Description
Below is a list of account balances for Currie Hospital as of December 31, 2013. Prepare a balance sheet as of December 31, 2013, in proper form. (Hint: You will need to compute the net assets account. Assume that all net assets at the beginning of the year are unrestricted.)
You may use either a Word document or an Excel spreadsheet to construct the balance sheet.
Account | Balance | |
Gross plant & equipment | $6,000,000 | |
Accounts payable | 130,000 | |
Inventories | 100,000 | |
Other current liabilities | 70,000 | |
Net accounts receivable | 650,000 | |
Accrued expenses | 100,000 | |
Accumulated depreciation | 200,000 | |
Long-term debt | 5,000,000 | |
Cash | 210,000 |
Explanation & Answer
Please check attachments for required work
Balance sheet
Assets
Current Assets
Cash
Inventories
Accounts receivable, net
Total ...
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