Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) Cash 9,900 Accounts Payable 2,700 Accounts Receivable 4,500 Debt 3,500 Inventory 3,800 Other
Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) Cash 9,900 Accounts Payable 2,700 Accounts Receivable 4,500 Debt 3,500 Inventory 3,800 Other Liabilities 1,000 Property Plant & Equipment 16,800 Total Liabilities 7,200 Other Assets 1,600 Paid-In Capital 8,000 Retained Earnings 21,400 Total Equity 29,400 Total Assets 36,600 Total Liabilities & Equity 36,600 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 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 What is the final amount in Inventory
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started