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Nippon Technology Balance Sheet As of March 11, 2018 (amounts in thousands) Cash 13,700 Accounts Payable...

Nippon Technology
Balance Sheet
As of March 11, 2018
(amounts in thousands)
Cash 13,700 Accounts Payable 2,000
Accounts Receivable 3,200 Debt 3,600
Inventory 5,100 Other Liabilities 900
Property Plant & Equipment 15,400 Total Liabilities 6,500
Other Assets 800 Paid-In Capital 7,200
Retained Earnings 24,500
Total Equity 31,700
Total Assets 38,200 Total Liabilities & Equity 38,200

Use T-accounts to record the transactions below, which occur on March 12, 2018, close the T-accounts, and construct a balance sheet to answer the question.

1. Receive payment of $12,000 owed by a customer
2. Purchase equipment for $45,000 in cash
3. Issue $85,000 in stock
4. Borrow $67,000 from a bank
5. Buy $17,000 worth of manufacturing supplies on credit

What is the final amount in Total Liabilities & Equity?

Please specify your answer in the same units as the balance sheet.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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