Brookdale Hospital hired an inexperienced controller early in 20X4. Near the end of 20X4, the board of directors decided to conduct 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, 20X4, follows:

Cash	$	101,000
Investment in Short-Term Marketable Securities		201,600
Investment in Long-Term Marketable Securities		301,400
Interest Receivable		16,400
Accounts Receivable		55,600
Inventory		35,200
Land		121,600
Buildings & Equipment		935,700
Allowance for Depreciation					$	259,400
Accounts Payable						40,200
Mortgage Payable						321,300
Fund Balance						1,147,600
Total	$	1,768,500			$	1,768,500

Your analysis of the contributions receivable as of December 31, 20X4, determined that there were unrecognized contributions for the following:

Unrestricted use$40,300 Cancer research 10,800 Purchase of equipment 20,500 Permanently restricted endowment principal 32,000 Total$103,600

2. Short-term investments at year-end consist of $151,600 of funds without donor restrictions and $50,000 of funds restricted for future cancer research. All of the long-term investments are held in the permanently restricted endowment fund.
3. Land is carried at its current market value of $121,600. The original owner purchased the land for $70,500, and at the time of donation to the hospital, it had an appraised value of $97,000.
4. Buildings purchased 11 years ago for $610,500 had an estimated useful life of 30 years. Equipment costing $152,400 was purchased 7 years ago and had an expected life of 10 years. The controller had improperly increased the reported values of the buildings and equipment to their current fair value of $935,700 and had incorrectly computed the accumulated depreciation.
5. The board of directors voted on December 29, 20X4, to designate $101,700 of funds without donor restrictions invested in short-term investments for developing a drug rehabilitation center.

Answer is not complete.

BROOKDALE HOSPITAL
Balance Sheet
December 31, 20X4
Assets
Current Assets:
Cash	$101,000 correct
Contributions receivable	103,600 correct
Investments in marketable securities	201,600 correct
Interest receivable	16,400 correct
Accounts receivable	55,600 correct
Inventory	35,200 correct
Total current assets		$513,400
Long-term assets:
Building & equipment	WRONG
Accumulated depreciation	WRONG
Net investment in buildings and equipment	$0
Land	97,000 correct
Investments in marketable securities	301,400 correct
Total long-term assets		398,400
Total assets		$911,800
Liabilities
Accounts payable	$40,200 correct
Mortgage payable	321300 correct
Total liabilities		$361,500
Net assets:
Without donor restriction	WRONG
With donor restriction	WRONG
Total net assets		WRONG
Total liabilities and net assets		WRONG