Homework Solution
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abc_health_care_balance_sheet_template.xlsxSheet1
| ABC Health Care | ||
| Balance Sheet | ||
| Assets | ||
| Current Assets | ||
| Cash | $700,000 | |
| Accounts Receivable | $1,300,000 | |
| Inventory | $175,000 | |
| Supplies | $150,000 | |
| Total Current Assets | $2,325,000 | |
| Long-Term Assets | ||
| Land | $3,000,000 | |
| Property and Plant | $575,000 | |
| Investment Income (loss) | $147,000 | |
| Equipment | $350,000 | |
| Total Long-Term Assets | $4,072,000 | |
| Total Assets | $6,397,000 | |
| Liabilities | ||
| Current Liabilities | ||
| Accounts Payable | $1,400,000 | |
| Wages Payable | $480,000 | |
| Taxes Payable | $225,000 | |
| Total Current Liabilites | $2,105,000 | |
| Long Term Liabilities | ||
| Loans Payable | $70,000 | |
| Bonds payable | $68,000 | |
| Total Long-Term Liabilites | $138,000 | |
| Total Liabilites | $2,243,000 | |
| Owners Equity | ||
| Retained Earnings | $148,000 | |
| Stock | $340,000 | |
| Total Owners Equity | $488,000 | |
| Net Worth (Loss) | $3,666,000 | |
