Question

Chapter 3 Assignment 2018 Assets 2017 $ 53,000 147 points $ Current assets Cash Accounts receivable Inventory 6,560 16,160 61,280 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 I Current liabilities $ 8,600 Accounts payable $ 51,840 22,600 Notes payable 21,600 74,600 $105,800 Total $ 73,440 Long-term debt $ 32,000 eBook Total $ 84,000 $ 76,600 $30,000 References Owners' equity Common stock and paid-in $ 40,000 surplus Retained earnings 174,560 $ 40,000 253,400 $236,000 $294,200 Total Net plant and equipment $293,400 $ 214,560 Total liabilities and owners' equity $400,000 $320,000 Total assets $320,000 $400,000 Prepare the 2018 common-base year balance sheet for Just Dew it. (Do not round Intermediate calculations and round your answers to 4 decimal places, e... 321616.)

Answer 1

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2017 1 2018 Assets | Current Assets Cash 1$6560 & 8600 11-3109 Accounts hereivable 1 & 16,160 & 22, 600 11:3985 Inventory . 1$ 61,280 $74,600 11:2173 Total $ 84,000 $ 105,800 1.2595 fixed Assets Net Plqut and Equipment $236,000 $994, 200 | 1.2466 Total Assets | $320,000 $ 400,000 1.2500 | Labilities and owner's equitet Carent liabilities Accounts payable | $ 51,840 / $ 53,000 1.0223 Notes payable 1$ 21,600 $23,600 1.0925 Total $73,440 $ 76,600 1 01.0430 long-term Debt $ 32,000 $30,000 0.9375 Owner's equity Common stock and payd-in surple 540,000 $40,000 1.0000 Accumulated veetained Earnings | $174,560 | 3253,400 1.4516 Total 16214, 560 | $293,400 | 1.3674 Fatal liabilities and auner's equityl 4 320,000 $ 400,000 1.2500