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piston motor company of japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and personal watercraft. as a japanese company, it follows japanese gaap and reports its financial statements in billions of yen (the sign for yen is ¥). a simplified version of its recent balance sheet contained the following items (in billions).

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According to the given data, the total liabilities and stockholders are calculated and equivalent to equity of ¥   12,339.

Define the Balance sheet.

A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of organization like the government or a not-for-profit entity. A balance sheet details a company's financial situation at a certain time. A balance sheet is used to assess the position of a business on a particular day, as opposed to an income statement, which presents financial data across time. Parties outside of a firm frequently examine a bank statement to determine the situation of the organization.

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