Question
Siam Traders Balance Sheet As of March 11, 2021 (amounts in thousands) Cash 9,100 Accounts Payable 1,900 Accounts Receivable 4,400 Debt 2,400 Inventory 4,800 Other
Siam Traders Balance Sheet As of March 11, 2021 (amounts in thousands) | |||
---|---|---|---|
Cash | 9,100 | Accounts Payable | 1,900 |
Accounts Receivable | 4,400 | Debt | 2,400 |
Inventory | 4,800 | Other Liabilities | 600 |
Property Plant & Equipment | 15,600 | Total Liabilities | 4,900 |
Other Assets | 2,600 | Paid-In Capital | 6,900 |
Retained Earnings | 24,700 | ||
Total Equity | 31,600 | ||
Total Assets | 36,500 | Total Liabilities & Equity | 36,500 |
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. Sell product for $30,000 in cash with historical cost of $24,000 2. Sell, deliver, and receive payment of $40,000 for service 3. Consume good or service and pay expense of $2,000
What is the final amount in Total Assets?
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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