Gulf Shipping Company Balance Sheet As of January 24, 2019 (amounts in thousands) ...
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Accounting
Gulf Shipping Company Balance Sheet As of January 24, 2019 (amounts in thousands)
Cash
14,300
Accounts Payable
1,900
Accounts Receivable
4,100
Debt
3,200
Inventory
5,800
Other Liabilities
4,000
Property Plant & Equipment
14,800
Total Liabilities
9,100
Other Assets
700
Paid-In Capital
7,700
Retained Earnings
22,900
Total Equity
30,600
Total Assets
39,700
Total Liabilities & Equity
39,700
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, deliver, and receive payment of $25,000 for service Jan 26. Consume good or service and pay expense of $1,000 Jan 27. Sell product for $30,000 in cash with historical cost of $24,000
What is the final amount in Total Liabilities & Equity?
Please specify your answer in the same units as the balance sheet.
Answer & Explanation
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