Use the starting balance sheet and statement of cash flows to answer the question. ...

50.1K

Verified Solution

Question

Accounting

Use the starting balance sheet and statement of cash flows to answer the question.

Ruston Company Balance Sheet As of December 31, 2021 (amounts in thousands)
Cash 90,000 Accounts Payable 12,000
Accounts Receivable 34,000 Debt 36,000
Inventory 51,000 Other Liabilities 21,000
Property Plant & Equipment, Gross 230,000 Total Liabilities 69,000
Accumulated Depreciation 55,000 Paid-In Capital 59,000
Property Plant & Equipment, Net 175,000 Retained Earnings 228,000
Other Assets 6,000 Total Equity 287,000
Total Assets 356,000 Total Liabilities & Equity 356,000
Ruston Company Statement of Cash Flows January 1 to March 31, 2022 (amounts in thousands)
Net Income 5,800
Depreciation 1,300
Decrease (Increase) in Accounts Receivable (600)
Decrease (Increase) in Inventory 1,000
Increase (Decrease) in Accounts Payable 300
Other Adjustments 0
Net Cash Flow from Operating Activities 7,800
Purchase of Property, Plant, & Equipment (8,300)
Other Adjustments 0
Net Cash Flow from Investing Activities (8,300)
Increase (Decrease) in Debt 700
Dividends (500)
Other Adjustments 0
Net Cash Flow from Financing Activities 200
Net Cash Flow (300)

What is the value for Total Assets on March 31, 2022?

Please specify your answer in the same units as the financial statements (i.e., enter the number from your updated balance sheet).

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students