Using the Ending Balances data for each account and the basic models for a Balance Sheet and Income Statement as provided below:

a. Prepare the Physician's Clinic Balance Sheet for March 31, 20xx b. Prepare the Physician's Clinic Income Statement for March 1 - 31, 20xx

PHYSICIAN'S CLINIC ENDING BALANCES OF ACCOUNTS MARCH 1-31, 20xx

Debit Credit

Cash 30,750 Inventory 5,200 Accounts Receivable 16,450 Equipment 16,000

Supply Expense 31,200 S & W Expense 82,400 Utilities Expense 8,700 Insurance Expense 2,900 Repairs Expense 1,600 Other Expense 7,300

Accounts Payable 1,700 Loan Payable 15,000

Net Assets 50,000

Patient Service Revenue 122,200 Other Operations Revenue 13,600

TOTAL $202,500 = $202,500

PHYSICIAN'S CLINIC BALANCE SHEET March 20xx

ASSETS

Current Assets

Cash _________

A/R _________

minus allowances and un-collectibles ($500) 500______

Net AR _________

Inventory _________

Total Current Assets _________

Plant, Property & Equipment _________

Other Assets 0

Total Assets ___________

EQUITIES

Current Liabilities

A/P __________

Loan Payable __________

Total Current Liabilities _________

Long-Term Debt 0

Total Liabilities ___________

Net Assets ___________

Total Liabilities and Net Assets ____________

PHYSICIAN'S CLINIC INCOME STATEMENT MARCH 1 - 31, 20xx

OPERATING REVENUE

Patient Services Revenue _________

Minus allowances and uncollectables______500

Net Patient Services Revenue _________

Other Operating Revenue _________

Total Operating Revenue __________

OPERATING EXPENSES

Supply Expense __________

S & W Expense __________

Utilities Expense __________

Insurance Expense __________

Repairs Expense __________

Other Expenses __________

Total Operating Expenses _____________

Net Operating Income (Excess of Revenue over Expenses) _____________