Not-for-Profit Ledger Student Info Instructions Journal Entries Income Statement BalanceShe Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital. Hint: the below information is necessary for you to complete the assignment Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment 920,000 57,500 1,380,000 287,500 575,000 Assets Inventory Labor Interest Insurance 20,000 90,000 25,000 22,000 Expenses Depreciation 48,000 Accounts Payable Wages Payable Liabilities Mortgage Payable 815.000 110,000 990,000 C Unrestricted 845,000 Temporanly Restricted 345,000 Net Assets Permanently Restricted 115.000 Patient Service Revenue Revenue contributions donations Revenue- non-patient services (gft shop, parking etc.) 200,000 50,000 Revenue 30,000 1-Complete the Journal Entries and Corresponding T account records that are provided to you in "Journal Entries" woksheet 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginning and ending balances 3- By using the information provided to you and information that you generated in the ledger, prepare your balancesheet as of December 31 2018 by utilizing the BalanceSheet Template 4- By using the information provided to you and the information that you generated calculate your depreciation expense by using 3 different methods of depreciation methods Use the Depreciation template provided to you 5-By using the information provided to you and information that you generated in the ledger, prepare your income Statement as of December 31 2018 by utilizing the Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Depreciation calculation E- By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2018 by utilizing the Statement of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement BalanceShe Not-for-Profit Ledger Student Info Instructions Journal Entries Income Statement w Cape M BalanceShe Instructions Student Info Journal Entries Not-for-Proft Ledger Income Statement Ledger Account 00 BalanceSheet Template Notdor-Prot Ledger Income Statement CashFlow Statement Degrecia Ledger Account 1000 BalanceS Not-4or-Proft Ledger Student Info Instructions Journal Entries Income Statement NAME OF YOUR HOSPAL Operating Sm Forteer Enng 3, 20 Reveues Le Espense ivenory insucane Deprecon NETINOOME Student Info Instructions Journal Entries Not-dor-Profit Ledger Income Statement Balance NAME OF YOUR HOSPITAL Bane Sheet As of December 3, AETS LABLITES &NET ASSETS Liab Cu ab Accounts Payable ag P L P Crn As Ceh r A R eory A Uve Pemannty Re Fnd Asses Pa&E OTAL ASSETS TOTAL LIABLITES&NET ASSETS BalanceS Student Info Instructions Journal Entries Not-dor-Profit Ledger Income Statement NAE OF YOUR HOSPITAL Sutmof Cah s Fr Year Enng Dec n, 1 Csh Fows fromOpeningA Collections Pame Se Pa t e Payme for et Net Cash from Opering Act Ch F nvestg Aiv C oming o Paymt ofoe pinp Net CahF A NET S CAS CAS CASH END OF YEAR BalanceS Student Info nstructions Journal Entries Not-dor-Profit Ledger Income Statement She o Fl L Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital Hint: the below information is necessary for you to complete the assignment Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment 920,000 57,500 1,380,000 287,500 575,000 Assets Inventory Labor 20,000 90,000 Interest 25,000 Insurance 22,000 Expenses Depreciation 48,000 Accounts Payable Wages Payable Liabilities Mortgage Payable 815,000 110,000 990,000 Unrestricted 845,000 Temporarily Restricted 345,000 Net Assets Permanently Restricted 115,000 0 Patient Service Revenue Revenue contributions donations Revenue-non-patient services (gift shop, parking etc.) 200,000 50,000 30,000 Revenue 1-Complete the Journal Entries and Corresponding T account records that are provided to you 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginnin 3- By using the information provided to you and information that you generated in the ledger, BalanceSheet Template 4- By using the information provided to you and the information that you generated calculate y methods -Use the Depreciation template provided to you 5- By using the information provided to you and information that you generated in the ledger, p Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Deprecia 6- By using the information provided to you and information that you generated, prepare yourC of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement $70,000 worth of medical inventories were purchased. $10,000 was paid in cash and other part was paid on accou Accounts Debit Credit A Ten-year fire insurance policy was purchased from the insurance company for $55,000 Accounts Debit Credit Puchased a new MRI image machine for $ 200,000, paid $ 8,000 for transportation and paid $7000 for installme counts Debit Credit Patient discharged who used $30,000 of inventory 5. Bills are submitted to insurance companies in the amount of $80,000 for services rendered to patients Accounts Debit Credit 6.Cash payments of $100,000 are received for services previously provided and billed Accounts Debit Credit 7.Wages due to employees that had been previously recorded as a liability are now paid in cash in the amount of $15,000 Accounts Debit Credit 8. At year of end annual Mortgage payment made $25,000 principle, $50,000 interest Bone SP2019+module+/_Excel_S Wages due to employees that had been previously recorded as a liability are now paid in cash in the amount of $15,000 ounts Debit Credit . At year of end annual Mortgage payment made $25,000 principle, $50,000 interest unts Debit Credit . End of year adjustment One year insurance used: Accounts Debit Credit 10. End of year adjustment One year depreciation of CT machine purchased at the beginning of the year. Useful life for MRI machine is 5 salvage value is $30,000 Please use Double Declining Balance depreciation here. ears. Ledger Account (x1000) Expenses Assets Liabilities Net Assets Revenue Prepaid Accounts Cash Insurand Receivab inventory Equipment Accounts Wages Mortpage Payable Payatle Temporar Perman Unresrict Restricted Restricte Plant& Inventor Labod interest insurarDeprece Payable Revenue ning alance 1Purchasing inventory 2 Purchasing insurance SPurchasing equipment 4 inventory out 6 Revenue 6 Collectons 7Wage paymen 8 Mortgage payment 9 Insurance adusment |10. Depreciation N g Balace NAME OF YOUR HOSPIAL Operating Statement For the Year Ending December 31, 2018 Revenues Less Expenses Inventory Interest Insurance Depreciation NET INCOME I I NAME OF YOUR HOSPITAL Balance Sheet As of December 31, 2018 LIABILITIES& NET ASSETS ASSETS Liabilities Current Assets Current liabilities Cash Accounts Payable Wages Payable Long-term liabilities Mortgage Payable Prepaid Insurance Accounts Receivable Inventory Total Liabilities Net Assets Fixed Assets Unrestricted Plant & Equipment Temporarily Restricted Permanently Restricted Total Net Assets TOTAL ASSETS TOTAL LIABILITIES & NET ASSETS NAME OF YOUR HOSPITAL Statement of Cash Flows For the Year Ending December 31, 2018 Cash Flows from Operating Activities Collections Payments to Sellers Payments to Employees Payments for Insurance Payments for Interest Net Cash from Operating Activities Cash Flows from Investing Activities Purchase of New Equipment Net Cash Used for Investing Activities Cash Flows from Financing Activities Payment of mortgage principal Net Cash from Financing Activities NET INCREASE/(DECREASE) IN CASH CASH,BEGINNING OF YEAR CASH, END OF YEAR Not-for-Profit Ledger Student Info Instructions Journal Entries Income Statement BalanceShe Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital. Hint: the below information is necessary for you to complete the assignment Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment 920,000 57,500 1,380,000 287,500 575,000 Assets Inventory Labor Interest Insurance 20,000 90,000 25,000 22,000 Expenses Depreciation 48,000 Accounts Payable Wages Payable Liabilities Mortgage Payable 815.000 110,000 990,000 C Unrestricted 845,000 Temporanly Restricted 345,000 Net Assets Permanently Restricted 115.000 Patient Service Revenue Revenue contributions donations Revenue- non-patient services (gft shop, parking etc.) 200,000 50,000 Revenue 30,000 1-Complete the Journal Entries and Corresponding T account records that are provided to you in "Journal Entries" woksheet 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginning and ending balances 3- By using the information provided to you and information that you generated in the ledger, prepare your balancesheet as of December 31 2018 by utilizing the BalanceSheet Template 4- By using the information provided to you and the information that you generated calculate your depreciation expense by using 3 different methods of depreciation methods Use the Depreciation template provided to you 5-By using the information provided to you and information that you generated in the ledger, prepare your income Statement as of December 31 2018 by utilizing the Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Depreciation calculation E- By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2018 by utilizing the Statement of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement BalanceShe Not-for-Profit Ledger Student Info Instructions Journal Entries Income Statement w Cape M BalanceShe Instructions Student Info Journal Entries Not-for-Proft Ledger Income Statement Ledger Account 00 BalanceSheet Template Notdor-Prot Ledger Income Statement CashFlow Statement Degrecia Ledger Account 1000 BalanceS Not-4or-Proft Ledger Student Info Instructions Journal Entries Income Statement NAME OF YOUR HOSPAL Operating Sm Forteer Enng 3, 20 Reveues Le Espense ivenory insucane Deprecon NETINOOME Student Info Instructions Journal Entries Not-dor-Profit Ledger Income Statement Balance NAME OF YOUR HOSPITAL Bane Sheet As of December 3, AETS LABLITES &NET ASSETS Liab Cu ab Accounts Payable ag P L P Crn As Ceh r A R eory A Uve Pemannty Re Fnd Asses Pa&E OTAL ASSETS TOTAL LIABLITES&NET ASSETS BalanceS Student Info Instructions Journal Entries Not-dor-Profit Ledger Income Statement NAE OF YOUR HOSPITAL Sutmof Cah s Fr Year Enng Dec n, 1 Csh Fows fromOpeningA Collections Pame Se Pa t e Payme for et Net Cash from Opering Act Ch F nvestg Aiv C oming o Paymt ofoe pinp Net CahF A NET S CAS CAS CASH END OF YEAR BalanceS Student Info nstructions Journal Entries Not-dor-Profit Ledger Income Statement She o Fl L Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital Hint: the below information is necessary for you to complete the assignment Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment 920,000 57,500 1,380,000 287,500 575,000 Assets Inventory Labor 20,000 90,000 Interest 25,000 Insurance 22,000 Expenses Depreciation 48,000 Accounts Payable Wages Payable Liabilities Mortgage Payable 815,000 110,000 990,000 Unrestricted 845,000 Temporarily Restricted 345,000 Net Assets Permanently Restricted 115,000 0 Patient Service Revenue Revenue contributions donations Revenue-non-patient services (gift shop, parking etc.) 200,000 50,000 30,000 Revenue 1-Complete the Journal Entries and Corresponding T account records that are provided to you 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginnin 3- By using the information provided to you and information that you generated in the ledger, BalanceSheet Template 4- By using the information provided to you and the information that you generated calculate y methods -Use the Depreciation template provided to you 5- By using the information provided to you and information that you generated in the ledger, p Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Deprecia 6- By using the information provided to you and information that you generated, prepare yourC of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement $70,000 worth of medical inventories were purchased. $10,000 was paid in cash and other part was paid on accou Accounts Debit Credit A Ten-year fire insurance policy was purchased from the insurance company for $55,000 Accounts Debit Credit Puchased a new MRI image machine for $ 200,000, paid $ 8,000 for transportation and paid $7000 for installme counts Debit Credit Patient discharged who used $30,000 of inventory 5. Bills are submitted to insurance companies in the amount of $80,000 for services rendered to patients Accounts Debit Credit 6.Cash payments of $100,000 are received for services previously provided and billed Accounts Debit Credit 7.Wages due to employees that had been previously recorded as a liability are now paid in cash in the amount of $15,000 Accounts Debit Credit 8. At year of end annual Mortgage payment made $25,000 principle, $50,000 interest Bone SP2019+module+/_Excel_S Wages due to employees that had been previously recorded as a liability are now paid in cash in the amount of $15,000 ounts Debit Credit . At year of end annual Mortgage payment made $25,000 principle, $50,000 interest unts Debit Credit . End of year adjustment One year insurance used: Accounts Debit Credit 10. End of year adjustment One year depreciation of CT machine purchased at the beginning of the year. Useful life for MRI machine is 5 salvage value is $30,000 Please use Double Declining Balance depreciation here. ears. Ledger Account (x1000) Expenses Assets Liabilities Net Assets Revenue Prepaid Accounts Cash Insurand Receivab inventory Equipment Accounts Wages Mortpage Payable Payatle Temporar Perman Unresrict Restricted Restricte Plant& Inventor Labod interest insurarDeprece Payable Revenue ning alance 1Purchasing inventory 2 Purchasing insurance SPurchasing equipment 4 inventory out 6 Revenue 6 Collectons 7Wage paymen 8 Mortgage payment 9 Insurance adusment |10. Depreciation N g Balace NAME OF YOUR HOSPIAL Operating Statement For the Year Ending December 31, 2018 Revenues Less Expenses Inventory Interest Insurance Depreciation NET INCOME I I NAME OF YOUR HOSPITAL Balance Sheet As of December 31, 2018 LIABILITIES& NET ASSETS ASSETS Liabilities Current Assets Current liabilities Cash Accounts Payable Wages Payable Long-term liabilities Mortgage Payable Prepaid Insurance Accounts Receivable Inventory Total Liabilities Net Assets Fixed Assets Unrestricted Plant & Equipment Temporarily Restricted Permanently Restricted Total Net Assets TOTAL ASSETS TOTAL LIABILITIES & NET ASSETS NAME OF YOUR HOSPITAL Statement of Cash Flows For the Year Ending December 31, 2018 Cash Flows from Operating Activities Collections Payments to Sellers Payments to Employees Payments for Insurance Payments for Interest Net Cash from Operating Activities Cash Flows from Investing Activities Purchase of New Equipment Net Cash Used for Investing Activities Cash Flows from Financing Activities Payment of mortgage principal Net Cash from Financing Activities NET INCREASE/(DECREASE) IN CASH CASH,BEGINNING OF YEAR CASH, END OF YEAR