Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash $11,000 $14,250 Accounts receivable 27,000 36,750 Inventory 75,000 96,250 Total $113,000 $147,250 2020 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Total assets $ Net plant and equipment 287,000 352.750 Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ $ 400,000 500,000 Total liabilities and owners' equity 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.) Snurces/Uses 2020 2021 $54,000 $63,750 14,800 20,500 $ 68,800 $ 84,250 $50,000 $40,000 $ 55,000 $ 55,000 226,200 320,750 $281,200 $ 375,750 $ 400,000 500,000 2021 Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash $11,000 $14,250 Accounts receivable 27,000 36,750 Inventory 75,000 96,250 Total $113,000 $147,250 2020 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Total assets $ Net plant and equipment 287,000 352.750 Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ $ 400,000 500,000 Total liabilities and owners' equity 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.) Snurces/Uses 2020 2021 $54,000 $63,750 14,800 20,500 $ 68,800 $ 84,250 $50,000 $40,000 $ 55,000 $ 55,000 226,200 320,750 $281,200 $ 375,750 $ 400,000 500,000 2021
Expert Answer:
Answer rating: 100% (QA)
Here is the analysis of the changes in each account on the balance sheet ... View the full answer
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Posted Date:
Students also viewed these finance questions
-
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets 2017 Liabilities and Owners' Equity 2017 2018...
-
ust Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Liabilities and Owners Equity 2020 2021...
-
The following balance sheet information represents actual data for 2011 and forecasted data for 2012: The actual income statement for 2011 is as follows: Sales . . . . . . . . . . . . . . . . . . . ....
-
What is a reporting entity?
-
A review of the ledger of Remington Company at December 31, 2010, produces the following data pertaining to the preparation of annual adjusting entries. 1. Salaries Payable $0.There are eight...
-
A hydrogen atom in its 1st excited state drops down to its ground state emitting a photon in the process. Find the energy of that photon.
-
Explain (a) depositor insurance, (b) lender of last resort, (c) systemically important financial institution.
-
The president of The Parkview Company has recently become concerned that the bookkeeper has embezzled cash from the company. She asks you, confidentially, to look over the bank reconciliation that...
-
For the following data, what is the 3-period moving average forecast for the 9th period? Period Actual 1 12 2 14 3 13 4 15 5 17 6 18 7 15 8 20
-
A camera is listed for $599 less 30%, 20%, and 5%. (a) What is the net price? (b) What is the total amount of discount allowed? (c) What is the exact single rate of discount that was allowed?
-
50% 0.674 60% 0.841 70% 1.036 80% 1.282 90% 1.645 95% 1.960 96% 2.054 98% 2.326 99% 2.576 99.5% 2.807 99.8% 3.091 99.9% 3.291 The ideal (daytime) noise-level for hospitals is 45 decibels with a...
-
Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable...
-
18. An arrow is fired into a small target at rest on a frictionless surface. The arrow's mass is 20 g and the target's mass is 2.50 kg. If the speed of the arrow and target combined is 0.67 m/s, what...
-
Analysis of the elements of the crime Instructions After studying the required resources, analyze the different elements of the crime and their relationship with the special criminal laws. You must...
-
Analyse the Land and Business (Sale and Conveyancing) Act 1994 that applies to South Australia. report that includes: 4003RE02Q02: Explain the purpose of the Land and Business (Sale and Conveyancing)...
-
With whom do you have the most troublesome conflicts? What are your conflicts with these parties about? What have you noticed about the different ways in which men and women engage conflict? Why is...
-
In January, the United Kingdom saw a record net budget surplus of 16.7 billion ($21.1 billion), attributed to the typical surplus pattern in January due to receipts from self-assessed annual income...
-
Given the table below, about how much force does the rocket engine exert on the 4.0 kg payload? Distance traveled with rocket engine firing (m) Payload final velocity (m/s) 500 320 490 310 1020 450...
-
Zoso Industries has a zero coupon bond issue that matures in two years with a face value of $50,000. The current value of the companys assets is $34,600, and the standard deviation of the return on...
-
You are planning to make monthly deposits of $475 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will...
-
You own a portfolio that is invested 15 percent in Stock X, 35 percent in Stock Y, and 50 percent in Stock Z. The expected returns on these three stocks are 9 percent, 15 percent, and 12 percent,...
-
What happens to the oligopolists profits if entry is easy?
-
What is price leadership?
-
In an oligopoly such as the U.S. domestic airline industry, a firm such as United Airlines would a. carefully anticipate Delta, JetBlue, and Southwests likely responses before it raised or lowered...
Study smarter with the SolutionInn App