Stuart Company Balance Sheet As of January 24, 2022 (amounts in thousands) Cash 8,400 Accounts Payable 4,700 Accounts Receivable Inventory 4,200 Property Plant & Equipment 17,200 Other Assets 2,800 2,800 3,400 Debt Other Liabilities Total Liabilities 7,100 Paid-In Capital 6,700 Retained Earnings 23,500 Total Equity 30,200 Total Assets 37,300 Total Liabilities & Equity 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. 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? 900

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Stuart Company
Balance Sheet
As of January 24, 2022
(amounts in thousands)
Cash
Accounts Payable
Accounts Receivable
Debt
Inventory
Other Liabilities
Property Plant & Equipment 17,200 Total Liabilities
7,100
Other Assets
Paid-In Capital
6,700
Retained Earnings
23,500
Total Equity
30,200
Total Assets
37,300
Total Liabilities & Equity
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.
8,400
4,700
4,200
2,800
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?
2,800
3,400
900
Transcribed Image Text:Stuart Company Balance Sheet As of January 24, 2022 (amounts in thousands) Cash Accounts Payable Accounts Receivable Debt Inventory Other Liabilities Property Plant & Equipment 17,200 Total Liabilities 7,100 Other Assets Paid-In Capital 6,700 Retained Earnings 23,500 Total Equity 30,200 Total Assets 37,300 Total Liabilities & Equity 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. 8,400 4,700 4,200 2,800 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? 2,800 3,400 900
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