Question
Hopewell Corporation Balance Sheet As of March 11, 2021 (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 March 11, 2021 (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 |
Use T-accounts to record the transactions below, which occur on March 12, 2021, close the T-accounts, and construct a balance sheet to answer the question.
1. Buy $15,000 worth of manufacturing supplies on credit 2. Purchase equipment for $48,000 in cash 3. Receive payment of $13,000 owed by a customer 4. Issue $70,000 in stock 5. Borrow $65,000 from a bank
What is the final amount in Total Liabilities?
Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars.
Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet).
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