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JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Current assets Liabilities and Owners' Equity Current liabilities 2020 2021 Cash $12,000 $ 17,775 Accounts payable Accounts receivable 12,750 16,425 Notes payable $46,875 $55,575 19,125 24,750 Inventory 50,250 56,925 Total $75,000 $91,125 Total $66,000 $80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $45,000 $45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ $ 358,875 Total $279,000 342,675 $ $ Total assets $375,000 Total liabilities and owners' equity $375,000 450,000 450,000 Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity 2020 2021 $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 69 75,000 $ 91,125 $ 300,000 $ 358,875 $ 375,000 $ 450,000 Current liabilities Accounts payable $ 46,875 $ 55,575 Notes payable $ 19,125 $ 24,750 Total $ 66,000 $ 80,325 Long-term debt $ 30,000 $ 27,000 Owners' equity Common stock and paid-in surplus $ 45,000 $ 45,000 Retained earnings 234,000 297,675 Total 279,000 $ 342,675 Total liabilities and owners' equity $ 375,000 $ 450,000

JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Current assets Liabilities and Owners' Equity Current liabilities 2020 2021 Cash $12,000 $ 17,775 Accounts payable Accounts receivable 12,750 16,425 Notes payable $46,875 $55,575 19,125 24,750 Inventory 50,250 56,925 Total $75,000 $91,125 Total $66,000 $80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $45,000 $45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ $ 358,875 Total $279,000 342,675 $ $ Total assets $375,000 Total liabilities and owners' equity $375,000 450,000 450,000 Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity 2020 2021 $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 69 75,000 $ 91,125 $ 300,000 $ 358,875 $ 375,000 $ 450,000 Current liabilities Accounts payable $ 46,875 $ 55,575 Notes payable $ 19,125 $ 24,750 Total $ 66,000 $ 80,325 Long-term debt $ 30,000 $ 27,000 Owners' equity Common stock and paid-in surplus $ 45,000 $ 45,000 Retained earnings 234,000 297,675 Total 279,000 $ 342,675 Total liabilities and owners' equity $ 375,000 $ 450,000

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Current assets Liabilities and Owners' Equity Current liabilities 2020 2021 Cash $12,000 $ 17,775 Accounts payable Accounts receivable 12,750 16,425 Notes payable $46,875 $55,575 19,125 24,750 Inventory 50,250 56,925 Total $75,000 $91,125 Total $66,000 $80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $45,000 $45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ $ 358,875 Total $279,000 342,675 $ $ Total assets $375,000 Total liabilities and owners' equity $375,000 450,000 450,000 Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity 2020 2021 $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 69 75,000 $ 91,125 $ 300,000 $ 358,875 $ 375,000 $ 450,000 Current liabilities Accounts payable $ 46,875 $ 55,575 Notes payable $ 19,125 $ 24,750 Total $ 66,000 $ 80,325 Long-term debt $ 30,000 $ 27,000 Owners' equity Common stock and paid-in surplus $ 45,000 $ 45,000 Retained earnings 234,000 297,675 Total 279,000 $ 342,675 Total liabilities and owners' equity $ 375,000 $ 450,000
Transcribed Image Text:JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Current assets Liabilities and Owners' Equity Current liabilities 2020 2021 Cash $12,000 $ 17,775 Accounts payable Accounts receivable 12,750 16,425 Notes payable $46,875 $55,575 19,125 24,750 Inventory 50,250 56,925 Total $75,000 $91,125 Total $66,000 $80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $45,000 $45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ $ 358,875 Total $279,000 342,675 $ $ Total assets $375,000 Total liabilities and owners' equity $375,000 450,000 450,000 Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity 2020 2021 $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 69 75,000 $ 91,125 $ 300,000 $ 358,875 $ 375,000 $ 450,000 Current liabilities Accounts payable $ 46,875 $ 55,575 Notes payable $ 19,125 $ 24,750 Total $ 66,000 $ 80,325 Long-term debt $ 30,000 $ 27,000 Owners' equity Common stock and paid-in surplus $ 45,000 $ 45,000 Retained earnings 234,000 297,675 Total 279,000 $ 342,675 Total liabilities and owners' equity $ 375,000 $ 450,000
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