250 | |||||||
| Accounts receivable | 26,600 | (Click to select)UseNoneSource | 29,750 | ||||||||||
| Inventory | 75,800 | (Click to select)SourceUseNone | 92,250 | ||||||||||
| Total | $ | 109,000 | $ | (Click to select)NoneUseSource | $ | 137,250 | |||||||
| Fixed assets | |||||||||||||
| Net plant and equipment | $ | 291,000 | $ | (Click to select)SourceUseNone | $ | 362,750 | |||||||
| Total assets | $ | 400,000 | $ | (Click to select)SourceNoneUse | $ | 500,000 | |||||||
| Liabilities and Owners Equity | |||||||||||||
| Current liabilities | |||||||||||||
| Accounts payable | $ | 62,400 | $ | (Click to select)NoneUseSource | $ | 65,750 | |||||||
| Notes payable | 26,400 | (Click to select)UseNoneSource | 31,500 | ||||||||||
| Total | $ | 88,800 | $ | (Click to select)SourceNoneUse | $ | 97,250 | |||||||
| Long-term debt | $ | 50,000 | $ | (Click to select)SourceNoneUse | $ | 40,000 | |||||||
| Owners' equity | |||||||||||||
| Common stock and paid-in surplus | $ | 52,000 | $ | (Click to select)NoneUseSource | $ | 52,000 | |||||||
| Accumulated retained earnings | 209,200 | (Click to select)NoneUseSource | 310,750 | ||||||||||
| Total | $ | 261,200 | $ | (Click to select)NoneSourceUse | $ | 362,750 | |||||||
| Total liabilities and owners' equity | $ | 400,000 | $ | (Click to select)SourceUseNone | $ | 500,000 | |||||||
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