Question

Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,120 Accounts payable $ 61,600 25,200 Notes payable 14,400 89,040 $ 7,400 23,400 76,200 $ 62,160 18,240 Total $ 107,000 $ 129,360 Total $ 76,000 $ 80,400 $ 48,000 $ 36,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 60,000 216,000 $ 60,000 303,600 Net plant and equipment $293,000 $350,640 Total $ 276,000 $363,600 Total assets $400,000 $480,000 Total liabilities and owners' equity $400,000 $480,000 For each arrunt on this romnanu'e balance choot how the channe in the account

Answer 1

Assets	2017	Sources	Uses	2018
Current assets
Cash	7400		7720	15120
Accounts receivable	23400		1800	25200
Inventory	76200		12840	89040
Total	107000			129360
Fixed assets
Net plant and equipment	293000		57640	350640
Total assets	400000			480000
Liabilities and Owners' Equity
Current liabilities
Accounts payable	61600	560		62160
Notes payable	14400	3840		18240
Total	76000			80400
Long term debt	48000		12000	36000
Owners' equity
Common stock and paid-in surplus	60000			60000
Accumulated retained earnings	216000	87600		303600
Total	276000			363600
Total liabilities and owners' equity	400000			480000