Question
Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) Cash9,000Accounts Payable1,200Accounts Receivable3,400Debt3,600Inventory5,100Other Liabilities2,100Property Plant & Equipment17,500 Total Liabilities6,900 Other Assets600Paid-In Capital5,900Retained Earnings22,800
Acme Company
Balance Sheet
As of January 5, 2020
(amounts in thousands)Cash9,000Accounts Payable1,200Accounts Receivable3,400Debt3,600Inventory5,100Other Liabilities2,100Property Plant & Equipment17,500Total Liabilities6,900Other Assets600Paid-In Capital5,900Retained Earnings22,800Total Equity28,700Total Assets35,600Total Liabilities & Equity35,600
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020
1. Borrow $55,000 from a bank
2. Buy $14,000 worth of manufacturing supplies on credit
3. Pay $7,000 owed to a supplier
4. Receive payment of $12,000 owed by a customer
What is the final amount in Cash?
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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