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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