Question

Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Dansko Integrated Balance Sheet As of March 11, 2020 (amounts in thousands) 9,900 Accounts Payable 4,500 Debt 3,800 Other Liabilities 16,800 Total Liabilities 1,600 Paid-In Capital Retained Earnings Total Equity 36,600 Total Liabilities & Equity 2,700 3,500 1,000 7,200 8,000 21,400 29,400 36,600 Total Assets Use T-accounts to record the transactions below, which occur on March 12, 2020, 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 What is the final amount in Total Equity? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet).

Answer 1

* Note: All transactions are converted from dollars and recorded in T accounts in Thousands.

CASH
To Opening balance	9,900	By Accounts payable ( paid to supplier)	4
To Loan from Bank	65	By Property, Plant & Equipment	49
To Paid in capital( issue in stock)	90	By Balance	10,002
Total	10,055	Total	10,055
To Balance	10,002

ACCOUNTS PAYABLE
To Cash	4	By Opening balance	2,700
To Balanace	2,712	By Inventory( purchase )	16
Total	2,716	Total	2,716
		By Balance	2,712

PROPERTY, PLANT & EQUIPMENT
To Opening balance	16,800	By Balance	16,849
To Cash ( purchase)	49
Total	16,849	Total	16,849
To Balance	16,849

LOAN FROM BANK
To Balanace	65	By Opening balance	0
		By Cash	65
Total	65	Total	65
		By Balance	65

PAID IN CAPITAL
To Balanace	8,090	By Opening balance	8,000
		By Cash	90
Total	8,090	Total	8,090
		By Balance	8,090

INVENTORY
To Opening balance	3,800	By Balance	3,816
To Accounts payable(credit purchase)	16
Total	3,816	Total	3,816
To Balance	3,816

Dansko Integrated
Balance Sheet
As of March 12, 2020
( amounts in thousands)
Cash	10,002	Accounts Payable	2,712
Accounts Receivable	4,500	Debt	3,500
Inventory	3,816	Loan from Bank	65
Property, Plant & Equipment	16,849	Other Liabilities	1,000
Other Assets	1,600	Total Liabilities	7,277
		Paid in Capital	8,090
		Retained Earnings	21,400
		Total Equity	29,490
Total Assets	36,767	Total Liabilities & Equity	36,767

Total Equity = $29,490