Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) Cash 13,700 Accounts Payable...

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Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) Cash 13,700 Accounts Payable 2,000 Accounts Receivable 3,200 Debt 3,600 Inventory 5,100 Other Liabilities 900 Property Plant & Equipment 15,400 Total Liabilities 6,500 Other Assets 800 Paid-In Capital 7,200 Retained Earnings 24,500 Total Equity 31,700 Total Assets 38,200 Total Liabilities & Equity 38,200 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Receive payment of $12,000 owed by a customer 2. Purchase equipment for $45,000 in cash 3. Issue $85,000 in stock 4. Borrow $67,000 from a bank What is the final amount in Accounts Payable? 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). Acme Company Balance Sheet As of January 5, 2023 (amounts in thousands) Cash 13,700 Accounts Payable 2,000 Accounts Receivable 3,200 Debt 3,600 Inventory 5,100 Other Liabilities 900 Property Plant & Equipment 15,400 Total Liabilities 6,500 Other Assets 800 Paid-In Capital 7,200 Retained Earnings 24,500 Total Equity 31,700 Total Assets 38,200 Total Liabilities & Equity 38,200 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2023 1. Receive payment of $12,000 owed by a customer 2. Purchase equipment for $45,000 in cash 3. Issue $85,000 in stock 4. Borrow $67,000 from a bank What is the final amount in Accounts Payable? 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).

Answer rating: 100% (QA)

To update the balance sheet based on the given transactions we need to record the effects of each tr... View the full answer