Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part (I) Please help in creating a balance sheet with the following information Account Current Year Prior Year Cash 3,422,928 3,773,862 Balance sheet Accrued compensation

Part (I)

Please help in creating a balance sheet with the following information

Account Current Year Prior Year

Cash 3,422,928 3,773,862 Balance sheet

Accrued compensation and related liabilities 4,248,791 2,656,831 Balance sheet

Accounts and notes receivable 52,966,361 48,883,616 Balance sheet

Prepaid expenses and other current assets 13,956 33,094 Balance sheet

Inventory 1,461,138 1,397,898 Balance sheet

Accounts payable 2,080,892 2,657,082 Balance sheet

Payable to thirdparty payors 400,083 321,196 Balance sheet

Notes and loans payable 5,142,900 Balance sheet

Other deferred credits 40,598 Balance sheet

Intercompany payables 782 7,210 Balance sheet

Bonds payable 7,040,952 8,539,836 Balance sheet

Pledges and other receivables 7,043,254 1,386,264 Balance sheet

Construction in progress 1,400,434 2,032,344 Balance sheet

Equipment 27,614,701 24,861,028 Balance sheet

Land improvements 4,284,122 4,284,122 Balance sheet

Unrestricted Fund Balance 35,632,865 28,111,550 Balance sheet

Buildings and Improvements 38,658,121 35,224,180 Balance sheet

Limited use investments 5,142,901 Balance sheet

Less allowance for uncollectible receivables and thirdparty contractual withholds -39,086,187 -35,376,597 Balance sheet

Intercompany receivables 25,257 6,478 Balance sheet

Other noncurrent liabilities 316,402 290,393 Balance sheet

Other accrued expenses 232,581 269,772 Balance sheets More information from my professor

Less accumulated depreciation & amortization (balance sheet)

($47,637,321)

($44,137,099)

Part two.

Answer the following question

image text in transcribed
1. Analyzing Financial Statements LOI Companies communicate a great deal of infor- mation in their financial statements. Analyzing the statements is a critical step in understanding companies' operations and performance. The fol- lowing statements relate to the analysis of financial statements. a. The use of generally accepted accounting prin- ciples eliminates variability in financial reporting by different companies so that financial state- ment analysis is easier to perform. b. Financial statement analysis can be useful for predicting a company's future financial performance. c. Decision makers should use a variety of financial statement ratios, rather than a single ratio, if they wish to understand a company. d. One important tool to use in analyzing a set of financial statements is industry comparisons. e. Inflation should be ignored in conducting finan- cial statement analysis. Required Indicate whether each of the preceding statements is true or false

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_2

Step: 3

blur-text-image_3

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

College Accounting A Practical Approach

Authors: Jeffrey Slater, Mike Deschamps

14th Edition

0134729315, 978-0134729312

More Books

Students also viewed these Accounting questions

Question

Describe the biobehavioral therapy used by Dr. Sorkin.

Answered: 1 week ago

Question

Question 4 of 6 Question 6 C Attempt "ded the data s '730m Cmt o'

Answered: 1 week ago

Question

2. In what way can we say that method affects the result we get?

Answered: 1 week ago