Question
Torche Corporation Balance Sheet As of March 11, 2022 (amounts in thousands) Cash 14700 Accounts Payable 2400 Accounts Receivable 4800 Debt 3700 Inventory 3800 Other
Torche Corporation Balance Sheet As of March 11, 2022 (amounts in thousands)
Cash 14700 | Accounts Payable 2400 |
Accounts Receivable 4800 | Debt 3700 |
Inventory 3800 | Other Liabilities 5000 |
Property Plant & Equipment 15800 | Total Liabilities 11100 |
Other Assets 900 | Paid-In Capital 6000 |
Retained Earnings 22900 | |
Total Equity 28900 | |
Total Assets 40000 | Total Liabilities & Equity 40000 |
Use T-accounts to record the transactions below, which occur on March 12, 2022, close the T-accounts, and construct a balance sheet to answer the question.
1. Receive payment of $12,000 owed by a customer 2. Buy $15,000 worth of manufacturing supplies on credit 3. Purchase equipment for $44,000 in cash 4. Issue $80,000 in stock 5. Pay $4,000 owed to a supplier
What is the final amount in Total Liabilities & Equity?
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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