Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total 2020 Total assets JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 $ 17,631 $14,588 35,258 41,019 65,567 71,505 $115,413 $130,155 Net plant and equipment $ 477,413 $498,421 $ 592,826 $ 628,576 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 2020 2021 $ 55,653 $63,073 21,895 25,324 $77,548 $88,397 $58,000 $62,000 60,000 $60,000 397,278 418,179 $ 457,278 $ 478,179 $ $ 592,826 628,576
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total 2020 Total assets JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 $ 17,631 $14,588 35,258 41,019 65,567 71,505 $115,413 $130,155 Net plant and equipment $ 477,413 $498,421 $ 592,826 $ 628,576 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 2020 2021 $ 55,653 $63,073 21,895 25,324 $77,548 $88,397 $58,000 $62,000 60,000 $60,000 397,278 418,179 $ 457,278 $ 478,179 $ $ 592,826 628,576
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Vishnu
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Just Dew It Corporation reports the following balance sheet information for 2020 and
2021.
Assets
Current assets
Cash
Accounts receivable
Inventory
Total
2020
Total assets
JUST DEW IT CORPORATION
2020 and 2021 Balance Sheets
2021
$14,588
$17,631
35,258
41,019
65,567 71,505
$115,413 $130,155
Net plant and equipment $477,413 $498,421
$
592,826
$628,576
Liabilities and Owners' Equity
Current liabilities
Accounts payable
Notes payable
Total
Total
Total liabilities and owners' equity
2020
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.)
2021
Long-term debt
Owners' equity
Common stock and paid-in surplus $60,000 $60,000
Retained earnings
397,278 418,179
$457,278 $478,179
$ 55,653 $63,073
21,895 25,324
$77,548 $88,397
$ 58,000 $62,000
$
$
592,826 628,576
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