19. Multiple statements. The following are account balances (in thousands) for Lima Health Plan. Prepare (a)...

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19. Multiple statements. The following are account balances (in thousands) for Lima Health Plan. Prepare (a) a balance sheet and (b) an income statement for the year ended December 31, 20X0. Givens (in '000s) Income tax benefit of operating loss He $12,000 Net property and equipment Physician services expense Premium revenue Marketing expense Compensation expense $3,000 $244,000 $225,000 $21,000 $15,000 Interest income and other revenue $9,000 Outside referral expense $7,000 Medicare revenue $160,000 Occupancy and depreciation expense $1,000 Medical claims payable $57,000 Accounts receivable $1,500 Emergency room expense Inpatient services expense Interest expense $24,000 $191,000 $1,000 Medicaid revenue Stockholders' equity Cash and cash equivalents Long-term debt Other administrative expense $55,000 $71,700 $127,000 $2,800 $1,400 19. Multiple statements. The following are account balances (in thousands) for Lima Health Plan. Prepare (a) a balance sheet and (b) an income statement for the year ended December 31, 20X0. Givens (in '000s) Income tax benefit of operating loss He $12,000 Net property and equipment Physician services expense Premium revenue Marketing expense Compensation expense $3,000 $244,000 $225,000 $21,000 $15,000 Interest income and other revenue $9,000 Outside referral expense $7,000 Medicare revenue $160,000 Occupancy and depreciation expense $1,000 Medical claims payable $57,000 Accounts receivable $1,500 Emergency room expense Inpatient services expense Interest expense $24,000 $191,000 $1,000 Medicaid revenue Stockholders' equity Cash and cash equivalents Long-term debt Other administrative expense $55,000 $71,700 $127,000 $2,800 $1,400

Answer rating: 100% (QA)

SOLUTION a Balance Sheet LIMA HEALTH PLAN BALANCE SHEET AS OF DECEMBER 31 20X0 IN THOUSANDS ASSETS L... View the full answer