Question
SLO Health Care Inc. is owned and operated by Morgan Denby, the sole stockholder. During January 20Y6, SLO Health Care entered into the following transactions:
SLO Health Care Inc. is owned and operated by Morgan Denby, the sole stockholder. During January 20Y6, SLO Health Care entered into the following transactions:
During January 20Y6, San Mateo Health Care entered into the following transactions:
Jan. 1 | Received $13,500 from Glenn Company as rent for the use of a vacant office in SLO Health Care's building. Glenn paid the rent nine months in advance. | ||
1 | Paid $3,000 for a one-year general insurance business policy. | ||
6 | Purchased supplies of $900 on account. | ||
9 | Collected $16,000 for services provided to customers on account. | ||
11 | Paid creditors $2,500 on account. | ||
18 | Invested an additional $5,000 in the business in exchange for common stock. | ||
20 | Billed patients $26,000 for services provided on account. | ||
25 | Received $7,500 for services provided to customers who paid cash. | ||
30 | Paid expenses as follows: wages, $15,500 utilities, $4,250 rent on medical equipment, $2,650 interest, $100 and miscellaneous, $1,500. | ||
30 | Paid dividends of $4,000 to stockholder (Dr. Denby). |
Adjustment data for SLO Health Care Inc. for January are as follows:
- Insurance expired, $450.
- Supplies on hand on January 31, $600.
- Depreciation on building, $1,150.
- Unearned rent revenue earned, $1,500.
- Wages owed employees but not paid, $1,450.
- Services provided but not billed to patients, $2,500.
Presented in the integrated financial statement format are after-adjustment balances for January.
Create a statement of cash flows for January. Use the minus sign to indicate cash outflows, decreases in cash, or cash payments. If your answer is zero enter "0".
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