Question
Use the starting balance sheet, income statement, and the list of changes to answer the question. Valley Technology Balance Sheet As of December 31, 2017
Use the starting balance sheet, income statement, and the list of changes to answer the question. Valley Technology Balance Sheet As of December 31, 2017 (amounts in thousands) Cash 22,000 Liabilities 36,000 Other Assets 28,000 Equity 14,000 Total Assets 50,000 Total Liabilities & Equity 50,000 Valley Technology Income Statement January 1 to March 31, 2018 (amounts in thousands) Revenue 7,200 Expenses 3,600 Net Income 3,600 Between January 1 and March 31, 2018: 1. Cash decreases by $200,000 2. Liabilities decrease by $100,000 3. Paid-In Capital does not change 4. Dividends paid of $400,000 What is the value for Other Assets on March 31, 2018? Please specify your answer in the same units as the financial statements. Answer Save your answer Show navigation tips
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started