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Valley Technology Balance Sheet As of March 11, 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 March 11, 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 |
Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.
1. Sell product for $30,000 in cash with historical cost of $24,000 2. Sell, deliver, and receive payment of $40,000 for service 3. Consume good or service and pay expense of $2,000
What is the final amount in Total Liabilities & Equity?
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