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Calculate the final amount in total liabilities

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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 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?

Reference no: EM132344918

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