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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
not use ai please
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
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education