13. Balance Sheet Preparation 

DEF Enterprises has the following assets: Cash $70,000, Accounts Receivable $45,000, Inventory $40,000, and Property, Plant, and Equipment $250,000. Liabilities include Accounts Payable $50,000 and Long-Term Debt $200,000. Prepare a balance sheet for DEF Enterprises, detailing assets, liabilities, and owner's equity.

DEF Enterprises' balance sheet is prepared as follows: Assets:

• Cash: $70,000
• Accounts Receivable: $45,000
• Inventory: $40,000
• Property, Plant, and Equipment: $250,000

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Total Assets: $405,000

Liabilities:

• Accounts Payable: $50,000
• Long-Term Debt: $200,000

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Total Liabilities: $250,000

Owner's Equity:

• Total Assets - Total Liabilities
• $405,000 - $250,000

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Owner's Equity: $155,000