Question
Accounting - Balance Sheet II #2 ACME Company Balance Sheet As of January 5, 2018 (amounts in thousands) Cash 13,700 Accounts Receivable 3,200 Inventory 5,100
Accounting - Balance Sheet II
#2
ACME Company
Balance Sheet
As of January 5, 2018
(amounts in thousands)
Cash 13,700
Accounts Receivable 3,200
Inventory 5,100
Property Plant & Equipment 15,400
Other Asses 800
Total Assets 800
Accounts Payable 2,000
Debt 3,600
Other Liabilities 900
Total Liabilities 6,500
Paid-In Capital 7,200
Retained Earnings 24,500
Total Equity 31,700
Total Liabilities & Equity 38,200
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2018
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
What is the final amount in Accounts Payable?
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Corporate Financial Strategy
Authors: Ruth Bender
4th Edition
1136181105, 9781136181108
