Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) 14,300 Accounts Payable 4,100 Debt 5,800 Other Liabilities 14,800 Total Liabilities 700 Paid-In Capital Retained Earnings Total Equity 39,700 Total Liabilities & Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Purchase equipment for $50,000 in cash 2. Borrow $67,000 from a bank 3. Issue $80,000 in stock 4. Buy $16,000 worth of manufacturing supplies on credit What is the final amount in Inventory? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. 1,900 3,200 4,000 9,100 7,700 22,900 30,600 39,700

Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) 14,300 Accounts Payable 4,100 Debt 5,800 Other Liabilities 14,800 Total Liabilities 700 Paid-In Capital Retained Earnings Total Equity 39,700 Total Liabilities & Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Purchase equipment for $50,000 in cash 2. Borrow $67,000 from a bank 3. Issue $80,000 in stock 4. Buy $16,000 worth of manufacturing supplies on credit What is the final amount in Inventory? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. 1,900 3,200 4,000 9,100 7,700 22,900 30,600 39,700

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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Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) 14,700 Accounts Payable 4,800 Debt 3,800 Other Liabilities 15,800 Total Liabilities 900 Paid-In Capital 2,400 3,700 5,000 11,100 6,000 Retained Earnings 22,900 Total Equity 28,900 40,000 Total Liabilities & 40,000 Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020 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 6. Borrow $58,000 from a bank 7. Buy $15,000 worth of manufacturing supplies on credit What is the final amount in Accounts Payable?
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