Question
Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) Cash9,900Accounts Payable2,700Accounts Receivable4,500Debt3,500Inventory3,800Other Liabilities1,000Property Plant & Equipment16,800 Total Liabilities7,200 Other Assets1,600Paid-In Capital8,000Retained Earnings21,400
Acme Company
Balance Sheet
As of January 5, 2020
(amounts in thousands)Cash9,900Accounts Payable2,700Accounts Receivable4,500Debt3,500Inventory3,800Other Liabilities1,000Property Plant & Equipment16,800Total Liabilities7,200Other Assets1,600Paid-In Capital8,000Retained Earnings21,400Total Equity29,400Total Assets36,600Total Liabilities & Equity36,600
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020
1. Pay $4,000 owed to a supplier
2. Issue $90,000 in stock
3. Buy $16,000 worth of manufacturing supplies on credit
4. Purchase equipment for $49,000 in cash
5. Borrow $65,000 from a bank
6. Receive payment of $10,000 owed by a customer
7. Buy $17,000 worth of manufacturing supplies on credit
What is the final amount in Inventory?
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).
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