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The following information is contained in the funds that are used to account for the transactions of the Hospital of Havencrest, which is operated by
The following information is contained in the funds that are used to account for the transactions of the Hospital of Havencrest, which is operated by a religious organization. The balances in the accounts are as of June 30, 20X8, the end of the hospital's fiscal year. Specific- Purpose Fund $ 32,000 Plant Replacement and Expansion Fund $140,000 Endowment Fund $ 20,000 General Fund $ 30,000 25,000 (5,000) 50,000 10,000 100,000 300,000 (140,000) 45,000 17,000 11,000 24,000 125,000 60,000 Cash Accounts Receivable Allowance for Uncollectibles Inventories Prepaid Expenses Long-Term Investments Property, plant and Equipment Accumulated Depreciation Accounts Payable Accrued Expenses Deferred Revenue Current Portion-Long-Term Debt Mortgage Payable 500,000 Additional Information: The $32,000 in the specific purpose fund is restricted for research activities to be conducted by the hospital. Required: Prepare a balance sheet for Havencrest at June 30, 20X8
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