Question
Stuart Company Balance Sheet As of March 11, 2018 (amounts in thousands) Cash 8,400 Accounts Payable 2,800 Accounts Receivable 4,700 Debt 3,400 Inventory 4,200 Other
Stuart Company Balance Sheet As of March 11, 2018 (amounts in thousands) Cash 8,400 Accounts Payable 2,800 Accounts Receivable 4,700 Debt 3,400 Inventory 4,200 Other Liabilities 900 Property Plant & Equipment 17,200 Total Liabilities 7,100 Other Assets 2,800 Paid-In Capital 6,700 Retained Earnings 23,500 Total Equity 30,200 Total Assets 37,300 Total Liabilities & Equity 37,300 Use T-accounts to record the transactions below, which occur on March 12, 2018, close the T-accounts, and construct a balance sheet to answer the question. 1. Consume good or service and pay expense of $2,000 2. Sell product for $40,000 in cash with historical cost of $32,000 3. Sell, deliver, and receive payment of $25,000 for service 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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