Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 12,157 $ 14,105 Accounts payable $ 46,382 $ 49,276 Accounts receivable 29,382 32,815 Notes payable 18,246 19,784 Inventory 54,632 57,204 Total $ 96,171 $ 104,124 Total $ 64,628 $ 69,060 Long-term debt $ 49,000 $ 45,000 Owners’ equity Common stock and paid-in surplus $ 50,000 $ 50,000 Retained earnings 299,784 315,894 Net plant and equipment $ 367,241 $ 375,830 Total $ 349,784 $ 365,894 Total assets $ 463,412 $ 479,954 Total liabilities and owners’ equity $ 463,412 $ 479,954 For each account on this company’s balance sheet, show the change in the account during 2018 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.) Just Dew It Corporation reports the following balance sheet information for 2017 and 2018.
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 12,157 $ 14,105 Accounts payable $ 46,382 $ 49,276 Accounts receivable 29,382 32,815 Notes payable 18,246 19,784 Inventory 54,632 57,204 Total $ 96,171 $ 104,124 Total $ 64,628 $ 69,060 Long-term debt $ 49,000 $ 45,000 Owners’ equity Common stock and paid-in surplus $ 50,000 $ 50,000 Retained earnings 299,784 315,894 Net plant and equipment $ 367,241 $ 375,830 Total $ 349,784 $ 365,894 Total assets $ 463,412 $ 479,954 Total liabilities and owners’ equity $ 463,412 $ 479,954 For each account on this company’s balance sheet, show the change in the account during 2018 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.) Just Dew It Corporation reports the following balance sheet information for 2017 and 2018.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
|
Just Dew It Corporation reports the following |
| JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets |
||||||||||||||||
| Assets | Liabilities and Owners’ Equity | |||||||||||||||
| 2017 | 2018 | 2017 | 2018 | |||||||||||||
| Current assets | Current liabilities | |||||||||||||||
| Cash | $ | 12,157 | $ | 14,105 | Accounts payable | $ | 46,382 | $ | 49,276 | |||||||
| |
29,382 | 32,815 | Notes payable | 18,246 | 19,784 | |||||||||||
| Inventory | 54,632 | 57,204 | ||||||||||||||
| Total | $ | 96,171 | $ | 104,124 | Total | $ | 64,628 | $ | 69,060 | |||||||
| Long-term debt | $ | 49,000 | $ | 45,000 | ||||||||||||
| Owners’ equity | ||||||||||||||||
| Common stock and paid-in surplus | $ | 50,000 | $ | 50,000 | ||||||||||||
| |
299,784 | 315,894 | ||||||||||||||
| Net plant and equipment | $ | 367,241 | $ | 375,830 | Total | $ | 349,784 | $ | 365,894 | |||||||
| Total assets | $ | 463,412 | $ | 479,954 | Total liabilities and owners’ equity | $ | 463,412 | $ | 479,954 | |||||||
| For each account on this company’s balance sheet, show the change in the account during 2018 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.) |
|
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. |
Transcribed Image Text:2017
Sources/Uses
2018
Assets
Current assets
Cash
$
12,157
14,105
Accounts receivable
29,382
32,815
Inventory
54,632
57,204
Total
96,171
$
104,124
Fixed assets
Net plant and equipment
$
367,241
$
375,830
Total assets
463,412
$
479,954
Liabilities and Owners' Equity
Current liabilities
Accounts payable
$
46,382
49,276
Notes payable
18,246
19,784
Total
$
64,628
$
69,060
Long-term debt
Owners' equity
$
49,000
$
45,000
Common stock and paid-in surplus
$
50,000
$
50,000
Accumulated retained earnings
299,784
315,894
Total
349,784
365,894
Total liabilities and owners' equity
463,412
$
479,954
%24
%24
%24
%24
%24
%24
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