Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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 | $ | 10,200 | $ | 13,200 | Accounts payable | $ | 46,000 | $ | 62,160 | |||||||||||||||||||||
| Accounts receivable | 30,200 | 38,640 | Notes payable | 27,800 | 33,120 | |||||||||||||||||||||||||
| Inventory | 74,600 | 87,120 | ||||||||||||||||||||||||||||
| Total | $ | 115,000 | $ | 138,960 | Total | $ | 73,800 | $ | 95,280 | |||||||||||||||||||||
| Long-term debt | $ | 40,000 | $ | 36,000 | ||||||||||||||||||||||||||
| Owners equity | ||||||||||||||||||||||||||||||
| Common stock and paid-in surplus | $ | 60,000 | $ | 60,000 | ||||||||||||||||||||||||||
| Retained earnings | 226,200 | 288,720 | ||||||||||||||||||||||||||||
| Net plant and equipment | $ | 285,000 | $ | 341,040 | Total | $ | 286,200 | $ | 348,720 | |||||||||||||||||||||
| Total assets | $ | 400,000 | $ | 480,000 | Total liabilities and owners equity | $ | 400,000 | $ | 480,000 | |||||||||||||||||||||
| ||||||||||||||||||||||||||||||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Oxford Handbook Of The Sociology Of Finance
Authors: Karin Knorr Cetina, Alex Preda
1st Edition
0198708777, 978-0198708773
