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CoursHeroTranscribedText: Assets Current Assets: Total current assets Long-ten" assets: Net investment in buildings and equipment Total longterm assets Total assets Lia bil ities Total liabilities Net assets: Total net assets Total liabilities and net assets Brookdale Hospital hired an inexperienced controller early in 20x4. Near the end of 20x4, the board of directors decided to conduct a major fundraising campaign. They wished to have the December 31, 20x4, statement offinancial 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 5 161,966 Investment in ShortTerm Marketable Securities 268,668 Investment in LongTerm Marketable Securities 361,660 Interest Receivable 16,160 Accounts Receivable 56,260 Inventory 36, 566 Land 128,566 Buildings 81 Equipment 935,480 Allowance 'For Depreciation $ 259,306 Accounts Payable 48300 Mortgage Payable 328,669 Fund Balance 1,14?,308 Total $1,767,9w $1,767,9w 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 $ 41,900 Cancer research 18,500 Purchase of equipment 28,600 Permanently restricted endowment principal 31,400 Total $164,4W 2. Shortterm investments at yearend consist of $151,600 of funds without donor restrictions and $49,000 of funds restricted for future cancer research. All of the longterm investments are held in the permanently restricted endowment fund. 3. Land is carried at its current market value of $120,500. The original owner purchased the land for $71,300, and at the time of donation to the hospital, it had an appraised value of $95,?00. 4. Buildings purchased 11 years ago for $603,000 had an estimated useful life of 30 years. Equipment costing $150,900 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 $935,400 and had incorrectly computed the accumulated depreciation. 5. The board of directors voted on December 29, 20x4, to designate $100,700 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

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