Saved 03 Pre Built Problems 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance S

Question

Saved 03 Pre Built Problems 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017 Current assets Current liabilities s 61600 62,160 18,240 book Cash s 7400 S 15.120 Accounts payable Notes payable 14.400 23.40025.200 76200 89.040 s 107000 129.360 Total s 76.000 80,400 s 48,000 36.000 Total Long-term debt Owners' equity Common s 60.000 60.000 216,000 303,600 Retained earnings Net plant and $293.000 $350640 Total $276.000 $363,600 Tolal assess5 $400000 $480000 T Total liabilities and owners $400,000 $480.00o equy Prepare the 2017 and 2018 common-size places, eg. 32.16 calence sheets for Just Dew it (Do not round Enter your answers as a percent rounded to 2 decimel Prey 6of10 n B Next >

Explanation / Answer

Ans. JUST DEWIT CORPORATION 2017 and 2018 Balance Sheet ASSETS LIABILITIES and OWNERS' EQUITY 2017 % 2018 % 2017 % 2018 % Current Assets Current Liabilities Cash 7400 1.85% 15120 3.15% Accounts payables 61600 15.40% 62160 12.95% Accounts receivables 23400 5.85% 25200 5.25% Notes payables 14400 3.60% 18240 3.80% Inventory 76200 19.05% 89040 18.55% Total 76000 19.00% 80400 16.75% Total 107000 26.75% 129360 26.95% Long term debt 48000 12.00% 36000 7.50% Net plant and equipment 293000 73.25% 350640 73.05% Owners equity 60000 15.00% 60000 12.50% Retained earnings 216000 54.00% 303600 63.25% Total 276000 69.00% 363600 75.75% Total assets 400000 100% 480000 100% Total liabilies and owners' equity 400000 100.00% 480000 100.00% *Calculations: Percentage for 2017 (assets side) = Particular asset of 2017 / total assets * 100 Percentage for 2018 (assets side) = Particular asset of 2018 / total assets * 100 Percentage of 2017 (liabilities side) = Particular liability of 2017 / Total liabilities and owners' equity * 100 Percentage of 2018 (liabilities side) = Particular liability of 2018 / Total liabilities and owners' equity * 100

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