Select Page

Siam TradersBalance SheetAs of March 11, 2018Cash 9,100,000 Accounts Payable 1,900,000 Accounts Receivable 4,400,000 Debt 2,400,000 Inventory 4,800,000 Other Liabilities 600,000 Property Plant & Equipment 15,600,000 Total Liabilities 4,900,000 Other Assets 2,600,000 Paid-In Capital 6,900,000Retained Earnings 24,700,000Total Equity 31,600,000 Total Assets 36,500,000 Total Liabilities & Equity 36,500,000Use T-accounts to record the transactions below, which occur on March 12, 2018, close the T-accounts, and construct a balance sheet to answer the question.1. Purchase equipment for $43,000 in cash2. Receive payment of $11,000 owed by a customer3. Buy $14,000 worth of manufacturing supplies on credit4. Issue $70,000 in stock5. Pay $8,000 owed to a supplierWhat is the final amount in Total Equity?