1. Please reference transactionexercise 18 in the supplemental Principles and Practices of Accounting PDF file for this question.Using the excel template provided within the week 3folder,list and record each 20X1 transaction under the accrual basis of accounting. When complete, develop a balance sheet for years-ended 20X0 and 20X1, and a statement of operations.For this and the next 3 questions, you will be asked to provide a balance or amount from the resulting balance sheet and/or statement of operations.
2. Surgery Center, Inc.had the following ending balances for its assets,liabilities and net asset accounts as of December 21,20X0:
3. Cash$50,000Accounts receivable$85,000Allowance for uncollectibles$15,000Inventory of supples$8,000Prepaid insurance$1,300Long-term investments$15,000Plant, property and equipment$4,000,000Accumulated depreciation$2,000,000Accounts payable$75,000Accrued expenses$22,000Long-term debt$1,300,000Unrestricted net assets$652,300Permanently restricted net assets$95,000
12. Multiple Choice Question:Total Liabilities,of the equationAssets=Liabilities+NetAssets,for20X1equals:
14. $70,500
15. $97,000
16. $1,070,500
17. $1,840,000