The following account balances were taken from the accountin

The following account balances were taken from the accounting records of the Senior Citizen Alternative Living Center.

Cash

$4,750

Building

$102,600

Revenue

$42,500

Accounts receivable

$11,400

Notes payable (due 19*9)

$30,000

Restricted fund balance

$19,500

Pledges receivable

$31,600

Wages payable

$5,100

Supplies on hand

$1,250

Salary expense

$46,000

Unearned revenue

$7,100

Unrestricted fund balance

$89,700

Depreciation expense

$12,500

Accounts payable

$3,800

Utilities expense

$6,100

Long-term investments

$26,800

Prepaid insurance

$1,800

Insurance expense

$900

Endowment fund balance

$25,000

Supplies used expense

$3,600

Interest expense

$3,000

Calculate the total current assets, total long-term assets, total current liabilities, and total long-term liabilities. Prepare a statement of financial position and an operating statement.

Cash	$4,750
Building	$102,600
Revenue	$42,500
Accounts receivable	$11,400
Notes payable (due 19*9)	$30,000
Restricted fund balance	$19,500
Pledges receivable	$31,600
Wages payable	$5,100
Supplies on hand	$1,250
Salary expense	$46,000
Unearned revenue	$7,100
Unrestricted fund balance	$89,700
Depreciation expense	$12,500
Accounts payable	$3,800
Utilities expense	$6,100
Long-term investments	$26,800
Prepaid insurance	$1,800
Insurance expense	$900
Endowment fund balance	$25,000
Supplies used expense	$3,600
Interest expense	$3,000

Solution

Senior Citizen Alternative Living Center Total current assets Operating statement Cash $4,750.00 Revenue $42,500 Accounts Receivable $11,400.00 Less : Expenses Pledges receivable $31,600.00 Salary Expense $46,000 Supplies on hand $1,250.00 Depreciation Expense $12,500 Prepaid insurance $1,800.00 Utilities Expense $6,100 Total current assets $50,800.00 Insurance Expense $900 Supplies Used Expense $3,600 Total long-term assets Interest Expense $3,000 Building $102,600.00 Total Expenses $72,100 Long-term investments $26,800.00 Net Surplus / (Deficit) -$29,600 Total Long term assets $129,400.00 Senior Citizen Alternative Living Center Total current Liabilities Balance Sheet Wages Payable $5,100.00 Assets Unearned revenue $7,100.00 Current assets $50,800 Accounts payable $3,800.00 Long term assets $129,400 Total Current Liabilities $16,000.00 Total Assets $180,200 Liabilities and Equity Total Long term liabilities Current Liabilities $16,000 Notes Payable $30,000.00 Long term Liabilities $30,000 Total Long term Liabilities $30,000.00 Equity Restricted fund balance $19,500 Unrestricted fund balance $89,700 Endowment fund balance $25,000 Total Equity $134,200 Total Liabilities and Equity $180,200