Question: Givens Cash and temporary investments $300,000 Acc...

Givens Cash $5,500

Accounts receivable $60,000

Allowance for uncollectibles $4,500

Supplies $13,000

Property and equipment 880,000

Long term debt 680,000

Long term investments 42,000

Accumulated depreciation 90,000

short term Accounts payable 42,000

Other current liabilities 3,000

Unrestricted net assets 169,000

Permanently restricted net assets 12,000 List and record each 20X1 transaction under the accrual basis of accounting. Then develop a balance sheet as of December 31, 20X1 and 20X0 and a statement of operations for the year ended December 31, 20X1.

A. The center purchased $4,000 of supplies on credit.

b. the center provided $430,000 of home health services on credit

c. the center consumed $9,000 on supplies inthe provision of its home and health services

d. The center provided 250,000 of home health services and patients paid for services in cash

e. the center paid cash for $5,500 of supplies in the provision of its home health services

f. the center paid 24,000 in cahs for supplies previously purchased on credit

g. a donor established a $87,000 permanent endowment fund (in the form of long term investments) for the center. (Hint: the transactionincreases the permanently restrictred net assets account)

h. the center collected $250,000 from patients for outstanding receivables

i. the center paid $300,00 in cash towards labor expense.

j. the center paid $90,000 in cash toward its long term loan.

k. the center purchased 35,000 in small equipment on credit. the amout is due within 1 year.

l. the cernter incurred $40,000 in general expenses. the center used cash to pay for the general expenses

m. The center incurred $8,000 in interest expense for the year. A cash payment of $8,000 was made to the bank.

n. tthhe center made a $9,000 cash transfer to its a parent corporation.

o. The center recognized labor expense of $4,500 but does not incur a cash payment.

p. The center recognized depreciation expenses of 20,000

q. The center estimated it would not collect $85,000 of the patient accounts receivable, and established a provision for bad debt.