Question
Please note: This question may look like other similar questions but it is completely different ! Please complete the items listed at the end. 10.
Please note: This question may look like other similar questions but it is completely different! Please complete the items listed at the end.
10. During the year, Oak Street Clinic purchased equipment costing $100,000 for cash
Complete the following items:
a. Worksheet for the Year Ended December 31, 2020
b. Operating Statement for the Year Ended December 31, 2020
c. Balance Sheets for the Years Ended December 31, 2020 and 2019
d. Statement of Cash Flows for the Year Ended December 21, 2020
Please use accounting number format with no cents (100 not 100.00) and $ where appropriate.
Thank you
4.9. Oak Street Clinic, a not-for-profit, began 2020 with the following account balances on January 1: Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Notes payable Net assets $ 70,000 227,000 24,000 1,500,000 300,000 21,000 500,000 1,000,000 During 2020, the accounting clerk recorded the following transactions: 1. Billed patients for services rendered 2. Purchased medical supplies on credit 3. Employee salaries earned 4. Employee salaries paid 5. Annual depreciation on equipment $1,700,000 12,000 712,000 683,000 150,000 6. Received a bank loan 7. Cash collections on patient billings 8. Made payment on bank loan 9. Used medical supplies in patient care 250,000 1,124,000 75,000 10,000Step by Step Solution
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