Question

Dansko Integrated Balance Sheet As of January 24, 2018 (amounts in thousands)
Cash	9,900	Accounts Payable	2,700
Accounts Receivable	4,500	Debt	3,500
Inventory	3,800	Other Liabilities	1,000
Property Plant & Equipment	16,800	Total Liabilities	7,200
Other Assets	1,600	Paid-In Capital	8,000
		Retained Earnings	21,400
		Total Equity	29,400
Total Assets	36,600	Total Liabilities & Equity	36,600

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 the question.

Jan 25. Pay $4,000 owed to a supplier
Jan 26. Issue $90,000 in stock
Jan 27. Buy $16,000 worth of manufacturing supplies on credit

What is the final amount in Total Equity?

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

Answer 1

Journal entries		(amounts in thousands)			T-Accounts (amounts in thousands)
Date	Account titles	Debit	Credit		Cash
Jan.25	Accounts payable	$4.00			To balance b/d	$9,900.00	By Accounts Payable	$4.00
	Cash		$4.00		To Paid in capital	$90.00
							By balance c/f	$9,986.00
Jan.26	Cash	$90.00			Total	$9,990.00	Total	$9,990.00
	Paid in capital		$90.00		Accounts Payble
					To Cash	$4.00	By balance b/d	$2,700.00
Jan.27	Inventory	$16.00					By Inventory	$16.00
	Accounts Payable		$16.00		To balance c/f	$2,712.00
					Total	$2,716.00	Total	$2,716.00
					Inventory
					To balance b/d	$3,800.00
					To Accounts Payable	$16.00	By balance c/f	$3,816.00
					Total	$3,816.00	Total	$3,816.00
					Paid in Capital
							By balance b/d	$8,000.00
					To balance c/f	$8,090.00	By Cash	$90.00
					Total	$8,090.00	Total	$8,090.00
					Dansko Integrated
					Balance Sheet
					As of January 27,2018
					(amounts in thousands)
					Cash	$9,986.00	Accounts Payable	$2,712.00
					Accounts Receivable	$4,500.00	Debt	$3,500.00
					Inventory	$3,816.00	Other Liabilities	$1,000.00
					Property Plant & Equipment	$16,800.00	Total Liabilities	$7,212.00
					Other Assets	$1,600.00	Paid in Capital	$8,090.00
							Retained Earnings	$21,400.00
							Total Equity	$29,490.00
					Total Assets	$36,702.00	Total Liabilities & Equity	$36,702.00
					The final amount in Total Equity	$29,490.00