1. On March 31, St. David’s Hospital had assets of $500,000, liabilities of $300,000, and net assets of $200,000. During April, the following transactions were completed:

1. Services rendered to patients, $100,000

2. Collections on patients' accounts, $85,000

3. Supplies purchased on account, $20,000

4. Payments on accounts payable to suppliers, $16,000

5. Supplies consumed in patient-care services, $18,000

6. Other expenses paid in cash, $54,000

7. Purchased equipment for cash, $12,000

Complete a transaction analysis, showing all real and nominal account ending balances, end of April.

Answer rating: 100% (QA)

To complete a transaction analysis and determine the ending balances of real and nominal accounts at the end of April we need to analyze each transact... View the full answer