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Balance Sheet Construction for XYZ Co.

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6 views1 page

Balance Sheet Construction for XYZ Co.

Uploaded by

mariam.irsheed.2019
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Assignment #2

Chapter 2 (Financial Statements)/ Balance Sheet Construction

Principles of Finance

Financial Sciences and Banking Department

Business School

Using the information provided below, construct a balance sheet for XYZ Manufacturing Co. for
the year ending December 31, 2023. Some values are missing, and you need to calculate and fill
them in based on the relationships between the components of a balance sheet.

Given Data:

 Cash: $25,000
 Accounts Receivable: $15,000
 Inventory: $40,000
 Property, Plant, and Equipment: $300,000
 Accounts Payable: $30,000
 Short-Term Debt: $10,000
 Long-Term Debt: $180,000
 Common Stock: $150,000
 Retained Earnings: (Missing Value)
 Total Assets: (Missing Value)
 Total Liabilities: (Missing Value)
 Total Equity: (Missing Value)
 Total Liabilities and Equity: (Missing Value)

Requirements:

 Fill in the missing values using the accounting equation: Total Assets=Total Liabilities
+Total Equity?
 Provide a clear and organized balance sheet after completing the calculations?

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