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please make it clear to understand where to put the ans Brookdale Hospital hired an inexperienced controller early in 204. Near the end of 204,
please make it clear to understand where to put the ans
Brookdale Hospital hired an inexperienced controller early in 204. Near the end of 204, 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 , 204, follows: Additional Information: 1. Your analysis of the contributions receivable as of December 31,204, determined that there were unrecognized contributions for 2. Short-term investments at year-end consist of $151,000 of funds without donor restrictions and $49,400 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 $121,100. The original owner purchased the land for $71,800, and at the time of donation to the hospital, it had an appraised value of $95,300. 4. Buildings purchased 11 years ago for $616,500 had an estimated useful life of 30 years. Equipment costing $153,000 was purchasec 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 $936,300 and had incorrectly computed the accumulated depreciation. 5. The board of directors voted on December 29,204, to designate $101,500 of funds without donor restrictions invested in shortterm investments for developing a drug rehabilitation center. Required: Prepare a balance sheet for Brookdale Hospital at December 31, 20X4. (Amounts to be deducted should be indicated with minus sign.) \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ BROOKDALE HOSPITAL } \\ \hline \multicolumn{2}{|c|}{ Balance Sheet } \\ \hline December 31, 20X4 \\ \hline Assets & \\ \hline Current Assets: & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline Total current assets & \\ \hline Long-term assets: & \\ \hline & \\ \hline & \\ \hline \hline Net investment in buildings and equipment & \\ \hline \end{tabular}Step by Step Solution
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