Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021.

For each account on this company’s balance sheet, show the change in the account during 2021 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. A negative answer should be indicated by a minus sign.)

 

Current assets
Cash
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
Assets
Liabilities and Owners' Equity
Current liabilities
Accounts payable
Notes payable
Total
Long-term debt
Owners' equity
Common stock and paid-in surplus
Retained earnings
Total
Total liabilities and owners' equity
$
$
$
$
$
$
$
$
$
$
2020
4,000
14,880
61,920
80,800
239,200
320,000
39,040
12,960
52,000
48,000
60,000
160,000
220,000
320,000
Sources/Uses
$
$
$
$
$
$ 357,840
$
480,000
$
2021
$
$
11,280
20,400
90,480
122,160
48,720
17,280
66,000
36,000
60,000
318,000
378,000
480,000
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Transcribed Image Text:Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ $ $ $ $ $ $ $ $ $ 2020 4,000 14,880 61,920 80,800 239,200 320,000 39,040 12,960 52,000 48,000 60,000 160,000 220,000 320,000 Sources/Uses $ $ $ $ $ $ 357,840 $ 480,000 $ 2021 $ $ 11,280 20,400 90,480 122,160 48,720 17,280 66,000 36,000 60,000 318,000 378,000 480,000
Assets
Current assets
Cash
Accounts receivable
Inventory
Total
Net plant and equipment
Total assets
2020
JUST DEW IT CORPORATION
2020 and 2021 Balance Sheets
2021
$ 4,000
$ 11,280
20,400
14,880
61,920 90,480
$80,800 $122,160
$
239,200
$ 357,840
$
$
320,000 480,000
Liabilities and Owners' Equity
Current liabilities
Accounts payable
Notes payable
Total
Total
2020
Total liabilities and owners' equity
2021
$39,040 $48,720
12,960 17,280
Long-term debt
Owners' equity
Common stock and paid-in surplus $60,000 $60,000
Retained earnings
160,000 318,000
$ 52,000 $ 66,000
$ 48,000 $36,000
$
220,000 378,000
$
$
320,000 480,000
expand button
Transcribed Image Text:Assets Current assets Cash Accounts receivable Inventory Total Net plant and equipment Total assets 2020 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 $ 4,000 $ 11,280 20,400 14,880 61,920 90,480 $80,800 $122,160 $ 239,200 $ 357,840 $ $ 320,000 480,000 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Total 2020 Total liabilities and owners' equity 2021 $39,040 $48,720 12,960 17,280 Long-term debt Owners' equity Common stock and paid-in surplus $60,000 $60,000 Retained earnings 160,000 318,000 $ 52,000 $ 66,000 $ 48,000 $36,000 $ 220,000 378,000 $ $ 320,000 480,000
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