Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Stuart Company Balance Sheet As of...

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Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Stuart Company Balance Sheet As of January 24, 2023 (amounts in thousands) 8,400 Accounts Payable 4,700 Debt 4,200 Other Liabilities 17,200 Total Liabilities 2,800 Paid-In Capital Retained Earnings Total Equity 2,800 3,400 900 7,100 6,700 23,500 30,200 37,300 Total Assets 37,300 Total Liabilities & Equity Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T- accounts, and construct a balance sheet to answer the question. Jan 25. Borrow $52,000 from a bank Jan 26. Purchase equipment for $48,000 in cash Jan 27. Issue $85,000 in stock Jan 28. Buy $15,000 worth of manufacturing supplies on credit Jan 29. Receive payment of $10,000 owed by a customer What is the final amount in Total Assets? 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). Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Stuart Company Balance Sheet As of January 24, 2023 (amounts in thousands) 8,400 Accounts Payable 4,700 Debt 4,200 Other Liabilities 17,200 Total Liabilities 2,800 Paid-In Capital Retained Earnings Total Equity 2,800 3,400 900 7,100 6,700 23,500 30,200 37,300 Total Assets 37,300 Total Liabilities & Equity Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T- accounts, and construct a balance sheet to answer the question. Jan 25. Borrow $52,000 from a bank Jan 26. Purchase equipment for $48,000 in cash Jan 27. Issue $85,000 in stock Jan 28. Buy $15,000 worth of manufacturing supplies on credit Jan 29. Receive payment of $10,000 owed by a customer What is the final amount in Total Assets? 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 rating: 100% (QA)

Answer Journal Entries Jan 25 Debit Cash 52000 Credit ... View the full answer