Preparing standardized financial statements

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Reference no: EM131051525

Preparing Standardized Financial Statements

JUST DEW IT CORPORATION
Balance Sheets as of December 31, 2001 and 2002


2001

2002


2001

2002

Assets

Liabilities and Owners' Equity

Current assets



Current liabilities

 

Cash

$ 9,201

$ 9,682

Accounts payable

$ 71,802

$ 56,382

Accounts receivable

28,426

29,481

Notes payable

36,108

50,116

Inventory

54,318

63,682

Total

$107,910

$106,498

Total

$ 91,945

$102,845

Long-term debt

$ 50,000

$ 35,000

Fixed assets



Owners' equity



Net plant and equipment

$296,418

$327,154

Common stock and



Total assets

$388,363

$429,999

paid-in surplus

$ 75,000

$ 75,000

 

 

 

Retained earnings

155,453

213,501

 

 

 

Total

$230,543

$288,501

 

 

 

Total liabilities and owners' equity

$388,363

$429,999

Reference no: EM131051525

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