Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts,and construct a final balance sheet to answer the question.Journal amounts in thousandsDateJan 4Jan 5Jan 6Jan 7Jan 8Jan 9Jan 10Account and ExplanationProperty, Plant & EquipmentCashPaid cash for machineCashAccounts ReceivableReceived customer paymentCashInventoryRetained EarningsSold and delivered product to customerCashPaid-In CapitalIssued stockAccounts PayableCashPaid money owed to supplierCashDebtBorrowed money from bankInventoryAccounts PayableBought manufacturing supplies on creditDebit Credit431114708551743111137085517What is the final amount in Total Equity?Please specify your answer in the same units as the balance sheet (i.e, enter the number from your updatedbalance sheet). CashAccounts ReceivableInventory.Property Plant & Equipment -Other AssetsTotal AssetsSiam TradersBalance SheetAs of January 3, 2023(amounts in thousands)9,100 Accounts Payable4,400 Debt4,800 Other Liabilities15,600 Total Liabilities2,600 Paid-In CapitalRetained EarningsTotal Equity36,500 Total Liabilities & Equity1,9002,4006004,9006,90024,70031,60036,500Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts,and construct a final balance sheet to answer the question.Journal amounts in thousands

Ledger accounts are being used as initial step in accounting cycle process. On the basis of general…

Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Siam Traders Balance Sheet As of January 3, 2023 (amounts in thousands) 9,100 Accounts Payable 4,400 Debt 4,800 Other Liabilities 15,600 Total Liabilities 2,600 Paid-In Capital Retained Earnings Total Equity 36,500 Total Liabilities & Equity 1,900 2,400 600 4,900 6,900 24,700 31,600 36,500 Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts, and construct a final balance sheet to answer the question.

Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Siam Traders Balance Sheet As of January 3, 2023 (amounts in thousands) 9,100 Accounts Payable 4,400 Debt 4,800 Other Liabilities 15,600 Total Liabilities 2,600 Paid-In Capital Retained Earnings Total Equity 36,500 Total Liabilities & Equity 1,900 2,400 600 4,900 6,900 24,700 31,600 36,500 Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts, and construct a final balance sheet to answer the question.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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