Question
Prepare an income statement based on the following accounts. Not all accounts listed are relevant to the successful completion of this problem. You may complete
Prepare an income statement based on the following accounts. Not all accounts listed are relevant to the successful completion of this problem. You may complete this problem in Excel and cut and paste it to this exam.
Cash | $5,400,000.00 |
Patient Service revenue | $3,500,000.00 |
Patient Receivable | $1,600,000.00 |
Premium Revenue | $ 75,000.00 |
Supplies | $ 45,000.00 |
Supply Expense | $ 50,000.00 |
Prepaid Insurance | $ 85,000.00 |
Insurance Expense | $ 700,000.00 |
Depreciation Expense | $ 120,000.00 |
Salary Expense | $ 345,000.00 |
Salary Payable | $ 268,000.00 |
Step by Step Solution
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There are 3 Steps involved in it
Step: 1
Income Statement for the year ending 31st December 2021 Patie...
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Financial Management Core Concepts
Authors: Raymond M Brooks
2nd edition
132671034, 978-0132671033
