Question: Financial Statement Preparation Case Study Given below is a list of account balances for ABC Hospital System as of December 31, 2022 and 2021. Display
Financial Statement Preparation Case Study Given below is a list of account balances for ABC Hospital System as of December 31, 2022 and 2021.
Display this information formatted Balance Sheet (50pts) and Income Statement (50pts). Students must add accounts and subtotals as necessary to create properly formatted Financial Statements.
For Depreciation Expense in 2022, students must first calculate the amount and then include it in a Financial Statement. (in thousands) Fiscal Year
| Accounts | 2022 | 2021 |
| Property, Plant, and Equipment (cost) | 1,551,174 | 1,465,030 |
| Accounts Payable | 330,972 | 315,870 |
| Other Long Term Assets | 527,399 | 317,874 |
| Long Term Debt | 765,559 | 602,664 |
| Accounts Receivable, Net | 241,175 | 240,272 |
| Cash and Investments | 1,834,888 | 1,746,513 |
| Accrued Payroll | 289,928 | 234,428 |
| Accumulated Depreciation | 750,000 | 734,000 |
| Net Patient Revenue | 1,853,614 | 1,806,556 |
| Salaries and Wages | 1,530,196 | 1,446,314 |
| Supplies Expense | 90,012 | 85,077 |
| Other Operating Expenses | 180,023 | 170,155 |
| Cafeteria and Gift Shop Sales | 83,977 | 90,518 |
| Depreciation Expense | ? | 15,000 |
| Gross Patient Revenue | 9,268,070 | 9,032,780 |
| Investment Income | 20,000 | 20,000 |
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
