Question
Cash - 14300 Accounts Receivable -4100 Inventory - 5800 Property Plant & Equipment -14800 Other Assets - 700 Total Assets - 39700 Accounts Payable-1900 Debt
Cash - 14300\ Accounts Receivable -4100\ Inventory - 5800\ Property Plant & Equipment -14800\ Other Assets - 700\ Total Assets - 39700\ Accounts Payable-1900\ Debt - 3200\ Other Liabilities - 4000\ Total Liabilities - 9100\ Paid-In Capital -7700\ Retained Earnings -22900\ Total Equity -30600\ Total Liabilities & Equity-39700\ Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023\ 1. Purchase equipment for $50,000 in cash\ 2. Borrow $67,000 from a bank\ 3. Issue $80,000 in stock\ 4. Buy $16,000 worth of manufacturing supplies on credit\ 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