Please Make Sure to do the rounding. Just Dew It Corporation reports the following balance sheet information for 2017 and2018.JUST DEW IT CORPORATION2017 and 2018 Balance SheetsAssetsLiabilities and Owners' Equity2017201820172018Current assetsCurrent liabilitiesCash$ 11,250$ 19,440Accounts payable$ 30,600$ 49,200Accounts11,85016,080Notes payable24,90031,200receivableInventory39,15060,240Total$ 62,250$ 95,760Total$ 55,500$ 80,400Long-term debt$ 27,000$ 24,000Owners' equityCommon stock and paid-insurplusRetained earnings$ 48,000$ 48,000169,500327,600Net plant andequipment$ 237,750$384,240Total$ 217,500$375,600Total liabilities and owners'Total assets$300,000$480,000$300,000$480,000equity Prepare the 2018 common-base year balance sheet for Just Dew It. (Do not roundintermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.)20172018AssetsCurrent assetsCash$11,250 $19,440Accounts receivable11,85016,080Inventory39,15060,240Total$62,250 S95,760Fixed assets237,750 $300,000 $Net plant and equipment384,240Total assets$480,000Liabilities and Owners' EquityCurrent liabilities30,600 S24,900 S55,500 S27,000 $Accounts payable$49,200Notes payable31,200Total$80,400Long-term debtOwners' equity24,000Common stock and paid-in surplus$48,000 S48,000Accumulated retained earnings169,500327,600217,500 $300,000 $Total375,600Total liabilities and owners' equity480,000%24%2424%24%24

Common base statement is the one which is prepared on taking a common base and then comparing all…

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 11,250 $ 19,440 Accounts payable $ 30,600 $ 49,200 Accounts 11,850 16,080 Notes payable 24,900 31,200 receivable Inventory 39,150 60,240 Total $ 62,250 $ 95,760 Total $ 55,500 $ 80,400 Long-term debt $ 27,000 $ 24,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 48,000 $ 48,000 169,500 327,600 Net plant and equipment $ 237,750 $384,240 Total $ 217,500 $375,600 Total liabilities and owners' Total assets $300,000 $480,000 $300,000 $480,000 equity

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 11,250 $ 19,440 Accounts payable $ 30,600 $ 49,200 Accounts 11,850 16,080 Notes payable 24,900 31,200 receivable Inventory 39,150 60,240 Total $ 62,250 $ 95,760 Total $ 55,500 $ 80,400 Long-term debt $ 27,000 $ 24,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 48,000 $ 48,000 169,500 327,600 Net plant and equipment $ 237,750 $384,240 Total $ 217,500 $375,600 Total liabilities and owners' Total assets $300,000 $480,000 $300,000 $480,000 equity

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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