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Brookdale Hospital hired an inexperienced controller early in 20X4. Near the end of 20X4, the board of directors decided to conduct a major fund-raising campaign. They wished to have the December 31, 20X4, statement of financial position for Brookdale fully conform with current generally accepted principles for hospitals. The trial balance prepared by the controller at December 31, 20X4, follows:

	Debit			Credit
Cash	$	100,300
Investment in Short-Term Marketable Securities		200,600
Investment in Long-Term Marketable Securities		301,200
Interest Receivable		16,600
Accounts Receivable		55,200
Inventory		37,000
Land		120,100
Buildings & Equipment		936,800
Allowance for Depreciation					$	259,100
Accounts Payable						40,900
Mortgage Payable						321,400
Fund Balance						1,146,400
Total	$	1,767,800			$	1,767,800

Additional Information:

1. Your analysis of the contributions receivable as of December 31, 20X4, determined that there were unrecognized contributions for the following:

Unrestricted use	$	41,100
Cancer research		10,500
Purchase of equipment		21,600
Permanently restricted endowment principal		31,700
Total	$	104,900

1. Short-term investments at year-end consist of $151,100 of funds without donor restrictions and $49,500 of funds restricted for future cancer research. All of the long-term investments are held in the permanently restricted endowment fund.
2. Land is carried at its current market value of $120,100. The original owner purchased the land for $70,300, and at the time of donation to the hospital, it had an appraised value of $96,000.
3. Buildings purchased 11 years ago for $615,000 had an estimated useful life of 30 years. Equipment costing $153,000 was purchased 7 years ago and had an expected life of 10 years. The controller had improperly increased the reported values of the buildings and equipment to their current fair value of $936,800 and had incorrectly computed the accumulated depreciation.
4. The board of directors voted on December 29, 20X4, to designate $101,000 of funds without donor restrictions invested in short-term investments for developing a drug rehabilitation center.

Required: Prepare a balance sheet for Brookdale Hospital at December 31, 20X4. (Amounts to be deducted should be indicated with minus sign.)

Required Prepare a balance sheet for Brookdale Hospital at December 31, 20X4. (Amounts to be deducted should be indicated with minus sign.) BROOKDALE HOSPITAL Balance Sheet December 31, 20X4 Assets Current Assets Cash Contributions receivable Investments in marketable securities Interest receivable Accounts receivable Inventory $ 100,300 104,900 200,600 16,600 55,200 37,000 Total current assets S 514,600 Long-term assets $ 768,000 Building & equipment Accumulated depreciation Net investment in buildings and equipment Land Investments in marketable securities 768,000 Total long-term assets Total assets Liabilities 768,000 1,282,600 Accounts payable Mortgage payable Total liabilities Net assets Without donor restrictions With donor restrictions Total net assets 0 Total liabilities and net assets

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