Question
The following are account balances (in thousands) on September 30, 20x1, for Marview medical center. Prepare(a) a balance sheet (b) a statement of operations, and
The following are account balances (in thousands) on September 30, 20x1, for Marview medical center. Prepare(a) a balance sheet (b) a statement of operations, and (c) a statement of changes in net assets for September 30, 20x1. Givens (in 000s).
Administrative Expense | $35,000 |
Depreciative Expense | $33,000 |
Cash- | $42,000 |
General Expense | $85,000 |
Patient Revenue (net of contractual) | $555,000 |
Transfer to patient corporation | $7,000 |
Gross Accounts Receivable- | $53,000 |
Beginning Balance, unrestricted net assets- | $155,600 |
Ending Balance, temporarily restricted net assets- | $5,000 |
Accounts Payable | $24,000 |
Wages payable | $14,000 |
Beginning balance, temporarily restricted net assets | $13,000 |
Prepaid Expenses | $8,000 |
Provision for bad debt expense | $6,500 |
Long-Term bad debt | $482,300 |
Labor Expense | $144,000 |
Supply Expense | $61,000 |
Accumulated depreciation | $100,000 |
Gross plant, property, and equipment- | $666,000 |
Ending/Beginning balance, permanently restricted net assets- | $11,000 |
Net assets released from restriction for operations- | $8,000 |
Ending balance, unrestricted net assets- | $356,300 |
Uncollectible in accounts receivable- | $5,000 |
Accrued expenses- | $4,100 |
Inventory- | $9,000 |
Temporary investments- | $9,200 |
Premium revenue- | $6,200 |
Other revenue- | $3,000 |
Long-term investments, unrestricted- | $222,000 |
Current portion of long-term debt- | $1,500 |
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