17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year:current ratioquick rationcash ratioNWC to total assets ratiodebt-equity ratio and equity multiplierTotal debt ratio and long-term debt ration Just Dew It Corporation reports the following balance sheet information for 2020and 2021. Use this information to work Problems 13 through 17.JUST DEW IT CORPORATION2020 and 2021 Balance SheetsAssetsLiabilities and Owners' Equity2020202120202021Current assetsCurrent liabilitiesCash$ 14,588$ 17,631Accounts payable $ 55,653 $ 63,073Accounts receivable35,25841,019Notes payable21,89525,324Inventory65,56771,505$ 77,548 $ 88,397TotalTotal$115,413$130,155Long-term debt$458,000 $ 62,000Owners' equityCommon stock andpaid-in surplus$ 60,000 $ 60,000Retained earnings397,278418,179Net plant and equipment$477,413 $498,421Total$457,278 $478,179Total liabilities andTotal assets$592,826 $628,576owners' equity$592,826 $628,57613. Preparing Standardized Financial Statements [LO1] Prepare the 2020 and 2021

Name: 17) Based on the balance sheet given for Just Dew It, calculate the fo
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Description: 17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year:current ratioquick rationcash ratioNWC to total assets ratiodebt-equity ratio and equity multiplierTotal debt ratio and long-term debt ration

Here in this question we are required to make ratio analysis for various ratios. Ratio analysis is…

Answered: 17) Based on the balance sheet given…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year:

current ratio

quick ration

cash ratio

NWC to total assets ratio

debt-equity ratio and equity multiplier

Total debt ratio and long-term debt ration

Just Dew It Corporation reports the following balance sheet information for 2020
and 2021. Use this information to work Problems 13 through 17.
JUST DEW IT CORPORATION
2020 and 2021 Balance Sheets
Assets
Liabilities and Owners' Equity
2020
2021
2020
2021
Current assets
Current liabilities
Cash
$ 14,588
$ 17,631
Accounts payable $ 55,653 $ 63,073
Accounts receivable
35,258
41,019
Notes payable
21,895
25,324
Inventory
65,567
71,505
$ 77,548 $ 88,397
Total
Total
$115,413
$130,155
Long-term debt
$458,000 $ 62,000
Owners' equity
Common stock and
paid-in surplus
$ 60,000 $ 60,000
Retained earnings
397,278
418,179
Net plant and equipment
$477,413 $498,421
Total
$457,278 $478,179
Total liabilities and
Total assets
$592,826 $628,576
owners' equity
$592,826 $628,576
13. Preparing Standardized Financial Statements [LO1] Prepare the 2020 and 2021

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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