Question

Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands)
Cash	9,900	Accounts Payable	2,700
Accounts Receivable	4,500	Debt	3,500
Inventory	3,800	Other Liabilities	1,000
Property Plant & Equipment	16,800	Total Liabilities	7,200
Other Assets	1,600	Paid-In Capital	8,000
		Retained Earnings	21,400
		Total Equity	29,400
Total Assets	36,600	Total Liabilities & Equity	36,600

Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020

1. Pay $4,000 owed to a supplier
2. Issue $90,000 in stock
3. Buy $16,000 worth of manufacturing supplies on credit
4. Purchase equipment for $49,000 in cash

What is the final amount in Inventory?

Answer 1

Final Amount of Inventory = $ 3,816

Working:

Acme Company
Balance sheet
As on January 6, 2020
[amounts in thousands]
Cash [9900-4+90-49]	$    9,937	Account Payable [2700-4+16]	$    2,712
Accounts Receivable	$    4,500	Debt	$    3,500
Inventory [3800+16]	$    3,816	Other Liabilities	$    1,000
Property,plant, and equipment: [16800+49]	$ 16,849	Total Liabilities	$    7,212
Other Assets	$    1,600	Paid-In Capital [8000+90]	$    8,090
		Retained Earnings	$ 21,400
		Total Equity	$ 29,490
Total Assets	$ 36,702	Total Liabilities & Equity	$ 36,702