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Balance Sheet and Statement of Operations

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1. View the list of account balances for Currie Hospital as of December 31, 2013. Prepare a balance sheet as of December 31, 2013, in proper form. (Hint: You will need to compute the net assets account. Assume that all net assets at the beginning of the year are unrestricted.)

2. View the list of accounts for Currie Hospital for December 2013 (annual amounts). Prepare a statement of operations for 2013 in good form.

Remember that plant, property and equipment are not current assets on the balance sheet. Also, of note is that you must adjust for the transfer of the parent corporation after you have calculated the operating income to arrive at the unrestricted net assets.

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This solution looks at a list of account balances and prepares a balance sheet and statement of operations for Currie Hospital.