Homework Help Question & Answers
Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash 13,700 Accounts Payable…
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Acme Company |
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Balance Sheet |
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As of January 5, 2021 |
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(amounts in thousands) |
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Cash |
13,700 |
Accounts Payable |
2,000 |
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Accounts Receivable |
3,200 |
Debt |
3,600 |
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Inventory |
5,100 |
Other Liabilities |
900 |
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Property Plant & Equipment |
15,400 |
Total Liabilities |
6,500 |
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Other Assets |
800 |
Paid-In Capital |
7,200 |
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Retained Earnings |
24,500 |
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Total Equity |
31,700 |
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Total Assets |
38,200 |
Total Liabilities & Equity |
38,200 |
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Update the balance sheet above to reflect the transactions below, which occur on January 6, 2021 |
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1. Receive payment of $12,000 owed by a customer |
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2. Purchase equipment for $45,000 in cash |
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3. Issue $85,000 in stock |
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4. Borrow $67,000 from a bank |
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5. Buy $17,000 worth of manufacturing supplies on credit |
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6. Pay $7,000 owed to a supplier |
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7. Receive payment of $11,000 owed by a customer |
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What is the final amount in Accounts Payable? |
