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Question - 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. Pay $4,000 owed to a supplier
2. Issue $90,000 in stock
3. Buy $16,000 worth of manufacturing supplies on credit
4. Purchase equipment for $49,000 in cash
5. Borrow $65,000 from a bank.
Dansko Integrated Balance Sheet As of March 11, 2019 (amounts in thousands)
Cash
9,900
Accounts Payable
2,700
Accounts Receivable
4,500
Debt
3,500
Inventory
3,800
Other Liabilities
1,000
Property Plant & Equipment
16,800
Total Liabilities
7,200
Other Assets
1,600
Paid-in Capital
8,000
Retained Earnings
21,400
Total Equity
29,400
Total Assets
36,600
Total Liabilities & Equity
Required - What is the final amount in Total Equity? Please specify your answer in the same units as the balance sheet.
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