Current assets Cash Accounts receivable S Inventory Total Net plant and equipment Total assets Assets Fixed assets 2017 $ 10,200 30,200 74,600 $ 115,000 Current assets Cash Accounts receivable Inventory Total $285,000 $400,000 Assets 2018 Net plant and equipment $ 13,200 38,640 87,120 $138,960 $ 341,040 $480,000 $ $ 2017 Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in Retained earnings surplus 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 "0" wherever required. A negative answer should be indicated by a minus sign.) Liabilities and Owners' Equity 2017 Total 10,2003 30,200 74,600 115,000 Total liabilities and owners' equity $ 285,000 Sources/Uses $ 46,000 27,800 $ 73,800 $ $ 40,000 $ 60,000 226,200 $286,200 $400,000 2018 13,200 38,640 87,120 5 138,960 2018 $ 62,160 33,120 $ 95,280 $ 36,000 $ 60,000 288,720 $348,720 $480,000

Current assets Cash Accounts receivable S Inventory Total Net plant and equipment Total assets Assets Fixed assets 2017 $ 10,200 30,200 74,600 $ 115,000 Current assets Cash Accounts receivable Inventory Total $285,000 $400,000 Assets 2018 Net plant and equipment $ 13,200 38,640 87,120 $138,960 $ 341,040 $480,000 $ $ 2017 Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in Retained earnings surplus 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 "0" wherever required. A negative answer should be indicated by a minus sign.) Liabilities and Owners' Equity 2017 Total 10,2003 30,200 74,600 115,000 Total liabilities and owners' equity $ 285,000 Sources/Uses $ 46,000 27,800 $ 73,800 $ $ 40,000 $ 60,000 226,200 $286,200 $400,000 2018 13,200 38,640 87,120 5 138,960 2018 $ 62,160 33,120 $ 95,280 $ 36,000 $ 60,000 288,720 $348,720 $480,000

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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