Question

a, b, and c

15. Multiple statements. The following are account balances as of September 30, 20x1, for Exton Outpatient Center. Prepare (a) a balance sheet, (b) a statement of operations, and (c) a statement of changes in net assets for September 30, 20X1. Givens $55,000 Insurance expense $33,000 Depreciation expense $61,000 Cash General expense $255,000 Patient revenue (net of contractuals) $1,100,000 Transfer to parent corporation $55,000 Net accounts receivable $350,000 Beginning balance, unrestricted net assets $275,000 Ending balance, temporarily restricted net assets $48,000 Accounts payable $23,000 Wages payable $37,000 Beginning balance, temporarily restricted net assets $70,000 Prepaid expenses $8,000 Provision for bad debts $8,000 Long-term debt $270,000

Answer 1

Temporarily restricted Balance sheet of Exten Outpatient Cente As A Set 20,2011 Liabilities Perout Assets 61,000 net assets 48,000 Net Hecasts Parinade 3,504 Unrestricted not assets 456,000 Graus pesta peppesty 270,000 & equipment 400000 Accounts Payable 23,000 Accumulated depasit la sanoa 37,000 Prepaid ergs imanently restricted net asset 35.000 8,69,000 Long term dest elages Payable 1100.00 Statement of Operations for the your ended Sept 20,20x1 Expenditure Amunt Income To Insurance exps $5,000 By Patent Resence To exprecestion expo 33,000 2.515.000 deos To Bovision for baddette 0,000 4,70,000 65,000 to Surplus transier 214,000 To Exneral exps To Labour exps To Supply exps ܘܘܘܠܐ 100,000

DATE 275,000 (55,000) 2,29000 c) Statement of change in Net Assets As at Sept 30, 20x1 Begining balance, unbestricted net assets - Transfer to parent company (corporation) (t) Amount transfer from restricted net assets 4) Net Surplus tanstast from income despenditure CH)Net asseto release from temporossily greataiction Ending balance, unsestricted neat assete account 214,000 22000 4,52,000 Regining balance, restricted met assets 70,000 (4) Wel asserta relaase from temporarily destriction (2010) ( Ending balance, restsidad not assets 48.000
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