Question

Acme Company Balance Sheet As of January 5, 2020 (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, 2020

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 1

The updated Balance Sheet Acme Company as on January 6, 2020 is as follows :-

Acme Company
Balance Sheet as on January 6, 2020
(Amounts in thousand doller)
Assets	$	Liabilities	$
Cash	13734	Accounts Payable	2085
Accounts Receivable	3188	Debt	3667
Inventory	5185	Other Liabilities	900
Property Plant & Equipment	15445	Total Liabilities	6652
Other Assets	800	Paid-in Capital	7200
		Retained Earnings	24500
		Total Equity	31700
Total Assets	38352	Total Liabilities & Equity	38352