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Siam Traders Balance Sheet As of March 11, 2018 Cash 9,100,000 Accounts Payable 1,900,000 Accounts Receivable 4,400,000 Debt 2,400,000 Inventory

Siam Traders

Balance Sheet

As of March 11, 2018


Cash 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 6,900,000

Retained Earnings 24,700,000

Total Equity 31,600,000 Total Assets 36,500,000 Total Liabilities & Equity 36,500,000




Use 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 cash

2. Receive payment of $11,000 owed by a customer

3. Buy $14,000 worth of manufacturing supplies on credit

4. Issue $70,000 in stock

5. Pay $8,000 owed to a supplier


What is the final amount in Total Equity?

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Equity: Shareholder's equity is also termed as owner's equity. It is a part of the balance sheet other than assets and... View the full answer

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