Question

Use the starting balance sheet, income statement, and the list of changes to answer the question.

Dansko Integrated Balance Sheet As of December 31, 2019 (amounts in thousands)
Cash	29,000	Liabilities	33,000
Other Assets	26,000	Equity	22,000
Total Assets	55,000	Total Liabilities & Equity	55,000

Dansko Integrated Income Statement January 1 to March 31, 2020 (amounts in thousands)
Revenue	7,100
Expenses	2,800
Net Income	4,300

Between January 1 and March 31, 2020:

1. Cash increases by $200,000
2. Other Assets decrease by $100,000
3. Paid-In Capital does not change
4. Dividends paid of $200,000

What is the value for Liabilities on March 31, 2020?

Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars.

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

Answer 1

Ans: Value of Liabilities on March 31=2020

We Know That Assets= Equity + liabilities

Assets= cash+ Other Assets

Assets= {29,000+200}+{26,000-100}

Assets= 29,200+25,900

Assets= 55,100

Equities= Equities balance on Dec 31+ Net income- Dividends

Equities Balance as on March 31,2020= 22,000+4,300-200

Equities Balance= 26,100

Assets= Equity+ liabilities

55,100= 26,100+ Liabilities

29,000= Liabilities on March 31