Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets...

80.2K

Verified Solution

Question

Accounting

image
image
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 14,105 Accounts payable $ 46,382 32,815 Notes payable 18,246 57,204 Current assets Cash Accounts receivable Inventory 2018 $ 12,157 29,382 54,632 $ 49,276 19,784 Total $ 96,171 $ 104,124 Total $ 64,628 $ 69,060 Long-term debt $ 49,000 $ 45,000 Owners' equity Common stock and paid in surplus Retained earnings $ 50,000 299,784 $ 50,000 315,894 Net plant and equipment $367,241 $375,830 Total $349,784 $365,894 Total assets $463,412 $479,954 Total liabilities and owners equity $ 463,412 $ 479,954 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.g. 32.1616.) 2017 2018 Assets 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.g., 32.1616.) 2017 2018 -59 Assets 12,157 $ 29,382 54,632 96,171 $ 14,105 32,815 57,204 104,124 $ $ $ 367,241 $ 463,412 $ 375,830 479,954 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 46,382 $ 18,246 64,628 $ 49,000 $ $ 49,276 19.784 69,060 45,000 $ $ 50,000 $ 299.784 349,784 $ 463,412 $ $ 50,000 315,894 365,894 479,954 $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students