Q.1. Identify and explain the basic financial statements for investor-owned heal
ID: 2383894 • Letter: Q
Question
Q.1. Identify and explain the basic financial statements for investor-owned health care entities and not-for-profit entities.
Q.2.Balance sheet. The following are account balances as of September 30, 20X1, for Ray Hospital. Prepare a balance sheet at September 30, 20X1. (Hint: net assets will also need to be calculated.)
Given
Gross plant, property, and equipment
$70,000,000
Accrued expenses
$6,000,000
Cash
$8,000,000
Net accounts receivable
$15,500,000
Accounts payable
$7,000,000
Long-term debt
$45,000,000
Supplies
$3,000,000
Accumulated depreciation
$5,000,000
Q.3.Statement of cash flows. The following is a list of account balances for Hover Hospital on June 30, 20X1. Prepare a statement of cash flows as of June 30, 20X1.
Givens
Transfer to parent corporation
$40,000
Proceeds from sale of fixed equipment
$2,290,000
Principal payment on bonds payable
$780,000
Purchase of fixed equipment
$5,300,000
Beginning of cash balance
$6,500,000
Cash from operating activities
$3,900,000
Principal payment on notes payable
$6,500
Given
Gross plant, property, and equipment
$70,000,000
Accrued expenses
$6,000,000
Cash
$8,000,000
Net accounts receivable
$15,500,000
Accounts payable
$7,000,000
Long-term debt
$45,000,000
Supplies
$3,000,000
Accumulated depreciation
$5,000,000
Explanation / Answer
1..
FINANCIAL STATEMENT FOR INVESTOR OWNED HEALTH CARE ENTITIES
BALANCE SHEET
STATEMENT OF INCOME AND COMPREHENSIVE INCOME
STATEMENENT OF CHANGES IN STOCKHOLDER'S EQUITY
STATEMENT OF CASH FLOWS
NOTES TO FINANCIAL STATEMENT
FINANCIAL STATEMENT FOR NOT FOR PROFIT HEALTH CARE ENTITIES
BALANCE SHEET
STATEMENT OF OPERATIONS
STATEMENENT OF CHANGES IN NET ASSETS
STATEMENT OF CASH FLOWS
NOTES TO FINANCIAL STATEMENT
2..
Ray Hospital
Balance Sheet as at September 30, 20X1
CURRENT ASSETS
CURRENT LIABILITIES
Cash
8000000
ACCOUNTS PAYABLE
7000000
Supplies
3000000
Accrued expenses
6000000
Net accounts receivable
15500000
TOTAL CURRENT ASSETS
13000000
TOTAL CURRENT ASSETS
26500000
Gross plant, property, and equipment
70000000
Long-term debt
45000000
Less : Accumulated depreciation
5000000
TOTAL LIABILITIES
58000000
Net Gross plant, property, and equipment
65000000
NET ASSETS (Balancing Figure)
33500000
91500000
91500000
3..
Cash from operating activities
3900000
Cash from Investing activities
Proceeds from sale of fixed equipment
2290000
Purchase of fixed equipment
-5300000
-3010000
Cash from Finanacing activities
Principal payment on bonds payable
-780000
Principal payment on notes payable
-6500
Transfer to parent corporation
-40000
-826500
Beginning of cash balance
6500000
Closing cash balance
6563500
FINANCIAL STATEMENT FOR INVESTOR OWNED HEALTH CARE ENTITIES
BALANCE SHEET
STATEMENT OF INCOME AND COMPREHENSIVE INCOME
STATEMENENT OF CHANGES IN STOCKHOLDER'S EQUITY
STATEMENT OF CASH FLOWS
NOTES TO FINANCIAL STATEMENT
FINANCIAL STATEMENT FOR NOT FOR PROFIT HEALTH CARE ENTITIES
BALANCE SHEET
STATEMENT OF OPERATIONS
STATEMENENT OF CHANGES IN NET ASSETS
STATEMENT OF CASH FLOWS
NOTES TO FINANCIAL STATEMENT
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