Suppose the following information about income statement and balance sheet of a health care firm is specified
Question:
Suppose the following information about income statement and balance sheet of a health care firm is specified in the following (1000$)
Income statement:
Net patient service revenue 130,500 , health insurance revenues 90,400 , employees' salaries 35,000,employees benefits 15,000 , other revenue 9,500 ,supplies 45,000 insurance 4000,contributions 1500,investment income 3,500 , provision for uncollectible 4000,provision for malpractice 2,500 , depreciation 3000, interest expenses 2,000 , tax expenses 1500
Balance sheet
Cash and cash equivalent 15,500, short term investment 9,500, accounts receivable 20,000
Inventories 5,000 . gross plant and equipment 175,000 ,accumulated depreciation 25,000
Long term investment 80,000, accounts payable 4,500
Current portion of long term debt 4,500.long term debt 95,000 capital lease obligation 35,000
Prepare income statement and balance sheet?
Horngrens Accounting
ISBN: 978-0133855388
10th Canadian edition Volume 2
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood