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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
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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