Question
Hopewell Corporation Balance Sheet As of January 24, 2019 (amounts in thousands) Cash 12,500 Accounts Payable 2,400 Accounts Receivable 3,600 Debt 3,700 Inventory 5,200 Other
Hopewell Corporation
Balance Sheet
As of January 24, 2019
(amounts in thousands)
Cash 12,500
Accounts Payable 2,400
Accounts Receivable 3,600
Debt 3,700
Inventory 5,200
Other Liabilities 3,000
Property Plant & Equipment 16,700
Total Liabilities 9,100
Other Assets 600 Paid-In Capital 5,600
Retained Earnings 23,900
Total Equity 29,500
Total Assets 38,600
Total Liabilities & Equity 38,600
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. Consume good or service and pay expense of $3,000
Jan 26. Sell product for $20,000 in cash with historical cost of $16,000
Jan 27. Sell, deliver, and receive payment of $35,000 for service
What is the final amount in Total Assets?
Please specify your answer in the same units as the balance sheet.
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Law, Business And Society
Authors: Tony McAdams, Kiren Dosanjh Zucker, Kristofer Neslund, Kari Smoker
12th Edition
1259721884, 978-1259721885
