Payment or Expense Item Wages depreciation of insurance adjustment Principle payment A patient discharged Interest payment Related accounts Wages Payable Depreciation Expense Insurance Expense Mortgage Payable Inventory Expense Interest Expense Purchasing Item Ambulance MR Machine CT Scan Inventory Medical Device Medicine Chemical Products Building Computer Fire Insurance Malpractice Insurance Bond Short-term Bank Credit Mortgage Marketable Securities Land Goodwill Related accounts Buildings and Equipment Buildings and Equipment Buildings and Equipment Inventory Buildings and Equipment Inventories Inventories Buildings and Equipment Buildings and Equipment Prepaid Insurance Prepaid Insurance Bond Payable Accounts Payable Mortgage Payable Marketable Securities Land Goodwill Depreciation method Straight Line Depreciation Double Balancing Depreciation Sum of Years Depreciation $13,000 $30,000 $23,636 Revenue item Bills are submitted to insurance companies a pledge of you received Related accounts Patient Service Revenue Pledge Receivable Revenue - Contributions Purchasing or Payment method Cash Credit Inventory services rendered to patients previously provided and billed insurance used cash is received Related accounts Cash Account Payable Inventory Accounts Receivable Accounts Receivable Prepaid Insurance Cash Below you are provided Ending Balances from 2020 financial statements for your not-for-profit hospital Hint: The below information is necessary for you to complete the assignment Cash 125,000 Prepaid Insurance 10,000 Accounts Receivable Assets 170,000 Inventory 165,000 Plant & Equipment 275,000 Pledge Receivable 5,000 Inventory 35,000 Labor 75,000 Expenses Interest 7,500 Insurance 15,000 Depreciation 10.000 Accounts Payable 125,000 Liabilities Wages Payable 165,000 Mortgage Payable 60,000 Unrestricted 200,000 125,000 Net Assets Temporarily Restricted Permanently Restricted 75.000 Patient Service Revenue 100.000 32,500 Revenue Revenue - contributions donations 10,000 Revenue-non-patient services (gift shop, parking etc) 1- Complete the Journal Entries and Corresponding Taccount 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 balance sheet as of December 31 2020 by utilizing the Balance Sheet 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 Incor Statement as of December 31 2020 by utilizing the Income Statement Template Hint in your income statement use the numbers from your Straight Line Depreciation calculation 6. By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2020. by utilizing the Statemen of the Cash Flow Template. Hint. Please use the direct method for your Cash Flow Statement Journal Entries These are the transactions that took place during Fiscal Year 2020 Create a journal entry and at Account entry for each of the following transactions 1 $150,000.00 worth of MR Machine is purchased with Cash Debit Accounts Buildings and Equipment Cash Credit $55,000.00 worth of Inventory purchased by Cash Debit Credit Accounts Inventory Cash $25.000 Fire Insurance is purchased by Cash Debit Credit Accounts Prepaid urance Cash 4 Wages due to employees that had beed previously recorded Abily are now paid in Cash 3180.000 Debt Credit Accounts Wapas Payable C Apient discharged we used 5125.000 worth of tvo De Cru Account Inventory Expanse Inventory 1500.000 in Porto Bemed to insurance comes re Den Cred Account For ad and 7 $250.000 Dean C Ae > items Student Info Instructions Journal Entries Not-for-Profit Ledger Balance Shed Andacht whe 5125.000 worth Account Det C Inventory 3500.000 Cede Accounts ACources Patent Service Revue 7 250.000 vided and bad Account Accounce Cash Byear and are made by Principe payment 2.000 180 DOO De Cr Auto Der Cash > Edly Det M MR. Oreyes These 10 000 De 110 11 se A PM 14 To Do Notifications Calendar Instructions Journal Entries Not-for-Profit Ledger Balance Sheet Template Income Stat sured w Tour Building and comment Cash Cree spurty C In Ca ty Car Det Cro Cred D Cr To Do Notifications 0] Inbox 62! Fall_2021_MRA_L_Assignment_questions.xls dent Info Instructions Journal Entries Not-for-Profit Ledger Balance Sheet Template Income Statement Cashf De C D endor To Do Notifications Inbox Payment or Expense Item Wages depreciation of insurance adjustment Principle payment A patient discharged Interest payment Related accounts Wages Payable Depreciation Expense Insurance Expense Mortgage Payable Inventory Expense Interest Expense Purchasing Item Ambulance MR Machine CT Scan Inventory Medical Device Medicine Chemical Products Building Computer Fire Insurance Malpractice Insurance Bond Short-term Bank Credit Mortgage Marketable Securities Land Goodwill Related accounts Buildings and Equipment Buildings and Equipment Buildings and Equipment Inventory Buildings and Equipment Inventories Inventories Buildings and Equipment Buildings and Equipment Prepaid Insurance Prepaid Insurance Bond Payable Accounts Payable Mortgage Payable Marketable Securities Land Goodwill Depreciation method Straight Line Depreciation Double Balancing Depreciation Sum of Years Depreciation $13,000 $30,000 $23,636 Revenue item Bills are submitted to insurance companies a pledge of you received Related accounts Patient Service Revenue Pledge Receivable Revenue - Contributions Purchasing or Payment method Cash Credit Inventory services rendered to patients previously provided and billed insurance used cash is received Related accounts Cash Account Payable Inventory Accounts Receivable Accounts Receivable Prepaid Insurance Cash Below you are provided Ending Balances from 2020 financial statements for your not-for-profit hospital Hint: The below information is necessary for you to complete the assignment Cash 125,000 Prepaid Insurance 10,000 Accounts Receivable Assets 170,000 Inventory 165,000 Plant & Equipment 275,000 Pledge Receivable 5,000 Inventory 35,000 Labor 75,000 Expenses Interest 7,500 Insurance 15,000 Depreciation 10.000 Accounts Payable 125,000 Liabilities Wages Payable 165,000 Mortgage Payable 60,000 Unrestricted 200,000 125,000 Net Assets Temporarily Restricted Permanently Restricted 75.000 Patient Service Revenue 100.000 32,500 Revenue Revenue - contributions donations 10,000 Revenue-non-patient services (gift shop, parking etc) 1- Complete the Journal Entries and Corresponding Taccount 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 balance sheet as of December 31 2020 by utilizing the Balance Sheet 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 Incor Statement as of December 31 2020 by utilizing the Income Statement Template Hint in your income statement use the numbers from your Straight Line Depreciation calculation 6. By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2020. by utilizing the Statemen of the Cash Flow Template. Hint. Please use the direct method for your Cash Flow Statement Journal Entries These are the transactions that took place during Fiscal Year 2020 Create a journal entry and at Account entry for each of the following transactions 1 $150,000.00 worth of MR Machine is purchased with Cash Debit Accounts Buildings and Equipment Cash Credit $55,000.00 worth of Inventory purchased by Cash Debit Credit Accounts Inventory Cash $25.000 Fire Insurance is purchased by Cash Debit Credit Accounts Prepaid urance Cash 4 Wages due to employees that had beed previously recorded Abily are now paid in Cash 3180.000 Debt Credit Accounts Wapas Payable C Apient discharged we used 5125.000 worth of tvo De Cru Account Inventory Expanse Inventory 1500.000 in Porto Bemed to insurance comes re Den Cred Account For ad and 7 $250.000 Dean C Ae > items Student Info Instructions Journal Entries Not-for-Profit Ledger Balance Shed Andacht whe 5125.000 worth Account Det C Inventory 3500.000 Cede Accounts ACources Patent Service Revue 7 250.000 vided and bad Account Accounce Cash Byear and are made by Principe payment 2.000 180 DOO De Cr Auto Der Cash > Edly Det M MR. Oreyes These 10 000 De 110 11 se A PM 14 To Do Notifications Calendar Instructions Journal Entries Not-for-Profit Ledger Balance Sheet Template Income Stat sured w Tour Building and comment Cash Cree spurty C In Ca ty Car Det Cro Cred D Cr To Do Notifications 0] Inbox 62! Fall_2021_MRA_L_Assignment_questions.xls dent Info Instructions Journal Entries Not-for-Profit Ledger Balance Sheet Template Income Statement Cashf De C D endor To Do Notifications Inbox