From the text \" Fundamentals of Healthcare Finance\" 2nd edition by Louis C. Ga
ID: 2754181 • Letter: F
Question
From the text " Fundamentals of Healthcare Finance" 2nd edition by Louis C. Gapenski, page 352 end of chapter problem 11.1
Entries for the Warren Clinic 2012 income statement are listed below in alphabetical order. Reorder the data to reflect income statement format.
Bad debt expense - $ 40,000
Depreciation expense - $ 90,000
General/ administrative expenses - $ 70,000
Interest expense - $ 20,000
Nonoperating income - $ 40,000
Net income - $ 30,000
Other operating revenue - $ 10,000
Patient service revenue - $ 440,000
Purchased clinic services - $ 90,000
Salaries and benefits - $ 150,000
Explanation / Answer
Answer:
Income statement In $ In $ Patient service revenue 440000 Other operating revenue 10000 A Total operating income 450000 Operating expenses: Purchased clinic services 90000 Salaries and benefits 150000 General/ administrative expenses 70000 Depreciation expense 90000 Bad debt expense 40000 B Total operating Expenses 440000 C Net Opeating profit (A-B) 10000 Other income & Expesnes: Nonoperating income 40000 Interest expense 20000 Net Income 30000Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.