Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.

The starting balance of Accounts Receivable is $3,200
The starting balance of Cash is $14,100
The starting balance of Inventory is $4,900

1. Buy $17 worth of manufacturing supplies for cash
2. Sell product for $25 in cash with historical cost of $25
3. Receive payment of $12 owed by a customer

What is the final amount in Cash?

Siam Traders Balance Sheet As of March 11, 2019 (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

Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.

1. Purchase equipment for $43,000 in cash
2. Receive payment of $11,000 owed by a customer
3. Buy $14,000 worth of manufacturing supplies on credit
4. Issue $70,000 in stock
5. Pay $8,000 owed to a supplier

What is the final amount in Total Equity?

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

Stuart Company Balance Sheet As of March 11, 2019 (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

Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.

1. Consume good or service and pay expense of $2,000
2. Sell product for $40,000 in cash with historical cost of $32,000
3. Sell, deliver, and receive payment of $25,000 for service

What is the final amount in Total Liabilities & Equity?

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

Answer rating: 100% (QA)

Lets solve each of the scenarios step by step Scenario 1 Starting balances Cash 14100 Accounts Recei... View the full answer