The budgeted income statement for Roger healthcare for year 2018 is shown below | ||||
Roger Healthcare | ||||
Budgeted income statement | ||||
For the year ended 2018 | ||||
Revenue | $3,283,000 | 3350000*98% | ||
Less: Operating expenses | ||||
Salaries | ||||
Physicians | $1,311,000 | 1260000+51000 | ||
Nurses | $140,000 | |||
Nursing aide | $73,500 | |||
Receptionist | $54,000 | |||
Accounting services | $43,000 | |||
Training | $132,000 | 113000+19000 | ||
Supplies | $328,300 | 3283000*10% | ||
Phone and fax | $3,700 | |||
Insurance | $263,000 | |||
Depreciation | $235,000 | 218000+17000 | ||
Utilities | $19,005 | 18100*1.05 | ||
Miscellaneous | $70,350 | 67000*1.05 | ||
Total operating expenses | $2,672,855 | |||
Income before taxes | $610,145 | |||
Less: Taxes on income | $183,044 | |||
Net income | $427,102 | |||
Problem 10-6 Roger Healthcare, a group practice clinic with 10 physicians, had the following income in...
Marx Healthcare, a group practice clinic with 10 physicians, had the following income in 2017: Revenue $3,350,000 Less operating expenses: Salaries Physicians $1,340,000 Nurses 146,000 Nursing aide 62,500 Receptionist 50,000 Accounting services 46,000 Training 130,000 Supplies 259,000 Phone and fax 3,850 Insurance 260,000 Depreciation 230,000 Utilities 18,600 Miscellaneous 68,000 Total operating expenses 2,613,950 Income before taxes 736,050 Less taxes on income 257,618 Net income $478,432 The following changes are expected in 2018: 1. The clinic is expecting a 2 percent...
Sipacore Healthcare, a group practice clinic with 10 physicians, had the following income in 2017: Revenue $3,200,000 Less operating expenses: Salaries Physicians $1,330,000 Nurses 137,000 Nursing aide 72,500 Receptionist 53,000 Accounting services 49,000 Training 129,000 Supplies 232,000 Phone and fax 3,700 Insurance 259,000 Depreciation 247,000 Utilities 21,700 Miscellaneous 71,000 Total operating expenses 2,604,900 Income before taxes 595,100 Less taxes on income 208,285 Net income...
Income Statement; Net Loss The following revenue and expense account balances were taken from the ledger of Acom Health Services Co. after the accounts had been adjusted on January 31, 2018, the end of the fiscal year: Depreciation Expense $10,000 Insurance Expense 9,000 Miscellaneous Expense 8,150 Rent tixpense 60,000 Service Revenue 634,900 Supplies Expense 4,100 Utilities Expense 44,700 Wages Expense 548,200 Prepare an income statement. Acorn Health Services Co. Income Statement For the Year Ended January 31, 2018 Expenses: $...
Walker House, Inc., a multinational company based in Maryland, organizes and coordinates art shows and auctions throughout the world. Budgeted and actual costs and expenses for 2018 are compared in the following schedule. 2018 Amounts Expense items Budget Actual Salaries expense, staging $480,000 $513,000 Salaries expense, executive 380,000 447,000 Travel costs 640,000 652,000 Auctioneer services 540,000 450,000 Space rental costs 251,000 247,000 Printing costs 192,000 182,000 Advertising expense 169,000 183,000 Insurance, merchandise 85,000 77,000...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 2018: $10,650 724,500 5,000 Depreciation Expense Fees Eamed Insurance Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense 6,650 75,000 393,100 6,150 41,200 Prepare an income statement. Urgent Messenger Service Income Statement For the Year Ended November 30, 2018 Expenses: Total expenses od
Community College and needs to supplement his income while Roger is a student at Tacoma going to school. Roger buys a new car and decides to be an Uber driver. The hours are flexible and the pay is reasonably good allowing Roger to go the school and work. Roger didn't drive much during March as he was on spring break. In addition, Roger drove less during May and December because he was studying for final exams. Uber requires Roger to...
Income Statement; Net Loss The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January 31, 2017, the end of the fiscal year: Depreciation Expense $12,100 Insurance Expense 5,930 Miscellaneous Expense 4,720 Rent Expense 48,900 Service Revenue 232,300 Supplies Expense 2,900 Utilities Expense 18,630 Wages Expense 182,700 Acorn Health Services Co. Income Statement For the Year Ended January 31, 2017 Expenses: $ Total expenses
Income Statement; Net Loss The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the accounts had been adjusted on February 28, 2019, the end of the fiscal year: Depreciation Expense $13,900 Insurance Expense 6,810 Miscellaneous Expense 5,420 Rent Expense 56,200 Service Revenue 266,900 Supplies Expense 3,340 Utilities Expense 21,410 Wages Expense 209,900 Prepare an income statement. Use a minus sign to indicate a net loss. Wholistic Health Services Co. Income Statement...
2. Northeast Medical Group, a family practice, has the following financial data and operational metrics: Number of physicians Total revenue Total operating costs Total procedures per physician Patients per physician Visits per physician 2,748,360 1,557,615 12,353 1,941 5,333 a. What is the group's revenue per physician? b. What is the group's operating cost per physician? c. What is the group's total operating profit? d. Using your answer in letter C, what is the group's profit per physician? In letter c,...
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10 MUMS Dr. McMuffin has a medical clinic formed as a corporation that provides specialty care services to patients. The balances in the accounts as of January 1, 2019 are as follows: Cash 68,000 122,000 71,200 Accounts Receivable Office Supplies Building Land Office Fixtures and Equipment Medical Instruments Accounts Payable 47.000 Notes Payable 44,000 Contributed Capital 6,200 Retained Earnings 87.000 Patient Service Revenue 51,000 Income Tax Expense 28,000 Compensation Expense 40,000 Insurance Expense 42,000 Utilities Expense Below...