Question
On March 31, Sunrise Hospital had assets of $500,000, liabilities of $300,000, and net assets of $200,000. During April, the following transactions were completed: 1.
On March 31, Sunrise Hospital had assets of $500,000, liabilities of $300,000, and net assets of $200,000. During April, the following transactions were completed: 1. Services rendered to patients, $100,000 2. Collections on patients' accounts, $85,000 3. Supplies purchased on account, $20,000 4. Payments on accounts payable to suppliers, $16,000 5. Supplies consumed in patient-care services, $18,000 6. Other expenses paid in cash, $54,000 7. Purchased equipment for cash, $12,000 Complete a transaction analysis, on a a cash accounting basis not accrual accounting, showing all real and nominal account ending balances, end of April.
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