Answer:
What is the final amount in Total Equity?
Explanation:
January's balance:
Paid-In Capital 8,000
Retained Earnings 21,400
Total Equity 29,400
Jan 25. Pay $4,000 owed to a supplier
Dr Accounts payable 4,000
Cr Cash 4,000
Jan 26. Issue $90,000 in stock
Dr Cash 90,000
Cr Paid in capital 90,000
Jan 27. Buy $16,000 worth of manufacturing supplies on credit
Dr Inventory 16,000
Cr Accounts payable 16,000
Jan 28. Purchase equipment for $49,000 in cash
Dr Equipment 49,000
Cr Cash 49,000
Jan 29. Borrow $65,000 from a bank
Dr Cash 65,000
Cr Debt 65,000
Dansko Integrated
Balance Sheet
For the Month Ended January 31, 202x
Assets:
Cash $111,900
Accounts Receivable $4,500
Inventory $19,800
Property Plant & Equipment $65,800
Other Assets $1,600
Total Assets $203,600
Liabilities and equity:
Liabilities:
Accounts Payable $14,700
Debt $68,500
Other Liabilities $1,000
Total Liabilities $84,200
Equity:
Paid-In Capital $98,000
Retained Earnings $21,400
Total Equity $119,400
Total Liabilities & Equity $203,600
