Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) 9,100 Accounts Payable 4,400 Debt 4,800 Other Liabilities 15,600 Total Liabilities 2,600 Paid-In Capital Retained Earnings Total Equity 36,500 Total Liabilities & Equity 1,900 2,400 600 4,900 6,900 24,700 31,600 36,500 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Sell product for $25,000 with historical cost of $20,000 2. Sell product for $30,000 with historical cost of $24,000 3. Sell product for $40,000 with historical cost of $32,000 What is the final amount in Retained Earnings? 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).
Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) 9,100 Accounts Payable 4,400 Debt 4,800 Other Liabilities 15,600 Total Liabilities 2,600 Paid-In Capital Retained Earnings Total Equity 36,500 Total Liabilities & Equity 1,900 2,400 600 4,900 6,900 24,700 31,600 36,500 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Sell product for $25,000 with historical cost of $20,000 2. Sell product for $30,000 with historical cost of $24,000 3. Sell product for $40,000 with historical cost of $32,000 What is the final amount in Retained Earnings? 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).
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...
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Plz don't copy answer without plagiarism plz different answers little i give up vote
![Cash
Accounts Receivable
Inventory
Property Plant & Equipment
Other Assets
Total Assets
Acme Company
Balance Sheet
As of January 5, 2023
(amounts in thousands)
9,100 Accounts Payable
4,400 Debt
4,800 Other Liabilities
15,600 Total Liabilities
2,600 Paid-In Capital
Retained Earnings
Total Equity
36,500 Total Liabilities & Equity
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023
1. Sell product for $25,000 with historical cost of $20,000
2. Sell product for $30,000 with historical cost of $24,000
3. Sell product for $40,000 with historical cost of $32,000
What is the final amount in Retained Earnings?
1,900
2,400
600
4,900
6,900
24,700
31,600
36,500
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).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75846f55-09e5-4940-bce5-0966d235b49d%2Fbef3ce2a-baba-460d-b544-c9213e3c9f32%2Fs7i932s_processed.png&w=3840&q=75)
Transcribed Image Text:Cash
Accounts Receivable
Inventory
Property Plant & Equipment
Other Assets
Total Assets
Acme Company
Balance Sheet
As of January 5, 2023
(amounts in thousands)
9,100 Accounts Payable
4,400 Debt
4,800 Other Liabilities
15,600 Total Liabilities
2,600 Paid-In Capital
Retained Earnings
Total Equity
36,500 Total Liabilities & Equity
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023
1. Sell product for $25,000 with historical cost of $20,000
2. Sell product for $30,000 with historical cost of $24,000
3. Sell product for $40,000 with historical cost of $32,000
What is the final amount in Retained Earnings?
1,900
2,400
600
4,900
6,900
24,700
31,600
36,500
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).
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