Question

PART B (Examine the data from Putman Medical Center)

Givens (in '000s):
Insurance expense	$70,000
Cash	$23,000
Patient revenues (net of contractuals)	$614,000
Net accounts receivable	$25,000
Ending balance, temporarily restricted net assets	$8,700
Wages payable	$9,100
Prepaid expense	$1,100
Long-term debt	$191,700
Supply expense	$66,000
Gross plant, property, and equipment	$556,000
Net assets released from temporary restriction	$8,000
Depreciation expense	$10,000
General expense	$95,000
Transfer to parent corporation	($8,000)
Beginning balance, unrestricted net assets	$203,400
Accounts payable	$21,000
Beginning balance, temporarily restricted net assets	$16,700
Provision for bad debt expense	$5,400
Labor expense	$145,000
Accumulated depreciation	$99,000
Long-term investments	$150,400
Ending balance, unrestricted net assets	$426,000

Louis Medical Center
Statement of Operations (in '000s)
For the Year Ended September 30, 2016
	9/30/2016
Unrestricted revenues
Patient revenues (net of contractuals)
Provision for bad debt expense
Net patient revenues
Net assets released from temporary restriction
Total revenues
Operating expenses:
Labor expense
General expense
Supply expense
Depreciation expense
Interest expense
Total operating expenses
Excess of revenues over expenses
Transfer to parent corporation
Increase in unrestricted net assets	$0

Louis Medical Center
Statement of Changes in Net Assets (in '000s)
For the Year Ended September 30, 2016
	9/30/2016
Unrestricted net assets
Excess of revenues over expenses
Unrestricted contributions	0
Transfer to parent corporation
Change in unrestricted net assets	0
Temporarily restricted net assets
Net assets released from temporary restriction
Change in temporarily restricted net assets	0
Permanently restricted net assets
	0
Change in permanently restricted net assets	0
Increase in net assets	0
Beginning balance, net assets
Ending balance, total net assets	$0

Answer 1

Louis Medical Center
Statement of Operations (in '000s)
For the Year Ended September 30, 2016
	9/30/16
Unrestricted revenues
Patient revenues (net of contractuals)	$614,000
Provision for bad debt expense	($5,400)
Net patient revenues	$608,600
Net assets released from temporary restriction	$8,000
Total revenues	$616,600
Operating expenses:
Labor expense	$145,000
General expense	$95,000
Supply expense	$66,000
Depreciation expense	$10,000
Insurance expense	$70,000
Total operating expenses	$386,000
Excess of revenues over expenses	$230,600
Transfer to parent corporation	($8,000)
Increase in unrestricted net assets	$222,600
Louis Medical Center
Statement of Changes in Net Assets (in '000s)
For the Year Ended September 30, 2016
	9/30/16
Unrestricted net assets
Excess of revenues over expenses	$230,600
Unrestricted contributions	$0
Transfer to parent corporation	($8,000)
Change in unrestricted net assets	$222,600
Temporarily restricted net assets
Net assets released from temporary restriction	($8,000)
Change in temporarily restricted net assets	0
Permanently restricted net assets
Change in permanently restricted net assets	0
Increase in net assets	$214,600
Beginning balance, unrestricted net assets	$203,400
Beginning balance, temporarily restricted net assets	$16,700
Ending balance, total net assets	$434,700