Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the starting balance sheet and statement of cash flows to answer the question. Siam Traders Balance Sheet As of December 31, 2017 (amounts in

Use the starting balance sheet and statement of cash flows to answer the question. Siam Traders Balance Sheet As of December 31, 2017 (amounts in thousands) Cash 91,000 Accounts Payable 19,000 Accounts Receivable 44,000 Debt 24,000 Inventory 48,000 Other Liabilities 6,000 Property Plant & Equipment, Gross 234,000 Total Liabilities 49,000 Accumulated Depreciation 78,000 Paid-In Capital 69,000 Property Plant & Equipment, Net 156,000 Retained Earnings 247,000 Other Assets 26,000 Total Equity 316,000 Total Assets 365,000 Total Liabilities & Equity 365,000 Siam Traders Statement of Cash Flows January 1 to March 31, 2018 (amounts in thousands) Net Income 7,200 Depreciation 2,000 Decrease (Increase) in Accounts Receivable (100) Decrease (Increase) in Inventory 1,000 Increase (Decrease) in Accounts Payable 600 Other Adjustments 0 Net Cash Flow from Operating Activities 10,700 Purchase of Property, Plant, & Equipment (8,300) Other Adjustments 0 Net Cash Flow from Investing Activities (8,300) Increase (Decrease) in Debt (700) Dividends (500) Other Adjustments 0 Net Cash Flow from Financing Activities (1,200) Net Cash Flow 1,200 What is the value for Total Assets on March 31, 2018? Please specify your answer in the same units as the financial statements.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Frank Woods Business Accounting Volume 2

Authors: Frank Wood, Alan Sangster

14th Edition

1292209178, 9781292209173

More Books

Students also viewed these Accounting questions

Question

What lifestyle traits does your key public have?

Answered: 1 week ago