Question
Utilizing the balance sheet data of SABIC (Saudi Basic Industries Corporation) as of December 31, 2023, provided below, prepare a balance sheet in SAR, ensuring
Utilizing the balance sheet data of SABIC (Saudi Basic Industries Corporation) as of December 31, 2023, provided below, prepare a balance sheet in SAR, ensuring proper classification of assets, liabilities, and equity items. Include calculations for total assets, total liabilities, and shareholders' equity.
Asset | Amount (SAR) | Liability and Equity | Amount (SAR) |
Cash | 2,000,000 | Accounts Payable | 500,000 |
Accounts Receivable | 1,500,000 | Long-Term Debt | 3,000,000 |
Inventory | 3,000,000 | Common Stock | 4,000,000 |
Property, Plant, and Equipment | 10,000,000 | Retained Earnings | 6,000,000 |
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