Question
Balance Sheet Preparation XYZ Corporation has the following assets: Cash $50,000, Accounts Receivable $30,000, Inventory $20,000, and Property, Plant, and Equipment $150,000. Liabilities include Accounts
Balance Sheet Preparation
XYZ Corporation has the following assets: Cash $50,000, Accounts Receivable $30,000, Inventory $20,000, and Property, Plant, and Equipment $150,000. Liabilities include Accounts Payable $25,000 and Long-Term Debt $100,000. Prepare a balance sheet for XYZ Corporation in table format, showing the classification of assets and liabilities.
Assets Liabilities Cash: $50,000 Accounts Payable: $25,000 Accounts Receivable: $30,000 Long-Term Debt: $100,000 Inventory: $20,000
Property, Plant, and Equipment: $150,000
Balance Sheet Preparation
XYZ Corporation has the following assets: Cash $50,000, Accounts Receivable $30,000, Inventory $20,000, and Property, Plant, and Equipment $150,000. Liabilities include Accounts Payable $25,000 and Long-Term Debt $100,000. Prepare a balance sheet for XYZ Corporation in table format, showing the classification of assets and liabilities.
| Assets | Liabilities |
|---|---|
| Cash: $50,000 | Accounts Payable: $25,000 |
| Accounts Receivable: $30,000 | Long-Term Debt: $100,000 |
| Inventory: $20,000 | |
| Property, Plant, and Equipment: $150,000 |
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Interpreting and Analyzing Financial Statements
Authors: Karen P. Schoenebeck, Mark P. Holtzman
6th edition
132746247, 978-0132746243
