Reference no: EM132948834

The Hospital for Ending Long-term Problems (HELP) had the following financial events during the year.

• 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 accounts receivable then.
• HELP paid back $100,000 it borrowed at the end of the last year on a line of credit. The bank did not charge interest.
• HELP bought $25,000 in supplies to treat patient. HELP paid the supplier for all the supplies with cash.
• HELP belongs to the state hospital association, and its membership is current (meaning it is paid up through the end of the year). HELP receivers an invoice for $75,000 for next year's fees but has not paid it yet.
• 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.
• 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.

Problem 1: Show the impact of these transactions on the Fundamental Equation of Accounting