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Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) 13,700 Accounts Payable 3,200 Debt 5,100 Other Liabilities 15,400 Total Liabilities 800 Paid-In Capital Retained Earnings Total Equity 38,200 Total Liabilities & Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Receive payment of $12,000 owed by a customer 2. Purchase equipment for $45,000 in cash 3. Issue $85,000 in stock 4. Borrow $67,000 from a bank 5. Buy $17,000 worth of manufacturing supplies on credit 6. Pay $7,000 owed to a supplier 7. Receive payment of $11,000 owed by a customer What is the final amount in Accounts Payable? 2,000 3,600 900 6,500 7,200 24,500 31,700 38,200

Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) 13,700 Accounts Payable 3,200 Debt 5,100 Other Liabilities 15,400 Total Liabilities 800 Paid-In Capital Retained Earnings Total Equity 38,200 Total Liabilities & Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Receive payment of $12,000 owed by a customer 2. Purchase equipment for $45,000 in cash 3. Issue $85,000 in stock 4. Borrow $67,000 from a bank 5. Buy $17,000 worth of manufacturing supplies on credit 6. Pay $7,000 owed to a supplier 7. Receive payment of $11,000 owed by a customer What is the final amount in Accounts Payable? 2,000 3,600 900 6,500 7,200 24,500 31,700 38,200

FINANCIAL ACCOUNTING
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, 2023 (amounts in thousands) 13,700 Accounts Payable 3,200 Debt 5,100 Other Liabilities 15,400 Total Liabilities 800 Paid-In Capital Retained Earnings Total Equity 38,200 Total Liabilities & Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Receive payment of $12,000 owed by a customer 2. Purchase equipment for $45,000 in cash 3. Issue $85,000 in stock 4. Borrow $67,000 from a bank 5. Buy $17,000 worth of manufacturing supplies on credit 6. Pay $7,000 owed to a supplier 7. Receive payment of $11,000 owed by a customer What is the final amount in Accounts Payable? 2,000 3,600 900 6,500 7,200 24,500 31,700 38,200 A
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) 13,700 Accounts Payable 3,200 Debt 5,100 Other Liabilities 15,400 Total Liabilities 800 Paid-In Capital Retained Earnings Total Equity 38,200 Total Liabilities & Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Receive payment of $12,000 owed by a customer 2. Purchase equipment for $45,000 in cash 3. Issue $85,000 in stock 4. Borrow $67,000 from a bank 5. Buy $17,000 worth of manufacturing supplies on credit 6. Pay $7,000 owed to a supplier 7. Receive payment of $11,000 owed by a customer What is the final amount in Accounts Payable? 2,000 3,600 900 6,500 7,200 24,500 31,700 38,200 A
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