Question: Please answer all five questions or I will give you a thumbs down. 2nd time reposting this... 1. Acme Company Balance Sheet As of January
Please answer all five questions or I will give you a thumbs down. 2nd time reposting this...
1.
| Acme Company Balance Sheet As of January 5, 2022 (amounts in thousands) | |||
|---|---|---|---|
| Cash | 14,700 | Accounts Payable | 1,000 |
| Accounts Receivable | 4,100 | Debt | 2,500 |
| Inventory | 2,200 | Other Liabilities | 900 |
| Property Plant & Equipment | 13,000 | Total Liabilities | 4,400 |
| Other Assets | 1,600 | Paid-In Capital | 7,400 |
| Retained Earnings | 23,800 | ||
| Total Equity | 31,200 | ||
| Total Assets | 35,600 | Total Liabilities & Equity | 35,600 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2022
1. Pay $7,000 owed to a supplier 2. Buy $18,000 worth of manufacturing supplies on credit
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).
2.
| Acme Company Balance Sheet As of January 5, 2022 (amounts in thousands) | |||
|---|---|---|---|
| Cash | 11,900 | Accounts Payable | 1,200 |
| Accounts Receivable | 4,200 | Debt | 3,600 |
| Inventory | 3,200 | Other Liabilities | 3,900 |
| Property Plant & Equipment | 16,600 | Total Liabilities | 8,700 |
| Other Assets | 1,400 | Paid-In Capital | 5,700 |
| Retained Earnings | 22,900 | ||
| Total Equity | 28,600 | ||
| Total Assets | 37,300 | Total Liabilities & Equity | 37,300 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2022
1. Purchase equipment for $47,000 in cash 2. Issue $85,000 in stock 3. Pay $5,000 owed to a supplier 4. Receive payment of $13,000 owed by a customer
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).
3.
| Acme Company Balance Sheet As of January 5, 2022 (amounts in thousands) | |||
|---|---|---|---|
| Cash | 14,500 | Accounts Payable | 2,700 |
| Accounts Receivable | 4,500 | Debt | 3,000 |
| Inventory | 2,900 | Other Liabilities | 1,300 |
| Property Plant & Equipment | 14,300 | Total Liabilities | 7,000 |
| Other Assets | 1,600 | Paid-In Capital | 5,800 |
| Retained Earnings | 25,000 | ||
| Total Equity | 30,800 | ||
| Total Assets | 37,800 | Total Liabilities & Equity | 37,800 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2022
1. Borrow $62,000 from a bank 2. Pay $7,000 owed to a supplier 3. Issue $70,000 in stock 4. Purchase equipment for $48,000 in cash 5. Receive payment of $11,000 owed by a customer 6. Buy $15,000 worth of manufacturing supplies on credit 7. Buy $17,000 worth of manufacturing supplies on credit
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).
4.
| Acme Company Balance Sheet As of January 5, 2022 (amounts in thousands) | |||
|---|---|---|---|
| Cash | 12,000 | Accounts Payable | 2,000 |
| Accounts Receivable | 4,200 | Debt | 2,400 |
| Inventory | 2,500 | Other Liabilities | 1,500 |
| Property Plant & Equipment | 13,100 | Total Liabilities | 5,900 |
| Other Assets | 3,900 | Paid-In Capital | 7,700 |
| Retained Earnings | 22,100 | ||
| Total Equity | 29,800 | ||
| Total Assets | 35,700 | Total Liabilities & Equity | 35,700 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2022
1. Sell product for $20,000 with historical cost of $16,000
What is the final amount in Retained Earnings?
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).
5.
| Acme Company Balance Sheet As of January 5, 2022 (amounts in thousands) | |||
|---|---|---|---|
| Cash | 10,300 | Accounts Payable | 2,100 |
| Accounts Receivable | 3,000 | Debt | 3,100 |
| Inventory | 2,800 | Other Liabilities | 2,900 |
| Property Plant & Equipment | 17,800 | Total Liabilities | 8,100 |
| Other Assets | 1,500 | Paid-In Capital | 5,100 |
| Retained Earnings | 22,200 | ||
| Total Equity | 27,300 | ||
| Total Assets | 35,400 | Total Liabilities & Equity | 35,400 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2022
1. Sell product for $40,000 with historical cost of $32,000 2. Sell product for $20,000 with historical cost of $16,000 3. Sell product for $25,000 with historical cost of $20,000
What is the final amount in Retained Earnings?
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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