Ruston
Company Balance Sheet As of January 24, 2018 (amounts in thousands) |
|||
---|---|---|---|
Cash | 9,000 | Accounts Payable | 1,200 |
Accounts Receivable | 3,400 | Debt | 3,600 |
Inventory | 5,100 | Other Liabilities | 2,100 |
Property Plant & Equipment | 17,500 | Total Liabilities | 6,900 |
Other Assets | 600 | Paid-In Capital | 5,900 |
Retained Earnings | 22,800 | ||
Total Equity | 28,700 | ||
Total Assets | 35,600 | Total Liabilities & Equity | 35,600 |
Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question.
Jan 25. Sell product for $30,000 in cash with historical cost of
$24,000
Jan 26. Sell, deliver, and receive payment of $25,000 for
service
Jan 27. Consume good or service and pay expense of $1,000
What is the final amount in Total Assets?
Please specify your answer in the same units as the balance sheet.
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