9-28 HELP started the year with the following account balances (shown in alphabetical order):

Accounts Receivable $300,000

Cash 135,000

Accounts Payable 0

Equipment 70,000

Line of Credit 100,000

Permanently Restricted Net Assets 167,000

Supplies 7,000

Temporarily Restricted Net Assets 50,000

Unrestricted Net Assets 125,000

Wages Payable 70,000

Record these opening balances and the transactions from Problem 9-27 in a worksheet similar to Exhibit 9-4.

9-27The Hospital for Ending Long-term Problems (HELP) had the following financial events during the year:

1. Collected $250,000 in cash that it had billed to the federal government under Medicare. The money had been earned in the prior fiscal year and was recorded as revenue then.

2. Paid back $100,000 it borrowed at the end of last year on a line of credit. The bank did not charge interest.

3. Bought $25,000 in supplies to treat patients. HELP paid the supplier for all the supplies with cash. 4. Belongs to the state hospital association, and its membership is current (meaning it is paid up through the end of the year). HELP receives an invoice for $75,000 for next year's fees but has not paid it yet.

5. Replaced many of the patient examination tables. They cost $50,000, and HELP put $10,000 down in cash. The rest is still owed.

6. Paid $65,000 it owed employees from last year. Employees had earned this last fiscal year, and it was recorded as an expense then.

9-29

Use the ending balances from Problem 9-28 to conduct a balance sheet.