Accounting: Journal 5

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

What is the final amount in Total Assets?

Stuart Company* Balance Sheet AS of January 24, 2018 ( amounts in thousands ) Cash 8, 400| Accounts Payable 2, 800 Accounts Receivable* 4, 700| Debt 3, 400 Inventory! 4, 200| Other Liabilities 900 Property Plant & Equipment* 17, 200| Total Liabilities 7, 100 Other Assets 2, 800| 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 What is the final amount in Total Assets ? Please specify your answer in the same units as the balance sheet