Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Net plant and equipment 2020 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 $13,280 $14,600 7,520 19,200 42,400 51,000 $63,200 $84,800 $ 256 800 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total 2020 $315,200 Total 2021 $40,000 $41,800 14,240 21,600 $54,240 $63,400 $32,000 $24,000 Long-term debt Owners' equity Common stock and paid-in surplus $40,000 $40,000 Retained earnings 193,760 272,600 $ 233,760 $ 313 600
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Net plant and equipment 2020 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 $13,280 $14,600 7,520 19,200 42,400 51,000 $63,200 $84,800 $ 256 800 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total 2020 $315,200 Total 2021 $40,000 $41,800 14,240 21,600 $54,240 $63,400 $32,000 $24,000 Long-term debt Owners' equity Common stock and paid-in surplus $40,000 $40,000 Retained earnings 193,760 272,600 $ 233,760 $ 313 600
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
Problem 1PS
Related questions
Question
Transcribed Image Text:Just Dew It Corporation reports the following balance sheet information for 2020 and
2021.
Assets
Current assets
Cash
Accounts receivable
Inventory
Total
Net plant and equipment
Total assets
2020
$13,280 $14,600
19,200
51,000
$63,200 $84,800
7,520
42,400
JUST DEW IT CORPORATION
2020 and 2021 Balance Sheets
2021
$
256,800
$ 315,200
$
$
320,000 400,000
Liabilities and Owners' Equity
Current liabilities
Accounts payable
Notes payable
Total
Total
Total liabilities and owners' equity
2020
For each account on this company's balance sheet, show the change in the account
during 2021 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.)
Long-term debt
Owners' equity
Common stock and paid-in surplus $40,000 $ 40,000
Retained earnings
193,760 272,600
2021
$40,000 $41,800
14,240 21,600
$54,240 $63,400
$32,000 $24,000
$ 233,760
$
312,600
$
$
320,000 400,000
Transcribed Image Text:enter "0" wherever required. A negative answer should be indicated by a minus sign.)
Current assets
Cash
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
Assets
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
$
GA
$
$
GA
$
256,800
$ 320,000
$
GA
GA
$
GA
$
2020
13,280
7,520
42,400
63,200
549
40,000
193,760
$ 233,760
$
320,000
40,000
14,240
54,240
32,000
Sources/Uses
$
$
GA
$
GA GA
$
$
GA
$
$
GA
$
$
GA
GA
$
2021
14,600
19,200
51,000
84,800
315,200
400,000
41,800
21,600
63,400
24,000
40,000
272,600
312,600
400,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education