Given below is a list of account balances for Currie Hospital as of December 31, 2004. Prepare

Question:

Given below is a list of account balances for Currie Hospital as of December 31, 2004.

Prepare a balance sheet as of December 31, 2004, in good form.

AccountBalance

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

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...