Assignment for Chapter 11: Components of Balance Sheet and Statement of Net Income
Refer to the Metropolis Health System (MHS) financial statements contained in Appendix 33-A. Use the MHS comparative Balance Sheet, Statement of Revenue and Expenses, and Statement of Fund Balance for this assignment. Create a table with the following MHS Balance Sheet components. List the name of each component and its amount(s) and list appropriate MHS financial statement of where you found it.
Current Liabilities
Total Assets
Income from Operations
Total Operating Revenue
Current Portion of Long-Term Debt
Interest Income
Inventories
The balance sheet, sometimes called the statement of financial position, lists the company’s assets, liabilities, and stockholders ‘ equity (including dollar amounts) as of a specific moment in time. That specific moment is the close of business on the date of the balance sheet. A balance sheet is like a photograph; it captures the financial position of a company at a particular point in time. The other two statements are for a period of time.
The balance sheet is a formal document that follows a standard accounting format showing the same categories of assets and liabilities regardless of the size or nature of the business. Accounting is considered the language of business because its concepts are time-tested and standardized.
Current Liabilities | ||
Current maturities of long-term debt | 10,000 | |
Accounts payable and accrued expenses | 20,000 | |
Total Current Liabilities | 30,000 | |
Total Assets | 10,000 | |
Income from operations | 80,000 | |
Total Operating Revenue | 180,000 | |
Less current Portion of Long-Term Debt | 10,000 | |
Income from operations | 80,000 | |
Inventories-Supplies and Drugs | 5,000 |
Assignment for Chapter 11: Components of Balance Sheet and Statement of Net Income Refer to the...
Health Care Finance: Basic Tools For Nonfinancial Managers, Fifth Edition Judith J. Baker, R.W. Baker, and Neil R. Dworkin Assignment Exercise 11-3 Assignment Exercise 11-3 Assignment Exercise 11-3: Components of Balance Sheet and Income Statement Refer to the Metropolis Health System (MHS) balance sheet and statement of revenue and expense in the MHS Case Study appearing in Chapter 33. Property, plant, and equipment of $19,300,000 is shown as “net,” meaning net of the reserve for depreciation. If the $19,300,000 is...
With attached healthcare-related balance sheet:
1. Write your impressions and or comments about the assets,
liabilities, and net worth found on the balance sheet.
2. Would you have preferred more detail in this balance
statement? If so, why?
Instructed to just use the 2 pages pictured
Metropolis Health stem's Financial S) Statements and 3-A ts from Notes Metropolis Health System Balance Sheet March 31, 20X3 and 20X2 Current Assets $1,150,000 825,000 8,700,000 (1,300,000) 150,000 900,000 200,000 Cash and cash equivalents...
Health Care Finance: Basic Tools For Nonfinancial Managers, Fifth Edition Professor Dr. Sharon R. Elefant Assignment #2: Financial and Operating Ratios Refer to the Metropolis Health System (MHS) case study in Chapter 33. Required 1. Use the tables provided to SHOW YOUR WORK for the liquidity, solvency, and profitability ratios. 2. Compute the ratios using the Chapter 33 MHS financial statements. Liquidity Ratios Numerator [top number] Denominator [bottom number] Ratio Liquidity Ratios Current Quick Days Cash on Hand (DCOH) Days...
lysis of Financial Statements - Homework Assignment The balance sheet and income statement shown below are for Koski Ine. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. A Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable...
Multiple-step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance Sheet Final Question Instructions Cash Accounts receivable Inventory Estimated returns inventory Office supplies Prepaid insurance Office equipment Accumulated depreciation-office equipment Store equipment Accumulated depreciation-store equipment Accounts payable Customer refunds payable Salaries payable Note payable (final payment due 2024) Common stock Retained earnings Dividends Sales Cost of goods sold Sales salaries expense Advertising expense Depreciation expense-store equipment Miscellaneous selling expense Office salaries expense Rent...
43) Autry Corporation's balance sheet and income statement appear below Comparative Balance Sheet Ending Balance Begining Balance 33 $ 26 67 154 673 199 315 358 $ $12 520 293 227 $ 386 Assets Current assets Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities...
Please help me create an
indirect statement of cash flows using this income statement and
balance sheet. Thank you.
Income Statement MHOMC 2003 2002 OPERATING REVENUE Net patient service revenue Other operating revenue 400.735 16.836 339.746 15,149 417,571 Total operating revenue 354,895 EXPENSES Salaries and benefits Supplies and other 244,747 205,376 71.347 65,294 General Support Depreciation Interest Bad debt expense 35,803 29.945 7,021 13.395 31,062 27,042 4,256 14.898 1 Total operating expenses 402 258 3 47 928 INCOME FROM OPERATIONS...
Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 66,700 Expenses: Salaries $ 41,900 Depreciation 5,600 Utilities 5,200 Loss on sale of equipment 900 53,600 Net income $ 13,100 Partial Balance Sheet Current Year Prior Year Accounts receivable $ 12,400 $ 24,900 Salaries payable 19,300 10,300 Other accrued liabilities 5,400 9,600 Land 51,900 58,600 Required: Present the operating activities section of the statement of cash...
Multiple-step income statement and balance sheet Instructions Labels and Amount Descriptions Income Statement Instructions The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2018: Cash $ 243,100 Accounts receivable 964,900 Inventory 1,788,600 21,200 Estimated returns inventory Office supplies Prepaid insurance 17,800 8,400 Office equipment 825,900 543,800 Accumulated depreciation office equipment Store equipment Accumulated depreciation-store equipment 3,609,700 1,814,900 Jenny expenses Print Item Calculator eBook Multiple-step income statement and...
Presented below are the 2021 income statement and comparative balance sheet me statement and comparative balance sheets for Santana Industries. P4-11 Statement of cash flows; indirect method • L04-8 $ 17,650 SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $14,250 Service revenue 3,400 Total revenue Operating expenses: Cost of goods sold 7,200 Selling expense 2,400 General and administrative expense 1,500 Total operating expenses Operating income Interest expense Income before income taxes Income...