Prepare a Balance Sheet and Determine Net Assets

Question

Zahrah recently graduated from KSAU-HS, CPHHI as a specialist in healthcare management. After realizing a huge demand for community health services, she decided to set up (along with two other colleagues) a HCO in Hail. The following table reflects the financial position of the clinic after the first year of operation.

Required:

i. List assets and calculate their value

ii. List liabilities and calculate their value

iii. Determine equity (net assets) of the clinic

iv. Prepare a financial statement (balance sheet)

Summary: This question belongs to accounting and discusses about financial transactions and explains assets and their value, liabilities and their value, equity, and balance of the clinic.

Answer is in Excel format