Question: Information to work Problems 13 Assets 2020 Current assets Cash $14,588 35,258 Accounts receivable Inventory Total 65,567 JUST DEW IT CORPORATION 2020 and 2021 Balance

 Information to work Problems 13 Assets 2020 Current assets Cash $14,588
35,258 Accounts receivable Inventory Total 65,567 JUST DEW IT CORPORATION 2020 and

Information to work Problems 13 Assets 2020 Current assets Cash $14,588 35,258 Accounts receivable Inventory Total 65,567 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Liabilities and Owners' Equity 2021 2020 2021 Current liabilities $17,631 Accounts payable $55,653 $63,073 41,019 Notes payable 21.895 25,324 71,505 Total $77,548 $88,397 $130,155 Long-term debt $58,000 $62,000 Owners' equity Common stock and paid-in surplus $60,000 $60,000 Retained earnings 397,278 418,179 $498,421 Total $457,278 $478.179 $592.826 $628.576 $628,576 Total liabilities and owners' equity $115,413 $477,413 Net plant and equipment Total assets $592,826 13. Preparing Standardized Financial Statements Con Prepare the 2020 and 2021 common size balance sheets for Just Dew it. Statement ou Prepare the 2021 common-base year balance sheet for Just Dew it. $592,826 $6 Preparing Standardized Financial Statements Loi Prepare the 2020 and 2021 common-size balance sheets for Just Dew It, Preparing Standardized Financial Statements 0 LOI Prepare the 2021 common-base year balance sheet for Just Dew It. Preparing Standardized Financial Statements LOL Prepare the 2021 combined common-size, common-base year balance sheet Just Dew It. Sources and Uses of Cash L01 For each account on this company's balance sheet show the change in the account during 2021 note whether this change was a source or use of cash. Do your numbers add up and make sense? Explain your answer for total assets compared to your answer for total liabilities and owners' equity

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!