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Prepare a statement of revenue and expense for the two years ending 2022 and 2021 Not all accounts may be used in this problem 2022
Prepare a statement of revenue and expense for the two years ending 2022 and 2021 | |||||||
Not all accounts may be used in this problem | |||||||
2022 | 2021 | ||||||
Cash | $2,500,000.00 | $2,100,000.00 | |||||
Patient Revenue | $7,500,000.00 | $6,100,000.00 | |||||
Accounts Receivable | $521,000.00 | $437,000.00 | |||||
Medical Services Expense | 480,000.00 | $345,000.00 | |||||
Accounts Payable | $1,900,000.00 | $1,500,000.00 | |||||
Therapy Services Expense | $321,000.00 | $279,000.00 | |||||
Support Services Expense | $410,000.00 | $376,000.00 | |||||
Depreciation Expense | $100,000.00 | $100,000.00 | |||||
Long Term Debt | $500,000.00 | $475,000.00 | |||||
Interest Expense | $35,000.00 | $21,000.00 | |||||
Interest Income | $50,000.00 | $32,000.00 |
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