Question

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 Current assets Cash Accounts receivable Inventory $ 6,600 12,200 78,200 $ 97,000 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 12.750 Accounts payable $50,000 $ 68,750 14250 Notes payable 19,000 35,500 95,250 $122,250 Total $ 69,000 $104,250 Long-term debt $ 48,000 $ 45,000 Total Owners' equity Common stock and paid in $ 50,000 surplus Retained earnings 233,000 $50,000 300,750 Net plant and equipment $303.000 $377,750 Total $283,000 $350,750 Total assets $400,000 $500,000 Total abilities and owners equity $400,000 $500,000 < Prev 11 of 13 Next > DF G

Answer 1

2017 | Sources / 2018 eyes Assets Current Assets Cash | $ 6600 Accounts receivable ! 12200 Inventory 78200 $6150 2050 17050 use use use $12750 14250 95250 $25250 use $122250 $74750 use $377750 $100000 I use 1500000 $187.50 Source Total & 97000 Fixed Assets Net Plant and equipmeal 8303000 Total Assets $ 400000 liabilities and ourers Equity Current liabilities Accounts Payable 1850000 Notes Payable 19000 Total $69000 long-term Debe $48000 oleners' Equity Common stock and paind- $50000 in surpley Accumulated retained | 233000 $68750 35500 16 500 Source $35250 $-30oo Sowa use 904250 $45000 $0 None $50000 $67750 Source 300750 earnings Total $283000 $67750 sowie $350450 Total liabilities and owned $400000 $ 100ooo Source $500000