In: Accounting
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
Jan 28. Purchase equipment for $49,000 in cash
Jan 29. Borrow $65,000 from a bank
What is the final amount in Total Equity?
Please specify your answer in the same units as the balance sheet.
Date | Account Description | Debit | Credit |
25-Jan | Accounts Payable | 4 | |
Cash | 4 | ||
26-Jan | Cash | 90 | |
Common Stock | 90 | ||
27-Jan | Supplies | 16 | |
Accounts Payable | 16 | ||
28-Jan | Equipment | 49 | |
cash | 49 | ||
29-Jan | Cash | 65 | |
Loan | 65 |
Accounts Payable | |||
Debit | Credit | ||
Beg. Bal. | 2,700 | ||
Cash | 4 | ||
16 | Supplies | ||
Ending Balance | 2,712 |
Common Stock | |||
Debit | Credit | ||
Beg. Bal. | - | ||
90 | Common Stock | ||
Ending Balance | 90 |
Supplies | |||
Debit | Credit | ||
Beg. Bal. | - | ||
Accounts Payable | 16 | ||
Ending Balance | 16 |
Cash | |||
Debit | Credit | ||
Beg. Bal. | 9,900 | ||
Common Stock | 90 | 4 | Accounts Payable |
49 | Equipment | ||
Loan | 65 | ||
Ending Balance | 10,002 |
Property , Plant & Equipment | |||
Debit | Credit | ||
Beg. Bal. | 16,800 | ||
Cash | 49 | ||
Ending Balance | 16,849 |
Loan | |||
Debit | Credit | ||
Beg. Bal. | - | ||
65 | Cash | ||
Ending Balance | 65 |
Balance sheet | |||
Cash | 10,002 | Accounts Payable | 2,712 |
Accounts Receivable | 4,500 | Debt | 3,565 |
Inventory | 3,800 | Other Liabilities | 1,000 |
Property Plant & Equipment | 16,849 | Total Liabilities | 7,277 |
Supplies | 16 | Common Stock | 90 |
Other Assets | 1,600 | Paid-In Capital | 8,000 |
Retained Earnings | 21,400 | ||
Total Equity | 29,490 | ||
Total Assets | 36,767 | Total Liabilities & Equity | 36,767 |
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