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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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