Balance Sheet Preparation
Consider PQR Enterprises with the following assets: Cash $60,000, Accounts Receivable $35,000, Inventory $25,000, and Property, Plant, and Equipment $180,000. Liabilities include Accounts Payable $30,000 and Long-Term Debt $120,000. Prepare a balance sheet for PQR Enterprises, listing assets and liabilities in bullet points.

• Assets:

  • Cash: $60,000
  • Accounts Receivable: $35,000
  • Inventory: $25,000
  • Property, Plant, and Equipment: $180,000

• Liabilities:

  • Accounts Payable: $30,000
  • Long-Term Debt: $120,000