Question

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 Retained earnings 172,650 267,400 Total $ 68,250 Net plant and equipment $ 231,750 $ 312,200 Total $ 214,650 $309,400 Total assets $300,000 $400,000 Total liabilities and owners' equity $300,000 $400,000 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.) 2017 Sources Uses 2018 $ $ 7.950 23.550 36.750 68,250 11,800 29,000 47.000 87,800 $ $ $ $ $ 231.750 300.000 $ $ 312.200 400,000 Assets Current assets Cash Accounts receivable Inventory Total Faxed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current libre Accounts payable Notes payable Total Long-term det Owners equity Common stock and paid in surplus Accumulated retained earrings Total Total abilities and owners' equity $ $ 40.500 14,850 55,350 30.000 45,800 20,800 66,500 24,000 $ $ $ $ $ $ 42.000 172.650 214.650 300.000 42.000 267,400 309,400 400,000 $ $ $ $

Answer 1

2017 Sources/Uses 2018 Use $ $ $ $ 7,950 $ 23,550 $ 36,750 $ 68,250 $ 3,850 5,450 10,250 19,550 Use Use Use $ $ $ $ 11,800 29,000 47,000 87,800 $ 231,750 $ 80,450 $ 300,000 $ 100,000 Use Use $ 312,200 $ 400,000 Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity $ $ $ $ 40,500 $ 14,850 $ 55,350 $ 30,000 $ 5,300 5,950 11,250 6,000 Source Source Source $ $ $ $ 45,800 20,800 66,600 24,000 Use None Source $ 42,000 $ $ 172,650 $ 94,750 $ 214,650 $ 94,750 $ 300,000 $ 100,000 $ 42,000 $ 267,400 $ 309,400 $ 400,000 Source Source