Homework Answers
Answer a.
2017:
Current Ratio = Current Assets / Current Liabilities
Current Ratio = $103,000 / $93,800
Current Ratio = 1.10
2018:
Current Ratio = Current Assets / Current Liabilities
Current Ratio = $129,750 / $104,250
Current Ratio = 1.24
Answer b.
2017:
Quick Ratio = (Current Assets - Inventory) / Current
Liabilities
Quick Ratio = ($103,000 - $77,000) / $93,800
Quick Ratio = 0.28
2018:
Quick Ratio = (Current Assets - Inventory) / Current
Liabilities
Quick Ratio = ($129,750 - $93,750) / $104,250
Quick Ratio = 0.35
Answer c.
2017:
Cash Ratio = Cash / Current Liabilities
Cash Ratio = $9,000 / $93,800
Cash Ratio = 0.10
2018:
Cash Ratio = Cash / Current Liabilities
Cash Ratio = $11,250 / $104,250
Cash Ratio = 0.11
Answer d.
2017:
NWC Ratio = (Current Assets - Current Liabilities) / Total
Assets
NWC Ratio = ($103,000 - $93,800) / $400,000
NWC Ratio = 0.023 or 2.30%
2018:
NWC Ratio = (Current Assets - Current Liabilities) / Total
Assets
NWC Ratio = ($129,750 - $104,250) / $500,000
NWC Ratio = 0.051 or 5.10%
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JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets 2018 11250Accounts payable Assets Liabilities and Owners...
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity...
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities 12.750 Accounts payable $ 50,000 14,250 Notes payable 19,000 95,250 $ Current assets Cash Accounts receivable Inventory $ 6,600 12,200 78,200 $ 68,750 35,500 Total $ 97,000 $ 122,250 Total $ 69,000 $ 48,000 $ 104,250 $ 45,000 Long-term debt Owners' equity Common stock and paid-in $ 50.000 surplus Retained earnings 233,000 $ 50,000 300,750 Total $ 97,000 $ 122,250...
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018...
JUST DEW IT CORPORATION
2017 and 2018 Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
6,600
$
12,750
Accounts payable
$
50,000
$
68,750
Accounts receivable
12,200
14,250
Notes payable
19,000
35,500
Inventory
78,200
95,250
Total
$
97,000
$
122,250
Total
$
69,000
$
104,250
Long-term debt
$
48,000
$
45,000
Owners’ equity
Common stock and paid-in
surplus
$
50,000
$
50,000
Retained earnings
233,000
300,750
Net plant and equipment
$...
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018...
JUST DEW IT CORPORATION 2017 and 2018 Balance
Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
11,250
$
19,440
Accounts payable
$
30,600
$
49,200
Accounts receivable
11,850
16,080
Notes payable
24,900
31,200
Inventory
39,150
60,240
Total
$
62,250
$
95,760
Total
$
55,500
$
80,400
Long-term debt
$
27,000
$
24,000
Owners’ equity
Common stock and paid-in
surplus
$
48,000
$
48,000
Retained earnings
169,500
327,600
Net plant and equipment
$...
JUST DEW IT CORPORATION . 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017...
JUST DEW IT CORPORATION . 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 39,040 48,720 17,280 $ 4,000 11.280 20,400 90,480 $80,800 122,160 Cash Accounts Accounts payable Notes payable 14,880 12,960 receivable Inventory 61,920 Total $52.000 66,000 $ 48,000 36,000 Total Long-term debt Owners' equity surplus Common stock and paid-in $60,000 60,000 160,000 318,000 $220,000 $378.000 Total liabilities and owners' $320,000 $480,000 Retained earnings Net plant and equipment $239,200...
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018...
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts $ 40,000 41,800 21,600 $ 13,280 $14,600 19,200 51,000 $ 63,200 $84,800 Accounts payable Notes payable 7,520 14,240 receivable Inventory 42,400 Total Total $ 54,240 63,400o Long-term debt 32,000 24,000 Owners' equity Common stock and paid-in $ 40,000 40,000 surplus 272,600 $233,760 312,600 Total liabilities and owners $320,000 $400,000 Retained earnings 193,760 Net plant and equipment...
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity...
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities 9,800 Accounts payable $ 48,000 14,200 Notes payable 10,350 75,800 Current assets Cash Accounts receivable Inventory $ $ 49,800 18,600 $ 4,350 11,550 58,350 $ 74,250 Total $ 99,800 Total $ 58,350 $ 68,400 Long-term debt $ 42,000 $ 34,000 Owners' equity Common stock and paid-in $45.000 surplus Retained earnings 154,650 $ 45,000 252,600 Net plant and equipment $225,750 $300,200...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW...
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 $ 10,150 $ 10,300 Accounts payable $ 70,250 $ 61,250 Accounts receivable 27,700 28,950 Notes payable 47,250 46,750 Inventory 62,300 64,800 Total $ 117,500 $ 108,000 Total $ 100,150 $...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 ook $...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 ook $ 73,750 $ 63,750 rences JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 10,500 $10.450 Cash Accounts payable 28,250 Accounts receivable 28,600 Notes payable 50,000 49,750 $ 123,750 $ 113,500 Inventory 64,300 63,500 Total $ 103,050 $ 102,550 $ 63,600 $ 64,600 Total Long-term debt Owners' equity Common stock and...
Questions E and F please JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities...
Questions E and F please
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts $ 13,280 14,600 19,200 51,000 $63,200 84,800 Accounts payable Notes payable $ 40,000 $41,800 21,600 7,520 14,240 receivable Inventory 42,400 Total Total $54,240 63,400 Long-term debt $32,000 24,000 Owners' equity Common stock and paid-in $ 40,000 40,000 surplus 272,600 $233,760 312,600 Total liabilities and owners $320,000 $400,000 Retained earnings 193,760 Net...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 Current assets Cash Accounts receivable Inventory $ 7,950 23,550 36,750 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 11,800 Accounts payable $ 40,500 $ 45,800 29,000 Notes payable 14,850 20,800 47.000 $ 87,800 Total 55,350 $ 66,600 Long-term debt $ 30,000 $ 24,000 Owners' equity Common stock and $42.000 $ 42,000 paid-in surplus...
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities 12.750 Accounts payable $ 50,000 14,250 Notes payable 19,000 95,250 $ Current assets Cash Accounts receivable Inventory $ 6,600 12,200 78,200 $ 68,750 35,500 Total $ 97,000 $ 122,250 Total $ 69,000 $ 48,000 $ 104,250 $ 45,000 Long-term debt Owners' equity Common stock and paid-in $ 50.000 surplus Retained earnings 233,000 $ 50,000 300,750 Total $ 97,000 $ 122,250...
JUST DEW IT CORPORATION
2017 and 2018 Balance Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
6,600
$
12,750
Accounts payable
$
50,000
$
68,750
Accounts receivable
12,200
14,250
Notes payable
19,000
35,500
Inventory
78,200
95,250
Total
$
97,000
$
122,250
Total
$
69,000
$
104,250
Long-term debt
$
48,000
$
45,000
Owners’ equity
Common stock and paid-in
surplus
$
50,000
$
50,000
Retained earnings
233,000
300,750
Net plant and equipment
$...
JUST DEW IT CORPORATION 2017 and 2018 Balance
Sheets
Assets
Liabilities and Owners’ Equity
2017
2018
2017
2018
Current assets
Current liabilities
Cash
$
11,250
$
19,440
Accounts payable
$
30,600
$
49,200
Accounts receivable
11,850
16,080
Notes payable
24,900
31,200
Inventory
39,150
60,240
Total
$
62,250
$
95,760
Total
$
55,500
$
80,400
Long-term debt
$
27,000
$
24,000
Owners’ equity
Common stock and paid-in
surplus
$
48,000
$
48,000
Retained earnings
169,500
327,600
Net plant and equipment
$...
JUST DEW IT CORPORATION . 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 39,040 48,720 17,280 $ 4,000 11.280 20,400 90,480 $80,800 122,160 Cash Accounts Accounts payable Notes payable 14,880 12,960 receivable Inventory 61,920 Total $52.000 66,000 $ 48,000 36,000 Total Long-term debt Owners' equity surplus Common stock and paid-in $60,000 60,000 160,000 318,000 $220,000 $378.000 Total liabilities and owners' $320,000 $480,000 Retained earnings Net plant and equipment $239,200...
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts $ 40,000 41,800 21,600 $ 13,280 $14,600 19,200 51,000 $ 63,200 $84,800 Accounts payable Notes payable 7,520 14,240 receivable Inventory 42,400 Total Total $ 54,240 63,400o Long-term debt 32,000 24,000 Owners' equity Common stock and paid-in $ 40,000 40,000 surplus 272,600 $233,760 312,600 Total liabilities and owners $320,000 $400,000 Retained earnings 193,760 Net plant and equipment...
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities 9,800 Accounts payable $ 48,000 14,200 Notes payable 10,350 75,800 Current assets Cash Accounts receivable Inventory $ $ 49,800 18,600 $ 4,350 11,550 58,350 $ 74,250 Total $ 99,800 Total $ 58,350 $ 68,400 Long-term debt $ 42,000 $ 34,000 Owners' equity Common stock and paid-in $45.000 surplus Retained earnings 154,650 $ 45,000 252,600 Net plant and equipment $225,750 $300,200...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 ook $ 73,750 $ 63,750 rences JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 10,500 $10.450 Cash Accounts payable 28,250 Accounts receivable 28,600 Notes payable 50,000 49,750 $ 123,750 $ 113,500 Inventory 64,300 63,500 Total $ 103,050 $ 102,550 $ 63,600 $ 64,600 Total Long-term debt Owners' equity Common stock and...
Questions E and F please
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts $ 13,280 14,600 19,200 51,000 $63,200 84,800 Accounts payable Notes payable $ 40,000 $41,800 21,600 7,520 14,240 receivable Inventory 42,400 Total Total $54,240 63,400 Long-term debt $32,000 24,000 Owners' equity Common stock and paid-in $ 40,000 40,000 surplus 272,600 $233,760 312,600 Total liabilities and owners $320,000 $400,000 Retained earnings 193,760 Net...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 Current assets Cash Accounts receivable Inventory $ 7,950 23,550 36,750 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 11,800 Accounts payable $ 40,500 $ 45,800 29,000 Notes payable 14,850 20,800 47.000 $ 87,800 Total 55,350 $ 66,600 Long-term debt $ 30,000 $ 24,000 Owners' equity Common stock and $42.000 $ 42,000 paid-in surplus...
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