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Homework answers / question archive / 8 Just Dew lt Corporation reports the following balance sheet information for 2017 and 2018 588 Assets 2017 Current assets Cash Accounts receivable Inventory $ 1
8 Just Dew lt Corporation reports the following balance sheet information for 2017 and 2018 588 Assets 2017 Current assets Cash Accounts receivable Inventory $ 1.200 19.000 51,800 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 18.260 Accounts payable $ 58.400 23,100 Notes payable 23.400 54780 Total $ 85.000 2018 $ 96,140 Total $ 61,820 25.080 Long-term debt Net plant and equipment $ 81,800 $ 32,000 $ 86.900 Owners' equity Common stock and paid in Surplus Retained earnings 5 315,000 Total assets $343 860 $ 22,000 $400.000 Total $440,000 $ 44.000 242.200 Total abilities and owners $ 44,000 287100 equity $286.200 % R 6 T & 7 * 8 é ve U 9 0 H 2 0 B D
Saved 8 Current assets Cash Accounts receivable Inventory $ 18,260 5.89 $ 14,200 19,000 51,800 Current liabilities Accounts payable Notes payable 23,100 Total 54.780 $ 58,400 23,400 $ 61 $ 85.000 $ 96,140 25,0 Total Long-term debt $ 81,800 $ 86,900 $ 32,000 Net plant and equipment Owners' equity Common stock and paid-in Surplus Retained earnings $ 22,000 $ 315,000 Total assets $343,860 $ 44,000 242,200 $400,000 Total $ 44,000 287,100 $440,000 Total liabilities and owners equity $286,200 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 "o" wherever required. A negative answer should be indicated by a minus sign.) $ 331,100 $400,000 $440,000 & 7 T * O C FIO 9 ) 0
enter "0" wherever required. A negative answer should be indicated by a minus sign.) 2017 Sources/Uses 2018 Assets Current assets Cash $ Accounts receivable $ 14,200 19,000 51,800 Inventory Total 18,260 23,100 54,780 96,140 $ 85.000 $ $ Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 315.000 400,000 $ $ 343,860 440,000 $ $ Total Long-term debt $ 58,400 23,400 81.800 32.000 $ $ Owners' equity Common stock and paid-in surplus Accumulated retained earrings Total Total abilities and owners' equity 61,820 25,080 86.900 22,000 $ $ 44,000 242,200 286,200 400.000 $ $ $ $ 44,000 287,100 331,100 440.00
2017 | 2018 | Increase/(decrease) | Source/Uses | |
Current Assets | ||||
Cash | 14200 | 18260 | 4060 | |
Accounts receivable | 19000 | 23100 | 4100 | Use |
Inventory | 51800 | 54780 | 2980 | Use |
Total | 85000 | 96140 | 11140 | Use |
Fixed Asset | ||||
Net plant and equipment | 315000 | 343860 | 28860 | Use |
Total Assets | 400000 | 440000 | 40000 | Use |
Liabilities and Owners Equity | ||||
Current Liabilities | ||||
Accounts payable | 58400 | 61820 | 3420 | Source |
Notes payable | 23400 | 25080 | 1680 | Source |
Total | 81800 | 86900 | 5100 | Source |
Long term debt | 32000 | 22000 | -10000 | Use |
Owners Equity | ||||
Common stock and paid in surplus | 44000 | 44000 | 0 | None |
Accumulated retained earnings | 242200 | 287100 | 44900 | Source |
Total | 286200 | 331100 | 44900 | Source |
Total liabilities and equity | 400000 | 440000 | 40000 | Source |