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Dansko Integrated Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 99,000 Accounts Payable...

Dansko Integrated
Balance Sheet
As of December 31, 2019
(amounts in thousands)
Cash 99,000 Accounts Payable 27,000
Accounts Receivable 45,000 Debt 35,000
Inventory 38,000 Other Liabilities 10,000
Property Plant & Equipment, Gross 235,000 Total Liabilities 72,000
Accumulated Depreciation 67,000 Paid-In Capital 80,000
Property Plant & Equipment, Net 168,000 Retained Earnings 214,000
Other Assets 16,000 Total Equity 294,000
Total Assets 366,000 Total Liabilities & Equity 366,000
Dansko Integrated
Statement of Cash Flows
January 1 to March 31, 2020
(amounts in thousands)
Net Income 9,500
Depreciation 1,800
Decrease (Increase) in Accounts Receivable 400
Decrease (Increase) in Inventory (800)
Increase (Decrease) in Accounts Payable 900
Other Adjustments 0
Net Cash Flow from Operating Activities 11,800
Purchase of Property, Plant, & Equipment (6,700)
Other Adjustments 0
Net Cash Flow from Investing Activities (6,700)
Increase (Decrease) in Debt (200)
Dividends (800)
Other Adjustments 0
Net Cash Flow from Financing Activities (1,000)
Net Cash Flow 4,100

What is the value for Total Liabilities & Equity on March 31, 2020?

Please specify your answer in the same units as the financial statements (i.e., enter the number from your updated balance sheet).

Solutions

Expert Solution

Step 1 : Total Liabilities on March 31, 2020

Liabilities $
Accounts Payable 27900
Debt 34800
Other Liabilities 10000
Total Liabilities 72700

Workings:

1. Accounts Payable = Beginning accounts payable balance + Increase in accounts payable during the year

    Accounts Payable = $27000 + $900 = $27900

2. Debt = Beginning Debt balance - Decrease in debt during the year

    Debt = $35000 - $200 = $34800

Step 2 : Equity on March 31, 2020

Particulars $
Paid-in-capital 80000
Retained Earnings 222700
Total Equity 302700

Workings

Retained earnings = Beginning retained earnings balance + Net Income - Dividend

Retained earnings = $214000 + 9500 - $800 = $222700

Step 3 : Total Liabilities and Equity

Total Liabilities = $72700

Equity = $302700

Total Liabilities and Equity = $72700 + $302700 = $375400

Step 4: Updated Balance sheet

Dansko Integrated Balance sheet as of December 31, 2020

Particulars $
Accounts Payable 27900
Debt 34800
Other Liabilities 10000
Total Liabilities (a) 72700
Paid-in-capital 80000
Retained Earnings 222700
Total Equity (b) 302700
Total Liabilities & Equity (c) 375400

All the best...

ekkarill92 answered 2 years ago
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