Hopewell Corporation Balance Sheet As of December 31, 2017 (amounts in thousands

Question

Hopewell Corporation Balance Sheet As of December 31, 2017 (amounts in thousands) Cash Other Assets Total Assets 24,000 42,000 66,000 29,000 Liabilities 37,000 Equity 66,000 Total Liabilities & Equity Hopewell Corporation Income Statement January 1 to March 31, 2018 (amounts in thousands) Revenue Expenses Net Income 7,500 2,200 5,300 Between January 1 and March 31, 2018: 1. Cash decreases by $300,000 2. Liabilities increase by $400,000 3. Paid-In Capital does not change 4. Dividends paid of $500,000 What is the value for Other Assets on March 31, 2018? Please specify your answer in the same units as the financial statements ation tips

Explanation / Answer

Calculate value of other assets :

Other assetss on march 31,2018 = 42500000 or 42500

Liabilities (24000000+400000) 24400000 Equity (42000000+5300000-500000) 46800000 Total 71200000 Less: Cash (29000000-300000) -28700000 Other assets 42500000

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