Answer Happy

Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Torche Corporation Balance Sheet As of March 11, 2022 (amounts in thousands) 14,700 Accounts Payable 4,800 Debt 3,800 Other Liabilities 15,800 Total Liabilities 900 Paid-In Capital Retained Earnings Total Equity 40,000 Total Liabilities & Equity 2,400 3,700 5,000 11,100 6,000 22,900 28,900 40,000 Use T-accounts to record the transactions below, which occur on March 12, 2022, close the T-accounts, and construct a balance sheet to answer the question. 1. Receive payment of $12,000 owed by a customer 2. Buy $15,000 worth of manufacturing supplies on credit 3. Purchase equipment for $44,000 in cash 4. Issue $80,000 in stock 5. Pay $4,000 owed to a supplier What is the final amount in Total Liabilities & Equity? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet).