Saturday, 16 November 2019

Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash 9,000 Accounts

Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash 9,000 Accounts Payable 1,200 Accounts Receivable 3,400 Debt 3,600 Inventory 5,100 Other Liabilities 2,100 Property Plant & Equipment 17,500 Total Liabilities 6,900 Other Assets 600 Paid-In Capital 5,900 Retained Earnings 22,800 Total Equity 28,700 Total Assets 35,600 Total Liabilities & Equity 35,600 Update the balance sheet above to reflect the transactions below, which occur on January 6, 2019 1. Borrow $55,000 from a bank 2. Buy $14,000 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.

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