Question

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. 2018 Assets 2017 $ 47.250 24,780 Current assets Cash Accounts receivable Inventory $ 11,025 22,225 44,625 $ 77,875 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2017 2018 Current liabilities $ 43,750 $ 11,970 Accounts payable 26,670 Notes payable 24,325 51,450 $ 90,090 Total $ 68,075 Long-term debt $ 35,000 Owners' equity Common stock and paid.in $ 42,000 surplus Retained earnings 204,925 $ 72,030 $ 21,000 Total $ 42,000 284,970 $246,925 $326,970 Net plant and equipment $ 272,125 Total $329,910 Total liabilities and owners' equity $350,000 $420,000 $420,000 $350,000 Total assets For each account on this company's balance sheet show the change in the account

Answer 1

Answers use uze Assets: 2017 change sources/2018 Current Assels:- 2018-2017 - Cash $ 11,025 ($945 use ($1.970 Accounts Receivable $22,225 $4,445 use $26670 Inventory $ 44,625 $6,825 $51,450 Total $77,875 $12,215 $90,090 Fixed Assels Net plant and equipment $272,125 $57,785 | use $329910 Total Assels $350,000 $70,000 use $420,oool Liabililies and owners equily- Current Liabililies: Accounts payable $43750 $3,500 source $47,250 Notes payable $24,325 $455 1 source $24,780 Total $68,075 $3,955 Source $72,030 Long term Debt $ 35,000 -$14.000 use $ 21,000 Owuers equity :- Commonslock and paid inseppling $ 42800 $0 None 1 $ 42.000 Accumulated retained earningo $204,965 $89045 | source | $284,970 Total $246985 $80,045 Source $326970 Totalliabilities and caners equily $350,000 $70000 source $4290oo