Record the transactions in a journal, transfer the journal entries to T-accounts, compute dosing amounts for...
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Record the transactions in a journal, transfer the journal entries to T-accounts, compute dosing amounts for the T- accounts, and construct a balance sheet to answer the question. Dansko Integrated Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 9,900 Accounts Payable 2,700 Accounts Receivable 4,500 Debt 3,500 1,000 Inventory Property Plant & Equipment 3,800 Other Liabilities 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 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? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. Record the transactions in a journal, transfer the journal entries to T-accounts, compute dosing amounts for the T- accounts, and construct a balance sheet to answer the question. Dansko Integrated Balance Sheet As of January 24, 2020 (amounts in thousands) Cash 9,900 Accounts Payable 2,700 Accounts Receivable 4,500 Debt 3,500 1,000 Inventory Property Plant & Equipment 3,800 Other Liabilities 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 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? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars.
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Journal Entries Amounts in Thousands Date Account Title and Explanation Debit C... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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