Brookdale Hospital hired an inexperienced controller early in \(20 \mathrm{X} 4\). Near the end of \(20 \mathrm{X} 4\), the board of directors decided to put on a major fund-raising campaign. They wished to have the December 31, 20X4, statement of financial position for Brookdale fully conform with current generally accepted principles for hospitals. The trial balance prepared by the controller at December \(31,20 \mathrm{X} 4\), is as follows:

1. Contributions receivable at December \(31,20 \times 4\), consist of the following:

2. Short-term investments at year-end consist of \(\$ 150,000\) of unrestricted funds and \(\$ 50,000\) of funds designated for future cancer research. All of the long-term investments are held in the endowment fund.
3. Land is carried at its current market value of \(\$ 120,000\). The original owner purchased the land for \(\$ 70,000\), and at the time of donation to the hospital the land had an appraised value of \(\$ 95,000\).

4. Buildings were purchased 11 years ago for \(\$ 600,000\) and have an estimated useful life of 30 years. Equipment costing \(\$ 150,000\) was purchased seven years ago and has an expected life of 10 years.
5. The board of directors voted on December \(29,20 \mathrm{X} 4\), to set aside \(\$ 100,000\) of unrestricted funds invested in short-term investments for use in developing a drug rehabilitation center.
\section*{Required}
Prepare in good form a balance sheet for Brookdale Hospital at December 31, 20X4.

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Cash Contributions receivable Investment in short-term marketable securities Investment in long-term marketable securities Interest receivable Accounts receivable Inventory Land Buildings and equipment Debit $ 100.000 185.000 200.000 300,000 15.000 55.000 35.000 120,000 750,000 Allowance for depreciation Accounts payable Mortgage payable Fund balance Total Credit $ 260.000 40,000 320,000 1.140.000 $1,760.000 $1,760,000