Question

Prepare a Balance sheet for the Hospital on December 31 2019
Not all accounts listed maybe used in solving this problem
Cash			$50,000.00
Revenue			$60,000.00
Accounts Receivable			$25,000.00
Prepaid Insurance			$10,000.00
Insurance Expense			$11,000.00
Inventory			$22,000.00
Plant and Equipment			$100,000.00
Accounts Payable			$18,000.00
Interest Expense			$21,000.00
Wages Payable			$32,000.00
Wage Expense			$51,000.00
Mortgage Payable			$35,000.00
Net assets without donor			$26,000.00
restrictions
Net Asets withdonor restrictions				???????

Answer 1

Hospital Balance Sheet
December 31, 2019
Assets
Current Assets
Cash			$50,000
Accounts receivable			$25,000
Inventories			$22,000
Prepaid Insurance			$10,000
Total current assets			$107,000
Gross plant & equipment			$100,000
Total Assets			$207,000
Liabilities and net assets
Current Liabilities
Accounts Payable		$18,000
Wages Payable		$32,000
Total Current Liabilities		$50,000
Long-term debt
Mortgage Payable		$35,000
Total Liabilities			$85,000
Net assets
without donor		$26,000
with donor restrictions		$96,000
Total net assets			$122,000
Total Liabilities and Net assets			$207,000