Just dew it corporation reports the following balance sheet information for 2017 and 2018. just dew it corporation 2017 and 2018 balance sheets assets liabilities and owners’ equity 2017 2018 2017 2018 current assets current liabilities cash $ 6,560 $ 8,600 accounts payable $ 51,840 $ 53,000 accounts receivable 16,160 22,600 notes payable 21,600 23,600 inventory 61,280 74,600 total $ 84,000 $ 105,800 total $ 73,440 $ 76,600 long-term debt $ 32,000 $ 30,000 owners’ equity common stock and paid-in surplus $ 40,000 $ 40,000 retained earnings 174,560 253,400 net plant and equipment $ 236,000 $ 294,200 total $ 214,560 $ 293,400 total assets $ 320,000 $ 400,000 total liabilities and owners’ equity $ 320,000 $ 400,000 prepare the 2018 common-base year balance sheet for just dew it. (do not round intermediate calculations and round your answers to 4 decimal places, e. g., 32.1616.)

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.