Subject - account Please help me. Thankyou. CashAccounts ReceivableInventoryProperty Plant & EquipmentOther AssetsTotal AssetsAcme CompanyBalance SheetAs of January 5, 2023(amounts in thousands)9,900 Accounts Payable4,500 Debt3,800 Other Liabilities16,800 Total Liabilities1,600 Paid-In CapitalRetained EarningsTotal Equity36,600 Total Liabilities & Equity2,7003,5001,0007,2008,00021,40029,40036,600Update the balance sheet above to reflect the transactions below, which occur on January 6, 20231. Sell product for $35,000 with historical cost of $28,000What 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 updatedbalance sheet).

a) Passing of Journal entry for sale transaction of product fro $35,000 having cost of $28,000. i)…

Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Sell product for $35,000 with historical cost of $28,000 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).

Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Sell product for $35,000 with historical cost of $28,000 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).

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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