Balance Sheet Preparation

Consider UVW Corporation with the following assets: Cash $50,000, Accounts Receivable $40,000, Inventory $35,000, and Property, Plant, and Equipment $200,000. Liabilities include Accounts Payable $45,000 and Long-Term Debt $150,000. Prepare a balance sheet for UVW Corporation, detailing assets, liabilities, and owner's equity.

UVW Corporation's balance sheet is prepared as follows: Assets:

• Cash: $50,000
• Accounts Receivable: $40,000
• Inventory: $35,000
• Property, Plant, and Equipment: $200,000

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Total Assets: $325,000

Liabilities:

• Accounts Payable: $45,000
• Long-Term Debt: $150,000

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Total Liabilities: $195,000

Owner's Equity:

• Total Assets - Total Liabilities
• $325,000 - $195,000

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Owner's Equity: $130,000