Question
ACME Company Balance Sheet As of January 5, 2018 (amounts in thousands) Cash 14,700 Accounts Receivable 4,800 Inventory 3,800 Property Plant & Equipment 15,800 Other
ACME Company
Balance Sheet
As of January 5, 2018
(amounts in thousands)
Cash 14,700
Accounts Receivable 4,800
Inventory 3,800
Property Plant & Equipment 15,800
Other Assets 900
Total Assets 40,000
Accounts Payable 2,400
Debt 3,700
Other Liabilities 5,000
Total Liabilities 11,100
Paid-In Capital 6,000
Retained Earnings 22,900
Total Equity 28,900
Total Liabilities & Equity 40,000
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. Buy $15,000 worth of manufacturing supplies on credit
3. Purchase equipment for $44,000 in cash
4. Issue $80,000 in stock
5. Pay $4,000 owed to a supplier
6. Borrow $58,000 from a bank
7. Buy $15,000 worth of manufacturing supplies on credit
What is the final amount in Accounts Payable?
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Interpreting And Analyzing Financial Statements
Authors: Karen P Schoenebeck, Mark P Holtzman
5th Edition
0136121985, 9780136121985
