san mateo health care inc statement of cash flows

Data for San Mateo Health Care for January are provided in Problems 3-1, 3-2, and 3-3.

Instructions:

1. Prepare a statement of cash flows for January.

2. Reconcile the net cash flows from operating activities with the net income for January.

Data from Problem 3-1:

San Mateo Health Care Inc. is owned and operated by Rachel Fields, the sole stockholder. During January 20Y6, San Mateo Health Care entered into the following transactions:

Jan. 1 Received $27,000 from Hillard Company as rent for the use of a vacant office in San Mateo Health Cares building. Hillard paid the rent nine months in advance.

1 Paid $6,000 for a one-year general insurance business policy.

6 Purchased supplies of $1,800 on account.

9 Collected $32,000 for services provided to customers on account.

11 Paid creditors $5,000 on account.

18 Invested an additional $10,000 in the business in exchange for common stock.

20 Billed patients $52,000 for services provided on account.

25 Received $15,000 for services provided to customers who paid cash.

30 Paid expenses as follows: wages, $31,000; utilities, $8,500; rent on medical equipment, $5,300; interest, $200; and miscellaneous, $3,000.

30 Paid dividends of $8,000 to stockholder (Dr. Fields).

Instructions:

Analyze and record the January transactions for San Mateo Health Care Inc., using the integrated nancial statement framework. Record each transaction by date, and show the balance for each item after each transaction. The January 1, 20Y6, balances for the balance sheet are shown below.

Data from Problem 3-2:

Adjustment data for San Mateo Health Care Inc. for January are as follows:

1. Insurance expired, $900.

2. Supplies on hand on January 31, $1,200.

3. Depreciation on building, $2,300.

4. Une

arned rent revenue earned, $3,000.

5. Wages owed employees but not paid, $2,900.

6. Services provided but not billed to patients, $5,000.

Instructions:

Based on the transactions recorded in January for Problem 3-1, record the adjustments for January using the integrated nancial statement framework.

Data from Problem 3-3:

Data for San Mateo Health Care for January are provided in Problems 3-1 and 3-2.

Instructions:

Prepare an income statement, statement of stockholders equity, and a classied balance sheet for January. The note payable is due in ten years.

IGOR JTIUNIE WUIRICI ebook Calculator Instructions: 1. Prepare a statement of cash flows for January. Use the minus sign to indicate cash out flows, decre San Mateo Health Care Inc. Statement of Cash Flows For the Month Ended January 31, 2016 Cash flows from operating activities: Cash received from customers 72,000 Cash paid for expenses -48,900 Net cash flows from operating activities 15,000 Cash flows from investing activities Cash flows from financing activities: Cash received from issuance of stock 10,000 -8.000 Dividends paid Net cash flows from financing activities 2,000 17,000 Net increase in cash v January 1, 2046, cash balance v 20.000 January 31, 2016, cash balance 37.000 2. Reconcile the net cash flows from operating activities with the net income for January. Use the mi and decreases in accounts.) San Mateo Health Care Inc. Net Cash Flows from Operating Activities 19,100 Net income Depreciation expense v Changes in noncash current operating assets and liabilities: Increase in accounts receivable $ 2,300 104,000 -5,100 Decrease in accounts payable -3,200 Increase in unearned revenue 24,000 Increase in wages payable 2,900 37,000 $ 37,000 x Net cash flows from operating activities Feedback Check My Won Remember that the indirect method of preparing the statement of cash flows begins with the ne ach in der Gren