Balance Sheet

Definition: Assets, liabilities, equity at a point in time

Scope:Very BroadDifficulty:Very Easy

Assets, liabilities, equity at a point in time

Fictitious Conglomeration Corporation
Balance Sheet
As of December 31, 2025
ASSETS
Current Assets
Cash and Cash Equivalents	$124,500
Short-Term Investments	35,000
Accounts Receivable	187,200
Less: Allowance for Doubtful Accounts	(9,360)
Inventory	142,800
Prepaid Expenses	18,400
Total Current Assets	$498,540

Non-Current Assets
Property, Plant & Equipment	$680,000
Less: Accumulated Depreciation	(204,000)
Goodwill	95,000
Other Intangible Assets	42,000
Total Non-Current Assets	$613,000

TOTAL ASSETS	$1,111,540

LIABILITIES AND EQUITY
Current Liabilities
Accounts Payable	$96,300
Accrued Expenses	34,700
Current Portion of Long-Term Debt	25,000
Unearned Revenue	12,500
Total Current Liabilities	$168,500

Non-Current Liabilities
Long-Term Debt	$275,000
Deferred Tax Liability	18,200
Total Non-Current Liabilities	$293,200

Total Liabilities	$461,700

Members' Equity
Members' Capital Contributions	$350,000
Retained Earnings	299,840
Total Members' Equity	$649,840

TOTAL LIABILITIES AND EQUITY	$1,111,540

Assets = Liabilities + Equity → $1,111,540 = $461,700 + $649,840

DurationN/A

Sub-topics (1)