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Company PQR has the following financial information: Cash $250,000, Accounts Receivable $200,000, Inventory $160,000, and Property, Plant, and Equipment $1,500,000. Liabilities include Accounts Payable $200,000
Company PQR has the following financial information: Cash $250,000, Accounts Receivable $200,000, Inventory $160,000, and Property, Plant, and Equipment $1,500,000. Liabilities include Accounts Payable $200,000 and Long-Term Debt $900,000. Draft a balance sheet for Company PQR, detailing assets, liabilities, and owner's equity.
Company PQR's balance sheet is structured as follows:
Assets:
- Cash: $250,000
- Accounts Receivable: $200,000
- Inventory: $160,000
- Property, Plant, and Equipment: $1,500,000
Total Assets: $2,110,000
Liabilities:
- Accounts Payable: $200,000
- Long-Term Debt: $900,000
Total Liabilities: $1,100,000
Owner's Equity:
- Total Assets - Total Liabilities
- $2,110,000 - $1,100,000
Owner's Equity: $1,010,000
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