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Assets JUST DEW IT CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 46,875 19,125 $ 66,000 $30,000 2023 2024 Current assets Cash $ 12,000 $ 17,775 Accounts receivable Inventory Total 12,750 50,250 $ 75,000 16,425 Notes payable 56,925 $91,125 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 45,000 234,000 Net plant and equipment Total assets $ 300,000 $ 358,875 $375,000 $450,000 Total liabilities and owners' equity Total $279,000 $375,000 2824 $ 55,575 24,750 $ 80,325 $27,000 $ 45,000 297,675 $ 342,675 $ 450,000 For each account on this company's balance sheet, show the change in the account during 2024 and note whether this change was a source or use of cash. Note: 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. 2023 Sources/Uses 2024 Assets Current assets Cash $ 12,000 $ 17,775 Accounts receivable 12,750 16,425 Inventory 50,250 56,925 Total $ 75,000 $ 91,125 Fixed assets Net plant and equipment 300,000 $ 358,875 Total assets $ 375,000 $450,000 Liabilities and Owners' Equity Current liabilities Accounts payable $ 46,875 55,575 Notes payable Total 19,125 24,750 $ 66,000 $ 80,325 < Prev 8 of 29 Next > earch www A 99+ 77°F Partly cloudy DII F3 FA A F6 PrtScn Home End FR FIO & $ % 2 3 4 5 6 7 8 W E R T Y U H 9 K

Assets JUST DEW IT CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 46,875 19,125 $ 66,000 $30,000 2023 2024 Current assets Cash $ 12,000 $ 17,775 Accounts receivable Inventory Total 12,750 50,250 $ 75,000 16,425 Notes payable 56,925 $91,125 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 45,000 234,000 Net plant and equipment Total assets $ 300,000 $ 358,875 $375,000 $450,000 Total liabilities and owners' equity Total $279,000 $375,000 2824 $ 55,575 24,750 $ 80,325 $27,000 $ 45,000 297,675 $ 342,675 $ 450,000 For each account on this company's balance sheet, show the change in the account during 2024 and note whether this change was a source or use of cash. Note: 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. 2023 Sources/Uses 2024 Assets Current assets Cash $ 12,000 $ 17,775 Accounts receivable 12,750 16,425 Inventory 50,250 56,925 Total $ 75,000 $ 91,125 Fixed assets Net plant and equipment 300,000 $ 358,875 Total assets $ 375,000 $450,000 Liabilities and Owners' Equity Current liabilities Accounts payable $ 46,875 55,575 Notes payable Total 19,125 24,750 $ 66,000 $ 80,325 < Prev 8 of 29 Next > earch www A 99+ 77°F Partly cloudy DII F3 FA A F6 PrtScn Home End FR FIO & $ % 2 3 4 5 6 7 8 W E R T Y U H 9 K

FINANCIAL ACCOUNTING
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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Assets JUST DEW IT CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 46,875 19,125 $ 66,000 $30,000 2023 2024 Current assets Cash $ 12,000 $ 17,775 Accounts receivable Inventory Total 12,750 50,250 $ 75,000 16,425 Notes payable 56,925 $91,125 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 45,000 234,000 Net plant and equipment Total assets $ 300,000 $ 358,875 $375,000 $450,000 Total liabilities and owners' equity Total $279,000 $375,000 2824 $ 55,575 24,750 $ 80,325 $27,000 $ 45,000 297,675 $ 342,675 $ 450,000 For each account on this company's balance sheet, show the change in the account during 2024 and note whether this change was a source or use of cash. Note: 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. 2023 Sources/Uses 2024 Assets Current assets Cash $ 12,000 $ 17,775 Accounts receivable 12,750 16,425 Inventory 50,250 56,925 Total $ 75,000 $ 91,125 Fixed assets Net plant and equipment 300,000 $ 358,875 Total assets $ 375,000 $450,000 Liabilities and Owners' Equity Current liabilities Accounts payable $ 46,875 55,575 Notes payable Total 19,125 24,750 $ 66,000 $ 80,325 < Prev 8 of 29 Next > earch www A 99+ 77°F Partly cloudy DII F3 FA A F6 PrtScn Home End FR FIO & $ % 2 3 4 5 6 7 8 W E R T Y U H 9 K
Transcribed Image Text:Assets JUST DEW IT CORPORATION 2023 and 2024 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2023 $ 46,875 19,125 $ 66,000 $30,000 2023 2024 Current assets Cash $ 12,000 $ 17,775 Accounts receivable Inventory Total 12,750 50,250 $ 75,000 16,425 Notes payable 56,925 $91,125 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 45,000 234,000 Net plant and equipment Total assets $ 300,000 $ 358,875 $375,000 $450,000 Total liabilities and owners' equity Total $279,000 $375,000 2824 $ 55,575 24,750 $ 80,325 $27,000 $ 45,000 297,675 $ 342,675 $ 450,000 For each account on this company's balance sheet, show the change in the account during 2024 and note whether this change was a source or use of cash. Note: 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. 2023 Sources/Uses 2024 Assets Current assets Cash $ 12,000 $ 17,775 Accounts receivable 12,750 16,425 Inventory 50,250 56,925 Total $ 75,000 $ 91,125 Fixed assets Net plant and equipment 300,000 $ 358,875 Total assets $ 375,000 $450,000 Liabilities and Owners' Equity Current liabilities Accounts payable $ 46,875 55,575 Notes payable Total 19,125 24,750 $ 66,000 $ 80,325 < Prev 8 of 29 Next > earch www A 99+ 77°F Partly cloudy DII F3 FA A F6 PrtScn Home End FR FIO & $ % 2 3 4 5 6 7 8 W E R T Y U H 9 K
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