Question
In: Accounting
Lightspeed Industries Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 14,100 Accounts Payable...
| Lightspeed Industries Balance Sheet As of January 24, 2020 (amounts in thousands) |
|||
|---|---|---|---|
| Cash | 14,100 | Accounts Payable | 1,900 |
| Accounts Receivable | 3,200 | Debt | 3,600 |
| Inventory | 4,900 | Other Liabilities | 2,000 |
| Property Plant & Equipment | 16,300 | Total Liabilities | 7,500 |
| Other Assets | 500 | Paid-In Capital | 7,200 |
| Retained Earnings | 24,300 | ||
| Total Equity | 31,500 | ||
| Total Assets | 39,000 | Total Liabilities & Equity | 39,000 |
Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question.
Jan 25. Sell, deliver, and receive payment of $20,000 for
service
Jan 26. Consume good or service and pay expense of $3,000
Jan 27. Sell product for $25,000 in cash with historical cost of
$20,000
What is the final amount in Total Assets?
Please specify your answer in the same units as the balance sheet.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Lightspeed Industries Balance Sheet As of January 3, 2019 (amounts in thousands) Cash 14,100 Accounts Payable...
Lightspeed Industries
Balance Sheet
As of January 3, 2019
(amounts in thousands)
Cash
14,100
Accounts Payable
1,900
Accounts Receivable
3,200
Debt
3,600
Inventory
4,900
Other Liabilities
2,000
Property Plant & Equipment
16,300
Total Liabilities
7,500
Other Assets
500
Paid-In Capital
7,200
Retained Earnings
24,300
Total Equity
31,500
Total Assets
39,000
Total Liabilities & Equity
39,000
Transfer the journal entries to T-accounts for the transactions
below, compute closing amounts for the T-accounts, and construct a
final balance sheet to answer the...
Lightspeed Industries Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 106,000 Accounts Payable...
Lightspeed Industries
Balance Sheet
As of December 31, 2019
(amounts in thousands)
Cash
106,000
Accounts Payable
26,000
Accounts Receivable
32,000
Debt
30,000
Inventory
41,000
Other Liabilities
7,000
Property Plant & Equipment, Gross
212,000
Total Liabilities
63,000
Accumulated Depreciation
72,000
Paid-In Capital
80,000
Property Plant & Equipment, Net
140,000
Retained Earnings
246,000
Other Assets
70,000
Total Equity
326,000
Total Assets
389,000
Total Liabilities & Equity
389,000
Lightspeed Industries
Statement of Cash Flows
January 1 to March 31, 2020
(amounts in thousands)...
Stuart Company Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 8,400 Accounts Payable...
Stuart Company
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
8,400
Accounts Payable
2,800
Accounts Receivable
4,700
Debt
3,400
Inventory
4,200
Other Liabilities
900
Property Plant & Equipment
17,200
Total Liabilities
7,100
Other Assets
2,800
Paid-In Capital
6,700
Retained Earnings
23,500
Total Equity
30,200
Total Assets
37,300
Total Liabilities & Equity
37,300
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
Valley Technology Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 9,700 Accounts Payable...
Valley Technology
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
9,700
Accounts Payable
1,500
Accounts Receivable
4,500
Debt
2,900
Inventory
3,800
Other Liabilities
800
Property Plant & Equipment
16,400
Total Liabilities
5,200
Other Assets
1,700
Paid-In Capital
7,300
Retained Earnings
23,600
Total Equity
30,900
Total Assets
36,100
Total Liabilities & Equity
36,100
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
Stuart Company Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 8,400 Accounts Payable...
Stuart Company
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
8,400
Accounts Payable
2,800
Accounts Receivable
4,700
Debt
3,400
Inventory
4,200
Other Liabilities
900
Property Plant & Equipment
17,200
Total Liabilities
7,100
Other Assets
2,800
Paid-In Capital
6,700
Retained Earnings
23,500
Total Equity
30,200
Total Assets
37,300
Total Liabilities & Equity
37,300
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
Siam Traders Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 9,100 Accounts Payable...
Siam Traders
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
9,100
Accounts Payable
1,900
Accounts Receivable
4,400
Debt
2,400
Inventory
4,800
Other Liabilities
600
Property Plant & Equipment
15,600
Total Liabilities
4,900
Other Assets
2,600
Paid-In Capital
6,900
Retained Earnings
24,700
Total Equity
31,600
Total Assets
36,500
Total Liabilities & Equity
36,500
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
Hopewell Corporation Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 12,500 Accounts Payable...
Hopewell Corporation
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
12,500
Accounts Payable
2,400
Accounts Receivable
3,600
Debt
3,700
Inventory
5,200
Other Liabilities
3,000
Property Plant & Equipment
16,700
Total Liabilities
9,100
Other Assets
600
Paid-In Capital
5,600
Retained Earnings
23,900
Total Equity
29,500
Total Assets
38,600
Total Liabilities & Equity
38,600
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
Hopewell Corporation Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 12,500 Accounts Payable...
Hopewell Corporation
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
12,500
Accounts Payable
2,400
Accounts Receivable
3,600
Debt
3,700
Inventory
5,200
Other Liabilities
3,000
Property Plant & Equipment
16,700
Total Liabilities
9,100
Other Assets
600
Paid-In Capital
5,600
Retained Earnings
23,900
Total Equity
29,500
Total Assets
38,600
Total Liabilities & Equity
38,600
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
Siam Traders Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 9,100 Accounts Payable...
Siam Traders
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
9,100
Accounts Payable
1,900
Accounts Receivable
4,400
Debt
2,400
Inventory
4,800
Other Liabilities
600
Property Plant & Equipment
15,600
Total Liabilities
4,900
Other Assets
2,600
Paid-In Capital
6,900
Retained Earnings
24,700
Total Equity
31,600
Total Assets
36,500
Total Liabilities & Equity
36,500
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
Stuart Company Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 8,400 Accounts Payable...
Stuart Company
Balance Sheet
As of January 24, 2020
(amounts in thousands)
Cash
8,400
Accounts Payable
2,800
Accounts Receivable
4,700
Debt
3,400
Inventory
4,200
Other Liabilities
900
Property Plant & Equipment
17,200
Total Liabilities
7,100
Other Assets
2,800
Paid-In Capital
6,700
Retained Earnings
23,500
Total Equity
30,200
Total Assets
37,300
Total Liabilities & Equity
37,300
Record the transactions in a journal, transfer the journal
entries to T-accounts, compute closing amounts for the T-accounts,
and construct a balance sheet to answer...
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