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Nippon Technology Balance Sheet As of January 3, 2020 (amounts in thousands) Cash 13,700 Accounts Payable 2,000 Accounts Receivable 3,200 Debt 3,600 Inventory 5,100 Other
Nippon Technology Balance Sheet As of January 3, 2020 (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 |
Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts, and construct a final balance sheet to answer the question.
Journal amounts in thousands
Date | Account and Explanation | Debit | Credit |
---|---|---|---|
Jan 4 | Cash | 12 | |
Inventory | 10 | ||
Retained Earnings | 2 | ||
Sold and delivered product to customer | |||
Jan 5 | Property, Plant & Equipment | 45 | |
Cash | 45 | ||
Paid cash for machine | |||
Jan 6 | Cash | 85 | |
Paid-In Capital | 85 | ||
Issued stock | |||
Jan 7 | Cash | 67 | |
Debt | 67 | ||
Borrowed money from bank | |||
Jan 8 | Inventory | 17 | |
Accounts Payable | 17 | ||
Bought manufacturing supplies on credit | |||
Jan 9 | Accounts Payable | 7 | |
Cash | 7 | ||
Paid money owed to supplier | |||
Jan 10 | Cash | 11 | |
Accounts Receivable | 11 | ||
Received customer payment |
What is the final amount in Total Liabilities & Equity?
Please specify your answer in the same units as the balance sheet.
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