Prepare, in good form (GAAP), a balance sheet.

Hint: Make sure to include all parts of the balance sheet; think of the accounting equation to make sure everything “adds up”.

Part B (10 Points): Prepare, in good form (GAAP), an income statement.

Hint: Make sure non-operating components are in the correct section.

Part C (10 Points): Prepare a Cash Flow with the 3 necessary sections.

Part D (10 Points):

1. Summarize the key takeaways from the cash flow in 4 or less sentences.
2. Assess the financial performance of Good Hospital using ratios from class or your book, using no less than 4 ratios. For each, calculate the ratio for both fiscal years and explain the significance toward measuring performance of the organization. You may use external sources if you would like to compare ratios to relevant benchmarks for your analysis.

 

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Good Hospital Trial Balances Account Long Term Debt Property Plant and Equipment Accumulated Depreciation Accounts Receivable Investments Accounts Payable Other Current Assets Accrued Expense Cash Gross Patient Service Revenue Contractual Adjustments (explicit and implicit price concessions) Salary Expense Depreciation Other Expense Investment Income Patient Supplies Expense 12/31/2020 12/31/2021 20,000,000 15,000,000 81,000,000 85,000,000 (40,000,000) (42,000,000) 5,000,000 2,000,000 13,000,000 16,250,000 2,350,000 2,325,000 900,000 1,000,000 2,000,000 3,750,000 11,100,000 12,000,000 40,000,000 45,000,000 17,000,000 15,000,000 10,000,000 12,000,000 1,950,000 2,000,000 2,500,000 4,000,000 1,000,000 1,250,000 4,250,000 4,725,000 Good Hospital Trial Balances Account Long Term Debt Property Plant and Equipment Accumulated Depreciation Accounts Receivable Investments Accounts Payable Other Current Assets Accrued Expense Cash Gross Patient Service Revenue Contractual Adjustments (explicit and implicit price concessions) Salary Expense Depreciation Other Expense Investment Income Patient Supplies Expense 12/31/2020 12/31/2021 20,000,000 15,000,000 81,000,000 85,000,000 (40,000,000) (42,000,000) 5,000,000 2,000,000 13,000,000 16,250,000 2,350,000 2,325,000 900,000 1,000,000 2,000,000 3,750,000 11,100,000 12,000,000 40,000,000 45,000,000 17,000,000 15,000,000 10,000,000 12,000,000 1,950,000 2,000,000 2,500,000 4,000,000 1,000,000 1,250,000 4,250,000 4,725,000 Good Hospital Trial Balances Account Long Term Debt Property Plant and Equipment Accumulated Depreciation Accounts Receivable Investments Accounts Payable Other Current Assets Accrued Expense Cash Gross Patient Service Revenue Contractual Adjustments (explicit and implicit price concessions) Salary Expense Depreciation Other Expense Investment Income Patient Supplies Expense 12/31/2020 12/31/2021 20,000,000 15,000,000 81,000,000 85,000,000 (40,000,000) (42,000,000) 5,000,000 2,000,000 13,000,000 16,250,000 2,350,000 2,325,000 900,000 1,000,000 2,000,000 3,750,000 11,100,000 12,000,000 40,000,000 45,000,000 17,000,000 15,000,000 10,000,000 12,000,000 1,950,000 2,000,000 2,500,000 4,000,000 1,000,000 1,250,000 4,250,000 4,725,000 Good Hospital Trial Balances Account Long Term Debt Property Plant and Equipment Accumulated Depreciation Accounts Receivable Investments Accounts Payable Other Current Assets Accrued Expense Cash Gross Patient Service Revenue Contractual Adjustments (explicit and implicit price concessions) Salary Expense Depreciation Other Expense Investment Income Patient Supplies Expense 12/31/2020 12/31/2021 20,000,000 15,000,000 81,000,000 85,000,000 (40,000,000) (42,000,000) 5,000,000 2,000,000 13,000,000 16,250,000 2,350,000 2,325,000 900,000 1,000,000 2,000,000 3,750,000 11,100,000 12,000,000 40,000,000 45,000,000 17,000,000 15,000,000 10,000,000 12,000,000 1,950,000 2,000,000 2,500,000 4,000,000 1,000,000 1,250,000 4,250,000 4,725,000

Answer rating: 100% (QA)

Lets calculate the ratios and work through the financial statements using the provided trial balances Balance Sheet Assets Property Plant and Equipment Accumulated Depreciation 2020 81000000 40000000 ... View the full answer