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How much net income did the physical therapy generate during 2018? what was its net profit margin? Is the business financed primarily by liabilities or
How much net income did the physical therapy generate during 2018? what was its net profit margin? Is the business financed primarily by liabilities or stockholders equity? What is its current ratio
Complete this question by entering your answers in the tabs below. Is the business financed primarily by liabilities or stockholders' equity? Transacttons during 2018 (summarized in thousands of dollars) follow: a. Borrowed $32 cash onvuly 1, 2018, signing a six-month note payable: b. Purchased equipment for \$35 cash on July 2, 2018 c. Issued additional shares of common stock for $6 on July 3. d. Purchased software on July 4,$2 cash. e. Purchased supplies on July 5 on account for future use, $8. t Recorded revenues on December 6 of $66, including $9 on credit and $57 received in cash. g. Recognized salaries and wages expense on December 7 of $40, paid in cash. b. Collected accounts receivable on December 8,$8. 1. Paid accounts payable on December 9,$9. j. Received a $2 cash deposit on December 10 from a hospital for a contract to start January 5, 2019. Data for adjusting journal entries on December 31 : R. Amortization for 2018, $1. 1. Supplies of $2 were counted on December 31, 2018. m. Depreciation for 2018,$3. n. Accrued interest of $1 on notes payable. o. Salaries and wages incurred but not yet paid or recorded, $4 p. Income tax expense for 2018 was \$3 and will be paid in 2019 How much net income did the physical therapy clinic generate during 2018? What was its net profit margin? s the business financed primarily by liabilities or stockhoiders' equity? Vhat is its current ratio? How much net income did the physical therapy clinic generate during 2018? What was its net prof Income" in thousands of dollars. Round "Net Profit Margin" to 1 decimal place.) Required information The following information applies to the questions displayed below] Drs Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northiland Phystical Therapy, on January 1,2017. The annual reporting period ends December 31. The trial balance on Jantary 1,2018, was as follows the amounts are rounded to thousands of dollars to simplify) Transactions during 2018 (summarized in thousands of dollars) follow: a Borrowed $32 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $35 cash on July 2, 2018 c. Issued additional shares of common stock for $6 on July 3. d. Purchased software on July 4,$2 cash. e. Purchased supplies on July 5 on account for future use, $8. rRecorded revenues on December 6 of $66, including $9 on credit and $57 received in cash. g Recognized salaries and wages expense on December 7 of $40, paid in cash. h Collected accounts receivable on December 8,58 I Pair arcounts navable on Derember 9$9 Complete this question by entering your answers in the tabs below. What is its current ratio? (Enter Mur answers in thousands of dollars.) Step by Step Solution
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