Question

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

Valley Technology Balance Sheet As of December 31, 2019 (amounts in thousands)
Cash	2,200	Liabilities	3,600
Other Assets	2,800	Equity	1,400
Total Assets	5,000	Total Liabilities & Equity	5,000

Between January 1 and March 31, 2020:

1. Cash decreases by $200,000
2. Liabilities decrease by $100,000
3. Equity increases by $400,000

What is the value for Other Assets on March 31, 2020?

Please specify your answer in the same units as the balance sheet.

Answer 1

Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question. Valley Technology Balance Sheet As of December 31