Question

Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands)
Cash	14,700	Accounts Payable	2,400
Accounts Receivable	4,800	Debt	3,700
Inventory	3,800	Other Liabilities	5,000
Property Plant & Equipment	15,800	Total Liabilities	11,100
Other Assets	900	Paid-In Capital	6,000
		Retained Earnings	22,900
		Total Equity	28,900
Total Assets	40,000	Total Liabilities & Equity	40,000

Update the balance sheet above to reflect the transactions below, which occur on January 6, 2019

1. Receive payment of $12,000 owed by a customer
2. Buy $15,000 worth of manufacturing supplies on credit

What is the final amount in Cash?

Please specify your answer in the same units as the balance sheet.

Answer 1

Acme Company Balance Sheet As of January 6, 2019 (amounts in thousands) Cash $ 14,712 Accounts Payable Accounts Receivable $ 4,788 Debt Inventory $ 3,800 Other Liabilities Supplies $ 15 Total Liabilities Property Plant & Equipment $ 15,800 Paid-In Capital Other Assets $ 900 Retained Earnings Total Equity Total Assets $ 40,015 Total Liabilities & Equity $ $ $ $ $ $ $ | $ 2,415 3,700 5,000 11,115 6,000 22,900 28,900 40,015 Working Notes: 1) Cash = $ 14700 + $ 12 = $ 14712. 2) Accounts Receivable = $4800 - $ 12 = $ 4788. 3) Accounts payable = $ 2400 + $ 15 = $ 2415

Final Amount in cash $ 14,712 Beginning balance Add : Collection from customer Ending balance ($'000) $ 14,700 $ 12 $ 14,712