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What is the amount of total assets to be reported

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Question - The Sewanee Corporation, a provider of printer hardware and IT consulting services, began business this year and entered into the following transactions during the year. The company issued common stock in exchange for cash of $22,000 from stockholders, borrowed $10,000 from a bank, bought $2,000 of inventory on account, provided IT consulting services of $1,000 on account, and purchased $8,000 of equipment by paying $5,000 in cash and issuing a note for the remainder. What is the amount of total assets to be reported on the balance sheet at the end of the year after these transactions?

Reference no: EM132904947

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