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 Use the starting balance sheet and statement of cash flows to answer the

use the starting balance sheet and statement of cash flows to answer
image text in transcribed
Use the starting balance sheet and statement of cash flows to answer the question. Ruston Company Balance Sheet As of December 31, 2018 (amounts in thousands) 90,000 Accounts Payable 12,000 Cash 36,000 34,000 Debt Accounts Receivable 51,000 Other Liabilities 21,000 Inventory Property Plant & Equipment, Gross 230,000 Total Liabilities 55,000 Paid-In Capital 69,000 59,000 Accumulated Depreciation 228,000 175,000 Retained Earnings Property Plant & Equipment, Net 287,000 6,000 Total Equity Other Assets 356,000 356,000 Total Liabilities & Equity Total Assets Ruston Company Statement of Cash Flows January 1 to March 31, 2019 (amounts in thousands) 5,800 Net Income 1,300 (600) Decrease (Increase) in Accounts Receivable Decrease (Increase) in Inventory 1,000 300 Increase (Decrease) in Accounts Payable Other Adjustments 7,800 Net Cash Flow from Operating Activities (8,300) Purchase of Property, Plant, & Equipment Other Adjustments Net Cash Flow from Investing Activities (8,300) Increase (Decrease) in Debt 700 Dividends (500) Other Adjustments 0 Net Cash Flow from Financing Activities 200 Net Cash Flow (300) What is the value for Total Assets on March 31, 20192 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

Auditing The Risk Management Process

Authors: K. H. Spencer Pickett

1st Edition

0471690538, 978-0471690535

More Books

Students also viewed these Accounting questions