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I need help in this question. Please do it correctly and 100%. Please do not make any mistake in this compicLOIL 4 Brookdale Hospital hired
I need help in this question. Please do it correctly and 100%. Please do not make any mistake in this
compicLOIL 4 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: 5 points Cash Investment in Short-Tern Marketable Securities Investment in Long-Term Marketable Securities Interest Receivable Accounts Receivable Inventory Land Buildings & Equipment Allowance for Depreciation Accounts Payable Mortgage Payable Fund Balance Total Debit Credit $ 180,700 201,900 381,788 16,400 55,600 36,00 120, 4ee 936,800 $ 259,500 40,480 329,788 1,148,90 $1,769,500 $1,769,500 Additional Information: 1. Your analysis of the contributions recevable as of December 31, 20X4, determined that there were unrecognized contributions for the following: Unrestricted use Cancer research Purchase of equipment Permanently restricted endowment principal Total $ 41,6ee 10,789 20,980 31,900 $105, 10e 2. Short-term Investments at year-end consist of $150.600 of funds without donor restrictions and $51.300 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 $120,400. The original owner purchased the land for $70,900, and at the time of donation to the hospital, It had an appraised value of $95.900. 4. Buildings purchased 11 years ago for $618,000 had an estimated useful life of 30 years. Equipment costing $151,200 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 $936,800 and had incorrectly computed the accumulated depreciation. 5. The board of directors voted on December 29, 20X4. to designate $101.200 of funds without donor restrictions Invested in short- term Investments for developing a drug rehabilitation center. Required: Prepare a balance sheet for Brookdale Hospitalet December 31, 20X4. (Amounts to be deducted should be indicated with minus sign.) Answer is not complete. BROOKDALE HOSPITAL Balance Sheat December 31, 20X4 Accetc Current Assets Cash $ 100,700 Contributions receivable 106,100 Investments in marketable secundes 201,900 Interest receivable 16,400 Accounts receivable 56,500 Inventory 36,000 OOOOOO $ 516,700 $ 936,800 Total currents Long-term scots Building & equipment Accumulated depreciation Not inventin buldings and equipment Land OOOO s 936,800 120,400 301,700 Investments in marketable securities 1,358,900 5 1.874,600 Total long-term assets Totalsts Llabilities Accounts payable Mortgage payable lolo 40,400 320,700 s 361,100 Total liabilities Not assets Without donor restrictions With donor restrictions Olo 31,900 41,000 Total notes Total abilities and not acts 73,500 434,500
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