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Valley Technology Balance Sheet As of January 24, 2019 (amounts in thousands) Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other
Valley Technology | |||||||
Balance Sheet | |||||||
As of January 24, 2019 | |||||||
(amounts in thousands) | |||||||
Cash | 9,700 | Accounts Payable | 1,500 | ||||
Accounts Receivable | 4,500 | Debt | 2,900 | ||||
Inventory | 3,800 | Other Liabilities | 800 | ||||
Property Plant & Equipment | 16,400 | Total Liabilities | 5,200 | ||||
Other Assets | 1,700 | Paid-In Capital | 7,300 | ||||
Retained Earnings | 23,600 | ||||||
Total Equity | 30,900 | ||||||
Total Assets | 36,100 | Total Liabilities & Equity | 36,100 | ||||
Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question. | |||||||
Jan 25. Buy $15,000 worth of manufacturing supplies on credit | |||||||
Jan 26. Issue $85,000 in stock | |||||||
Jan 27. Borrow $63,000 from a bank | |||||||
Jan 28. Pay $5,000 owed to a supplier | |||||||
Jan 29. Receive payment of $12,000 owed by a customer | |||||||
What is the final amount in Total Liabilities? | |||||||
Please specify your answer in the same units as the balance sheet. |
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