Question

Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question. Siam Traders Balance Sheet As of December 31, 2017 (amounts in thousands) Cash 3,800 Liabilities 2,100 Other Assets 2,500 Equity 4,200 Total Assets 6,300 Total Liabilities & Equity 6,300 Between January 1 and March 31, 2018: 1. Cash decreases by $200,000 2. Other Assets increase by $300,000 3. Equity increases by $100,000 What is the value for Liabilities on March 31, 2018? Please specify your answer in the same units as the balance sheet.

Answer 1

Value of Equity on march 31 2018 = $2100

Calculations

	Balance (Dec 31 2017)	Changes	Balances (march 31 2018)
Cash	$ 3,800.00	$ (200.00)	$ 3,600.00
Other assets	$ 2,500.00	$ 300.00	$ 2,800.00
Total assets	$ 6,300.00		$ 6,400.00
Liabilities (balancing figure)	$ 2,100.00		$ 2,100.00
Equity	$ 4,200.00	$   100.00	$ 4,300.00
Total Liabilities and equity	$ 6,300.00		$ 6,400.00

The balance of liability does not change and remains $2100 as of March 2018.