MMHA6400 Walden Week 7 Developing Financial & Cash Flow Statement

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pbyrurneg08

Health Medical

Description

Review the Week 7 Assignment document provided to you by the Instructor. Examine the data from the medical center described in the document. Reflect on how you will use this data to develop a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets). Refer to the course text for additional guidance.

The Assignment:

Complete a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets) using the “Week 7 Financial Statement Excel Template”.

Unformatted Attachment Preview

Balance Sheet (in '000s) For the Year Ended September 30, 2016 9/30/2016 Current assets Cash and cash equivalents Net accounts receivable Inventory Total current assets Gross plant, property, and equipment (less accumulated depreciation) Net plant, property & equipment Long-term investments Total assets $0 Current liabilities Accounts payable Wages payable Total current liabilities Long-term debt Total liabilities Net assets Ending balance, unrestricted net assets Ending balance, temporarily restricted net assets Total net assets Total liabilities and net assets $0 Profit and Loss Statement Statement of Operations (in '000s) For the Year Ended September 30, 2016 9/30/2016 Unrestricted revenues Patient revenues (net of contractuals) Provision for bad debt expense Net patient revenues Net assets released from temporary restriction Total revenues Operating expenses: Labor expense General expense Supply expense Depreciation expense Interest expense Total operating expenses Excess of revenues over expenses Transfer to parent corporation Increase in unrestricted net assets $0 Cash Flow Statement Statement of Changes in Net Assets (in '000s) For the Year Ended September 30, 2016 9/30/2016 Unrestricted net assets Excess of revenues over expenses Unrestricted contributions Transfer to parent corporation Change in unrestricted net assets Temporarily restricted net assets Net assets released from temporary restriction Change in temporarily restricted net assets 0 0 0 Permanently restricted net assets Change in permanently restricted net assets Increase in net assets Beginning balance, net assets Ending balance, total net assets 0 0 0 $0
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Explanation & Answer

Attached.

Sharpe Medical Center
Balance Sheet (in '000s)
For the Year Ended September 30, 2016
9/30/2016
Current assets
Cash and cash equivalents
Net accounts receivable
Inventory
Total current assets

$18,000
85,000
4,000
107,000

Gross plant, property, and equipment
(less accumulated depreciation)
Net plant, property & equipment
Long-term investments

375,000
22,000
353,000
20,000

Total assets

$480,000

Current liabilities
Accou...


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