[jacobsc7]

This should be simple, but for some reason my balance sheet is not even close to matching. I am not sure what I am missing. Here is the list of accounts we are to use:

Account name Amount
Cash 1,322
Inventories 2,550
Net A/R 22,345
Prepaid expenses 3,889

PP& E (Plant, Property & Equipment) 118,702
Accumulated depreciation 44,304

Accounts payable 728
Salaries & withholdings payable 4,249
Notes payable 1,177
Current portion of long term debt 2,100
Long term debt, less current portion 15,100

Inpatient services 93,965
Outpatient services 105,365
Revenue deductions 49,771

Salary & wages 71,188
Employee benefits 11,520
Physician fees 3,893
Supplies 24,285
Repairs & maintenance 2,250
Depreciation 8,496
Insurances 2,870
Utilities 2,302
Other 10,748

As you can see there are no accounts that would be used under the balance sheet as retained earrings or stockholders equity. Therefore, that section is missing in my portion, but the above list is all the teacher gave us. Below is what I have so far, which I think is right for the assets, but I have to be missing something in the liabilities.


Assets:

Cash 1,322
Inventories 2,550
Net A/R 22,345
Prepaid expenses 3,889

Total Assets: 30,106


PP& E :

PP& E (Plant, Property & Equipment) 118,702
Accumulated depreciation (44,304)

Total PP&E: 74,398

Total Current Assets: 104,504


Liabilities:

Accounts payable 728
Salaries & withholdings payable 4,249
Notes payable 1,177
Current portion of long term debt 2,100
Long term debt, less current portion 15,100

Total Liabilities: 23,354


I'd really appreciate any help! Thanks!

[morgaine300]

Retained Earnings:

Beginning Balance
+Net Income
-Dividends
=Ending Balance

You can't do a Balance Sheet without having done the income statement and statement of retained earnings first. Or at least doing the math portion so that you have the numbers needed.