Assignment:
Below is a list of account balances for Currie Hospital as of December 31, 2013.
Prepare a balance sheet as of December 31, 2013, in proper form. (Hint: You will need to compute the net assets account. Assume that all net assets at the beginning of the year are unrestricted.) You may use either a Word document or an Excel spreadsheet to construct the balance sheet.
- Account Balance Gross plant & equipment $6,000,000
- Accounts payable 130,000
- Inventories 100,000
- Other current liabilities 70,000
- Net accounts receivable 650,000
- Accrued expenses 100,000
- Accumulated depreciation 200,000
- Long-term debt 5,000,000
- Cash 210,000.