Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a b...

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Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a b...

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Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.

1. Borrow $52,000 from a bank
2. Purchase equipment for $48,000 in cash
3. Issue $85,000 in stock
4. Buy $15,000 worth of manufacturing supplies on credit
5. Receive payment of $10,000 owed by a customer

What is the final amount in Total Assets?

Please specify your answer in the same units as the balance sheet.

business accounting

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Answer 1

Answer #1

Stuart Company Cash Other Assets 8400 Equipment Bal 48000 Bal 2800 Debt 52000 Paid in Capital 85000 Accounts Receivable Bal 1

Balance sheet As at 11.3.2019 Amounts in $ Amounts in $ Liabilities Amounts in $ Amounts in $ Assets Current Liabilities Curr

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Answer 2

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