Just Dew It Corporation reports the following balance sheet information for 2020 and2021.AssetsCurrent assetsCashAccounts receivableInventoryTotalNet plant and equipmentTotal assets2020$13,280 $14,60019,20051,000$63,200 $84,8007,52042,400JUST DEW IT CORPORATION2020 and 2021 Balance Sheets2021$256,800$ 315,200$$320,000 400,000Liabilities and Owners' EquityCurrent liabilitiesAccounts payableNotes payableTotalTotalTotal liabilities and owners' equity2020For each account on this company's balance sheet, show the change in the accountduring 2021 and note whether this change was a source or use of cash. (If there is noaction select "None" from the dropdown options. Leave no cells blank - be certain toenter "0" wherever required. A negative answer should be indicated by a minus sign.)Long-term debtOwners' equityCommon stock and paid-in surplus $40,000 $ 40,000Retained earnings193,760 272,6002021$40,000 $41,80014,240 21,600$54,240 $63,400$32,000 $24,000$ 233,760$312,600$$320,000 400,000 enter "0" wherever required. A negative answer should be indicated by a minus sign.)Current assetsCashAccounts receivableInventoryTotalFixed assetsNet plant and equipmentTotal assetsAssetsLiabilities and Owners' EquityCurrent liabilitiesAccounts payableNotes payableTotalLong-term debtOwners' equityCommon stock and paid-in surplusRetained earningsTotalTotal liabilities and owners' equity$GA$$GA$256,800$ 320,000$GAGA$GA$202013,2807,52042,40063,20054940,000193,760$ 233,760$320,00040,00014,24054,24032,000Sources/Uses$$GA$GA GA$$GA$$GA$$GAGA$202114,60019,20051,00084,800315,200400,00041,80021,60063,40024,00040,000272,600312,600400,000

Sources and Uses of Funds In case of Assets If the Assets increased by an amount it means we have…

Answered: Just Dew It Corporation reports the…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 103.4C

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Leverage Cook Corporation issued financial statements at December 31, 2019, that include the following information: Balance sheet at December 31,2019 Assets $8,000,000 Liabilities $1,200,000 Stockholders' equity (300,000 shares) $6,800,000 Income statement for 2019: Income from operations $1,200,000 Less: Interest expense (100,000) Income before taxes $1,100,000 Less: Income taxes expense (0,30) (330,000) Net income $ 770,000 The levels of assets, liabilities, stockholders' equity, and operating income have been stable in recent years; however, Cook Corporation is planning a 51,800,000 expansion program that will increase income from operations by $350,000 to $1,550,000, Cook is planning to sell 8.5% notes at par to finance the expansion. Required: What earnings per share does Cook report before the expansion?
Athenian Venues Inc. just reported the following selected portion of its financial statements for the end of 2020. Your assistant has already calculated the 2020 end-of-year net operating working capital (NOWC) from the full set of financial statements (not shown here), which is 13 million. The total net operating capital for 2019 was 50 million. What was the 2020 net investment in operating capital? Athenian Venues Inc.: Selected Balance Sheet Information as of December 31 (Millions of Dollars)
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The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATIONBalance SheetsDecember 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 146,750 $ 159,000 Accounts receivable 76,000 89,500 Inventory 90,000 75,500 Prepaid rent 3,000 1,500 Long-term assets: Land 455,000 455,000 Equipment 750,000 645,000 Accumulated depreciation (415,000 ) (258,000 ) Total assets $ 1,105,750 $ 1,167,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 94,000 $ 80,500 Interest payable 6,750 13,500 Income tax payable 7,000 4,500 Long-term liabilities: Notes payable 112,500 225,000 Stockholders' equity: Common stock…
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Jamison Corp.'s balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31, 2021 2020 AssetsCash $ 440,000 $ 200,000Short-term investments 600,000 —Accounts receivable (net) 1,020,000 1,020,000Inventory 1,380,000 1,200,000Long-term investments 400,000 600,000Plant assets 3,400,000 2,000,000Accumulated depreciation (900,000)…
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Meera Ltd.'s comparative statements of financial position are presented below. Meera Ltd.Comparative Statements of Financial PositionDecember 31 2020 2019 Land $ 20,000 $ 26,000 Buildings 70,000 70,000 Accumulated depreciation—buildings (15,000) (10,000) Accounts receivable 20,800 23,400 Cash 17,660 10,700 Total $113,460 $120,100 Share capital—ordinary $ 75,000 $ 72,000 Retained earnings 26,090 20,000 Accounts payable 12,370 28,100 Total $113,460 $120,100 Additional information: 1. Net income was $22,590. Dividends declared and paid were $16,500. 2. All other changes in non‐current account balances had a direct effect on cash flows, except the change in accumulated depreciation. 3. The land was sold for $5,000. Instructions: Prepare a statement of cash flows for 2020 using the indirect method.
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