Balance Sheet Data:Assets:Cash: $60,000Inventory: $120,000Equipment: $150,000Liabilities:Accounts Payable: $50,000Long-term Debt: $100,000Equity:Capital: $180,000Requirements:Prepare a balance sheet as...
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Accounting
Balance Sheet Data:
- Assets:
- Cash: $60,000
- Inventory: $120,000
- Equipment: $150,000
- Liabilities:
- Accounts Payable: $50,000
- Long-term Debt: $100,000
- Equity:
- Capital: $180,000
Requirements:
- Prepare a balance sheet as of December 31, 2023.
- Analyze the liquidity position of the company.
- Discuss the company's solvency based on the balance sheet.
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