Question

Airplane Mode MONOG *0 . 18% O 10:48 Post-Quiz Q: Use the starting balance sheet and statement of cash flows to answer the question. Ans so Siam Traders Balance Sheet As of December 31, 2018 (amounts in thousands) Cash 91,000 Accounts Payable Accounts Receivable 44,000 Debt Inventory 48,000 Other Liabilities Property Plant & 234,000 Total Liabilities Equipment, Gross Accumulated Depreciation 78,000 Paid-In Capital Property Plant & Equipment, Net 156,000 Retained Earnings Other Assets 26,000 Total Equity Total Assets 365,000 Total Liabilities & Equity 19,000 24,000 6,000 49,000 69,000 247,000 316,000 365,000 7,200 2,000 (100) 1,000 600 Siam Traders Statement of Cash Flows January 1 to March 31, 2019 (amounts in thousands) Net Income Depreciation Decrease Increase in Accounts Receivable Decrease Increase) in Inventory Increase (Decrease) in Accounts Payable Other Adjustments Net Cash Flow from Operating Activities Purchase of Property, Plant, & Equipment Other Adjustments Net Cash Flow from Investing Activities Increase (Decrease) in Debt Dividends Other Adjustments Net Cash Flow from Financing Activities Net Cash Flow 10,700 (8,300) (8,300) (700) (500) (1,200) 1,200 What is the value for Total Assets on March 31, 2019? Please specify your answer in the same units as the financial statements. Show navigation O 0 0

Answer 1

Solution: Calculating the Values as on March 31, 2019 (amount in thousands): Cash = 91,000 + 1,200 = 92,200 (increase in net cash flow) Accounts Receivable = 44,000 + 100 = 44,100 (increase in accounts receivable) Inventory = 48,000 - 1,000 = 47,000 (decrease in inventory) Property, Plant & Equipment Gross = 234,000 + 8,300 = 242,300 (increase due to purchase) Accumulated Depreciation = 78,000 + 2,000 = 80,000 (Depreciation for the period 2,000 is added) Other Assets = 26,000 (No change in other assets) Calculation of Value of Total Assets as on March 31, 2019 (amounts in thousands): Total Assets = Current Assets + Non-current Assets = 92,200 + 44,100 + 47,000 + 242,300 - 80,000 + 26,000 = 371,600