Ruston Company Balance Sheet As of January 3, 2022 (amounts in thousands) Cash 9,000 Accounts Payable 1,200
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Question:
Ruston Company Balance Sheet As of January 3, 2022 (amounts in thousands) | |||
---|---|---|---|
Cash | 9,000 | Accounts Payable | 1,200 |
Accounts Receivable | 3,400 | Debt | 3,600 |
Inventory | 5,100 | Other Liabilities | 2,100 |
Property Plant & Equipment | 17,500 | Total Liabilities | 6,900 |
Other Assets | 600 | Paid-In Capital | 5,900 |
Retained Earnings | 22,800 | ||
Total Equity | 28,700 | ||
Total Assets | 35,600 | Total Liabilities & Equity | 35,600 |
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 | 55 | |
Debt | 55 | ||
Borrowed money from bank | |||
Jan 5 | Inventory | 14 | |
Accounts Payable | 14 | ||
Bought manufacturing supplies on credit | |||
Jan 6 | Accounts Payable | 7 | |
Cash | 7 | ||
Paid money owed to supplier | |||
Jan 7 | Cash | 12 | |
Inventory | 10 | ||
Retained Earnings | 2 | ||
Sold and delivered product to customer | |||
Jan 8 | Cash | 75 | |
Paid-In Capital | 75 | ||
Issued stock | |||
Jan 9 | Property, Plant & Equipment | 44 | |
Cash | 44 | ||
Paid cash for machine | |||
Jan 10 | Cash | 13 | |
Accounts Receivable | 13 | ||
Received customer payment |
What is the final amount in Total Assets?
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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