Nippon Technology Balance Sheet As of January 24, 2019 (amounts in thousands) Cash 13,700 Accounts Payable 2,000
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Question:
Nippon Technology Balance Sheet As of January 24, 2019 (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 |
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 $2,000
Jan 27. Sell product for $25,000 in cash with historical cost of $20,000
What is the final amount in Total Assets?
Related Book For
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
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