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Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total 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 37,300 Total Liabilities & Equity Jan 25. Consume good or service and pay expense of $2,000 Jan 26. Sell product for $40,000 in cash with historical cost of $32,000 Jan 27. Sell, deliver, and receive payment of $25,000 for service What is the final amount in Total Liabilities & Equity? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. 2,800 3,400 900 7,100 6,700 23,500 30,200 37,300 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. Please specify your answer in the same units as the balance sheet (ie enter the number from your undated

Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total 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 37,300 Total Liabilities & Equity Jan 25. Consume good or service and pay expense of $2,000 Jan 26. Sell product for $40,000 in cash with historical cost of $32,000 Jan 27. Sell, deliver, and receive payment of $25,000 for service What is the final amount in Total Liabilities & Equity? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. 2,800 3,400 900 7,100 6,700 23,500 30,200 37,300 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. Please specify your answer in the same units as the balance sheet (ie enter the number from your undated

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total 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 37,300 Total Liabilities & Equity 2,800 3,400 900 7,100 6,700 23,500 30,200 37,300 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. Consume good or service and pay expense of $2,000 Jan 26. Sell product for $40,000 in cash with historical cost of $32,000 Jan 27. Sell, deliver, and receive payment of $25,000 for service What is the final amount in Total Liabilities & Equity? 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).
Transcribed Image Text:Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total 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 37,300 Total Liabilities & Equity 2,800 3,400 900 7,100 6,700 23,500 30,200 37,300 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. Consume good or service and pay expense of $2,000 Jan 26. Sell product for $40,000 in cash with historical cost of $32,000 Jan 27. Sell, deliver, and receive payment of $25,000 for service What is the final amount in Total Liabilities & Equity? 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).
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