This is finance class. They are two problems, but its one question. the template

Question

This is finance class. They are two problems, but its one question. the template is below.

Problem 10-27. HELP started the year with the following account balances (shown in alphabetical order):
Accounts Receivable ..............$ 300,000
Cash ........................135,000
Accounts Payable ..................0
Equipment ...............................70,000
Line of Credit .........................100,000
Permanently Restricted Net Assets ..........167,000
Supplies .....................................7,000
Temporarily Restricted Net Assets .........50,000
Unrestricted Net Assets ...............125,000
Wages Payable .........................70,000
Record these opening balances and the transactions from Problem 10-26

(Problem10-26) The Hospital for Ending Long-term Problems (HELP) had the following financial events during the year:
1. HELP collected $ 250,000 in cash that it had billed to the federal government under Medicare. The money had been earned in the prior fiscal year, and was recorded as revenue then.
2. HELP paid back $ 100,000 it borrowed at the end of last year on a line of credit. The bank did not charge interest.
3. HELP bought $ 25,000 in supplies to treat patients. HELP paid the supplier for all the supplies with cash.
4. HELP belongs to the state hospital association, and its membership is current (meaning it is paid up through the end of the year). HELP receives an invoice for $ 75,000 for next year's fees but has not paid it yet.
5. HELP replaced many of the patient examination tables. They cost $ 50,000, and HELP put $ 10,000 down in cash. The rest is still owed.
6. HELP paid $ 65,000 it owed employees from last year. Employees had earned this last fiscal year, and it was recorded as an expense then.
Show the impact of these transactions on the fundamental equation of accounting.

Explanation / Answer

Particulars Assets Liabilities Net Assets Cash Accounts Receivable Equipment Supplies Accounts Payable Line of Credit Wages Payable Permanently Restricted Tempararly Restricted Un Restricted Opening Balance                 135,000                        300,000                 70,000               7,000                            -            (100,000)              (70,000)          167,000          50,000           125,000 1) Cash Receipts                 250,000                      (250,000) 2) Paid Loan                (100,000)           100,000 3) Supplies                  (25,000)             25,000 4) Payable - Note 1 5) Replacement                  (10,000)                 50,000                   (40,000) 6) Pay for Employee                  (65,000)               65,000 Closing                 185,000                          50,000               120,000             32,000                   (40,000)                     -                  (5,000)          167,000          50,000           125,000 Note 1 Since it was not accrued no liablity will arise to accrue in books as payable- So no entry recorded

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