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What is the final amount in total equity

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Reference no: EM132409688

Question

Siam Traders

Balance Sheet

As of March 11, 2019

(amounts in thousands)

Cash 9,100 Accounts Payable 1,900

Accounts Receivable 4,400 Debt 2,400

Inventory 4,800 Other Liabilities 600

Property Plant & Equipment 15,600 Total Liabilities 4,900

Other Assets 2,600 Paid-In Capital 6,900

Retained Earnings 24,700

Total Equity 31,600

Total Assets 36,500 Total Liabilities & Equity 36,500

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. Purchase equipment for $43,000 in cash

2. Receive payment of $11,000 owed by a customer

3. Buy $14,000 worth of manufacturing supplies on credit

What is the final amount in Total Equity?

Reference no: EM132409688

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