Question: CHAPTER 13, PROBLEM 13.4 home / study / business / accounting / questions and answers / BESTCARE HMO STATMENT OF OPERATIONS AND CHANGE ... Question

CHAPTER 13, PROBLEM 13.4

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Question: BESTCARE HMO STATMENT OF OPERATIONS AND CHANGE IN ...

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BESTCARE HMO

STATMENT OF OPERATIONS AND CHANGE IN NET ASSETS

YEAR ENDED JUNE 30,2012

(IN THOUSANDS)

REVENUE

PREMIUMS EARNED $26,682

COINSURANCE 1,689

INTEREST AND OTHER INCOME 242

TOTAL REVENUE $28,613

EXPENSES:

SALARIES AND BENEFITS $15,154

MEDICAL SUPPLIES AND DRUGS 7,507

INSURANCE 3,963

PROVISION FOR BAD DEBTS 19

DEPRECIATION 367

INTEREST 385

TOTAL EXPENSES $27,395

NET INCOME $ 1,218

NET ASSETS, BEGINNING OF YEAR $ 900

NET ASSETS, END OF YEAR $ 2,118

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