Douglasville Hospital started with the following balances: $425,000 in Equity $175,000 in Liabilities $600,000 in Assets 1. Paid $140,000 on a loan. $20,000 of this is interest. 2. Billed patients $285,000 for services rendered 3. Previously bought an insurance policy for $10,000 for 2 years of coverage - need to account for one year's use. 4. Used $90,000 in supplies on patient care 5. Ordered a truck to be delivered next month for $80,000 6. Collected $150,000 on patient accounts 7. Paid wages of $125,000 The organization made a profit or loss over this period? The new Equity total and the beginning balance for the next period would be: Liabilities increased or decreased over this time period. Yes or No: There is a journal entry for #5 The new Asset total and the beginning balance for the next period is: For #2 Routine services revenue would be a journal entry - Debit or Credit [Choose ] [ Choose ] [Choose ] [Choose ] [Choose] [Choose ] >

Douglasville Hospital started with the following balances: $425,000 in Equity $175,000 in Liabilities $600,000 in Assets 1. Paid $140,000 on a loan. $20,000 of this is interest. 2. Billed patients $285,000 for services rendered 3. Previously bought an insurance policy for $10,000 for 2 years of coverage - need to account for one year's use. 4. Used $90,000 in supplies on patient care 5. Ordered a truck to be delivered next month for $80,000 6. Collected $150,000 on patient accounts 7. Paid wages of $125,000 The organization made a profit or loss over this period? The new Equity total and the beginning balance for the next period would be: Liabilities increased or decreased over this time period. Yes or No: There is a journal entry for #5 The new Asset total and the beginning balance for the next period is: For \#2 Routine services revenue would be a journal entry-Debit or Credit