Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE ANSWER CAREFULLY AT THE VERY BOTTOM. PUT THE ANSWER AT THE VERY BOTTOM WITH BIG BOLD NUMBERS. PLEASE READ THE INSTRUCTIONS. PLEASE ANSWER IN

PLEASE ANSWER CAREFULLY AT THE VERY BOTTOM. PUT THE ANSWER AT THE VERY BOTTOM WITH BIG BOLD NUMBERS.

PLEASE READ THE INSTRUCTIONS.

PLEASE ANSWER IN THOUSANDTHS !! VERY CONFUSING IF NOT FIGURED CORRECTLY.

image text in transcribed

Use the starting balance sheet, income statement, and the list of changes to answer the question. Ruston Company Balance Sheet As of December 31, 2018 (amounts in thousands) 21,000 Liabilities 31,000 Equity 52,000 Total Liabilities & Equity Cash Other Assets Total Assets 25,000 27,000 52,000 Ruston Company Income Statement January 1 to March 31, 2019 (amounts in thousands) Revenue Expenses Net Income 3,100 4,400 -1,300 Between January 1 and March 31, 2019: 1. Other Assets decrease by $200,000 2. Liabilities increase by $300,000 3. Paid-In Capital does not change 4. Dividends paid of $100,000 What is the value for Cash on March 31, 2019? Please specify your answer in the same units as the financial statements

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

11th Edition

0072834943, 9780072834949

More Books

Students also viewed these Accounting questions