Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is Megatropolis Hospitals days in accounts receivable? (please explain where answer care from) Megatropolis Hospital Statement of Operations For the Year Ended December 31,

What is Megatropolis Hospitals days in accounts receivable? (please explain where answer care from) Megatropolis Hospital Statement of Operations For the Year Ended December 31, 2011 Revenues, Gains, Other Support Net patient service revenue $ 1,500,000 Other revenue 200,000 Total Revenue 1,700,000 Expenses Nursing Services 1,200,000 Administrative Services 200,000 Depreciation 100,000 Other Expenses 50,000 Total Expenses 1,550,000 Operating Income 150,000 Investment Income 50,000 Excess of revenues over expenses 200,000 Increase in Unrestricted Net Assets$ 200,000 Megatropolis Hospital Balance Sheet As of December 31, 2011 (2010 omitted) Assets Current Assets Cash and cash equivalents $ 50,000 Net patient receivables 350,000 Total Current Assets 400,000 Properties and Equipment Gross properties and equipment $ 900,000 Less accumulated depreciation 475,000 Net Properties and Equipment 425,000 Total Assets $ 825,000 Liabilities and Net Assets Current Liabilities Accounts Payable 200,000 Salaries Payable 50,000 Total Current Liabilities 250,000 Notes Payable 200,000 Unrestricted Net Assets 375,000 Total Liabilities and Net Assets$ 825,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Employee Motivation Audit

Authors: Jane Weightman

1st Edition

0955970709, 978-0955970702

More Books

Students also viewed these Accounting questions