Question

If Total Assets are $3,500 and Total Liabilities is $2,500 then what is the value of Total Equity?

Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question.

Ruston Company Balance Sheet As of December 31, 2019 (amounts in thousands)
Cash	2,100	Liabilities	2,500
Other Assets	3,100	Equity	2,700
Total Assets	5,200	Total Liabilities & Equity	5,200

Between January 1 and March 31, 2020:

1. Other Assets decrease by $200,000
2. Liabilities increase by $300,000
3. Equity increases by $400,000

What is the value for Cash on March 31, 2020?

Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.

1. Buy $15,000 worth of manufacturing supplies on credit
2. Purchase equipment for $48,000 in cash
3. Receive payment of $13,000 owed by a customer
4. Issue $70,000 in stock
5. Borrow $65,000 from a bank
6. Pay $5,000 owed to a supplier
7. Purchase equipment for $42,000 in cash

What is the net change in Total Liabilities?

PLEASE HELP :)

Answer 1

Q1.
Total assets		3500
Less: Total liabilities		2500
Total equity		1000
Q2.
Total Equity at the end (2700+400)	3100
Total Liabilities at the end(2500+300)	2800
Sub total				5900
Less: Other assets at end (3100-200)	2900
Cash balance at the end		3000
Cash balance is $ 3000,000
Q3.
Analysis
Event	Assets =	Liabilities+	Equity
a.	15000	15000	0
b.	0	0	0
c.	0	0	0
d.	70000	0	70000
e.	65000	65000	0
f.	-5000	-5000	0
g.	0	0	0
Net effect	145000	75000	70000
Net Change in Total liabilities:	Increase by $ 75000