Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

End of the year, The Vulcan Community Hospital's balance sheet is provided below. Based on the provided information, What is the hospital's current ratio? AssetsAmount

image text in transcribed
image text in transcribed
image text in transcribed
End of the year, The Vulcan Community Hospital's balance sheet is provided below. Based on the provided information, What is the hospital's current ratio? AssetsAmount Liabilities & Net Assets Amount Current Assets Cash Accounts Receivable.Net $ 415,000.00 Current liabilities Accounts Payable $ $ 599,000.00 Wages Payable 435,000.00 100,000.00 $ Inventory $ 100,000.00 $ 535,000.00 Total Current Liabilities Long-term liabilities Prepaid Expense $ 6,000.00 Total Current Assets $ 1.120,000.00 Mortgage Payable $ 35,000.00 35,000.00 Total Long-term liabilities Total Liabilities Net Assets $ 570,000.00 Fixed Assets Net Building and Equipment $ 150,000.00 Unrestricted $ 600,000.00 Land $ Total Fixed Assets $ 150,000.00 $ Temporarily Restricted Permanently Restricted Total Net Assets Total Liabilities & Net Assets Goodwill $ 50,000.00 150,000.00 750.000.00 Total Assets $ 1,320,000.00 $ 1,320,000.00 1.75 O 2.38 2.50 2.09 End of the year, The Vulcan Community Hospital's some part of the balance sheet and the income statement information is provided below. Based on provided the information. What is the hospital's Return on Assets? Some Accounts From The Balance Sheet Current Assets $ 1,120,000.00 Current Liabilities $ 535,000.00 Long-term Liabilities $ 35,000.00 Total Net Assets $ 750,000.00 Some Accounts From The Income Statement Revenues Net Patient Services Revenue $ 600,000.00 Premium Revenue Other Operating Revenue Total Reveneues from Operations $ 600,000.00 Operating Expenses Salaries and Benefits $ 125,000.00 Medical Supplies and Drugs $ 125,000.00 Insurance $ 42,000.00 Depreciation $ 40,000.00 Interest $ 85,000.00 Provision for Bad Debts $ 35,000.00 Other Operating Expenses Total Expenses from Operations $452,000.00 Excess of Revenues Over $ 148,000.00 Expenses Unrestricted Contributions $ 150,000.00 Transfer to parents Net Income $ 298,000.00 O 0.20 O 0.06 O 0.11 0.18 End of the year, The Vulcan Community Hospital's some part of the balance sheet and the income statement is provided below. Based on the provided information. What is the hospital's Total Margin? Some Accounts From The Balance Sheet Current Assets $ 1,120,000.00 Current Liabilities $ 535,000.00 Long-term Liabilities $ 35,000.00 Total Net Assets $ 750,000.00 Some Accounts From The Income Statement Revenues Net Patient Services Revenue $ 600,000.00 Premium Revenue Other Operating Revenue Total Reveneues from Operations $ 600,000.00 Operating Expenses Salaries and Benefits $ 125,000.00 Medical Supplies and Drugs $ 125,000.00 Insurance $ 42,000.00 Depreciation $ 40,000.00 Interest $ 85,000.00 Provision for Bad Debts $ 35,000.00 Other Operating Expenses Total Expenses from Operations $452,000.00 Excess of Revenues Over $ 148,000.00 Expenses Unrestricted Contributions $ 150,000.00 Transfer to parents Net Income $ 298,000.00 0.30 O 0.25 O 0.35

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Database Security And Auditing Protecting Data Integrity And Accessibility

Authors: Hassan A. Afyouni

1st Edition

0619215593, 9780619215590

More Books

Students also viewed these Accounting questions

Question

Be familiar with the system construction process.

Answered: 1 week ago