Balance sheet. The following are account balances as of September 30, 20X1, for
ID: 2612730 • Letter: B
Question
Balance sheet. The following are account balances as of September 30, 20X1, for Ray Hospital. Prepare a balance sheet at September 30, 20X1. (Hint:net assets will also need to be calculated.)
Given
Gross plant, property, and equipment
$70,000,000
Accrued expenses
$6,000,000
Cash
$8,000,000
Net accounts receivable
$15,500,000
Accounts payable
$7,000,000
Long-term debt
$45,000,000
Supplies
$3,000,000
Accumulated depreciation
$5,000,000
explan step by step plz:
Given
Gross plant, property, and equipment
$70,000,000
Accrued expenses
$6,000,000
Cash
$8,000,000
Net accounts receivable
$15,500,000
Accounts payable
$7,000,000
Long-term debt
$45,000,000
Supplies
$3,000,000
Accumulated depreciation
$5,000,000
Explanation / Answer
Answer:
Calculation of shareholder equity:
Particulars Amount ($) Current Asset: Cash 8,000,000 Net account receivable 15,500,000 Supplies 3,000,000 26,500,000 Non current asset: Gross plant, property, and equipment 70,000,000 Less: Accumulated depreciation 5,000,000 65,000,000 Total Asset 91,500,000 Current Liabilities Accounts Payable 7,000,000 Accrued Expenses 6,000,000 13,000,000 Non current liability Long term debt 45000000 Shareholders equity (bal. fig) 33500000 78500000 Total liabilities and equity 91,500,000Related Questions
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