Prepare the two statements as instructed. Given below is a list of account balances for Currie...
Prepare the two statements as instructed.
Given below is a list of account balances for Currie Hospital as of December 31, 2013. Prepare a balance sheet as of December 31, 2013, in proper form. (Hint: You will need to compute the net assets account. Assume that all net assets at the beginning of the year are unrestricted.)
Account
Balance
Gross plant & equipment
$6,000,000
Accounts payable
130,000
Inventories
100,000
Other current liabilities
70,000
Net accounts receivable
650,000
Accrued expenses
100,000
Accumulated depreciation
200,000
Long-term debt
5,000,000
Cash
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Prepare the two statements as instructed.
Given below is a list of account balances for Currie...
a, b, and c 15. Multiple statements. The following are account balances as of September 30,...
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...
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Florida Hospital Apopka, a not-for profit organization, began 2018 with the following account balances on January...
Florida Hospital Apopka, a not-for profit organization, began
2018 with the following account balances on January 1:
Cash
$70,000
Accounts receivable
245,000
Allowance for doubtful accounts
18,000
Supplies inventory
24,000
Property and Equipment
1,500,000
Accumulated depreciation
300,000
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500,000
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31):
Transaction Number
Event
Amount
1.
Billed patients for services rendered
$1,700,000
2.
Purchased medical...
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The accounts receivable balance on the balance sheet should be ‘net of allowance for doubtful accounts’....
The accounts receivable balance on the balance sheet should be
‘net of allowance for doubtful accounts’. Resulting in a net
balance of $100,000. Total assists and total liabilities plus
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The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are...
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Florida Hospital Apopka, a not-for profit organization, began 2018 with the following account balances on January...
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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...
From the following list of adjusted account balances, prepare the current asset section of Denfield's Hardscaping for December 31, 2017. Assume all accounts have normal balances. 5 (Click the icon to view the adjusted balances.) Prepare the current asset section of the balance sheet for Denfield's Hardscaping for December 31, 2017 i Data Table Denfield's Hardscaping Partial Balance Sheet December 31, 2017 Assets $ LOSS: Accounts receivable Bad debt expense Notes receivable, due August 31, 2018 Supplies Note receivable, due...
Florida Hospital Apopka, a not-for profit organization, began
2018 with the following account balances on January 1:
Cash
$70,000
Accounts receivable
245,000
Allowance for doubtful accounts
18,000
Supplies inventory
24,000
Property and Equipment
1,500,000
Accumulated depreciation
300,000
Accounts payable
21,000
Notes payable (short-term bank loans)
500,000
Net assets
1,000,000
During 2018, the accounting clerk recorded the following
transactions (Florida Hospital Apopka’s year end is December
31):
Transaction Number
Event
Amount
1.
Billed patients for services rendered
$1,700,000
2.
Purchased medical...
The accounts receivable balance on the balance sheet should be
‘net of allowance for doubtful accounts’. Resulting in a net
balance of $100,000. Total assists and total liabilities plus
equity balances should equal $810,000.
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