The following information is contained in the funds that are used to account for the transactions of the Hope Hospital,which is operated by a nonprofit,religious organization.The balances in the accounts are as of June 30,20X9,the end of the hospital's fiscal year.Credit amounts are in parentheses.

Additional information:
The $64,000 in the specific purpose fund is restricted for research activities to be conducted by the hospital.The current portion of long-term debt is $48,000.
Required:
Prepare a balance sheet for Hope Hospital as of June 30,20X9.

Question

The following information is contained in the funds that are used to account for the transactions of the Hope Hospital,which is operated by a nonprofit,religious organization.The balances in the accounts are as of June 30,20X9,the end of the hospital's fiscal year.Credit amounts are in parentheses.
  
Additional information:
The $64,000 in the specific purpose fund is restricted for research activities to be conducted by the hospital.The current portion of long-term debt is $48,000.
Required:
Prepare a balance sheet for Hope Hospital as of June 30,20X9.

Quizplus · Accepted Answer

The Answer of The following information is contained in the funds that are used to account for the transactions of the Hope Hospital,which is operated by a nonprofit,religious organization.The balances in the accounts are as of June 30,20X9,the end of the hospital's fiscal year.Credit amounts are in parentheses.
  
Additional information:
The $64,000 in the specific purpose fund is restricted for research activities to be conducted by the hospital.The current portion of long-term debt is $48,000.
Required:
Prepare a balance sheet for Hope Hospital as of June 30,20X9.

The Following Information Is Contained in the Funds That Are