25 Oct The goal of this assignment is to use an organization’s financial information to create financial statements (balance sheet, statement of operations, and s
The goal of this assignment is to use an organization’s financial information to create financial statements (balance sheet, statement of operations, and statement of changes in net assets).
In your eTextbook at the end of Chapter 2, locate Question 22 within “Review Questions and Problems.” Using the financial information provided for Sharpe Medical Center in the table, provide
- a completed statement of operations,
- a statement of changes in net assets, and
- a balance sheet.
To conclude this assignment, you must also
- analyze the organization’s financial position using the information contained within the financial statements that you composed, and
- create a summary of the organization’s financial strength based on the financial statements.
Your submission should be at least three pages, not counting the title or reference page. At a minimum, you must cite your eTextbook, but you may use other outside sources as well. Adhere to APA Style when constructing this assignment, including in-text citations and references for all sources that are used. Please note that no abstract is needed.
22. Multiple statements. The following are account balances (in thousands) at September 30, 20X1, for Sharpe Medical 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 (in ’000s)
Inventory $5,000
Patient revenue (net of contractuals) $402,000
Gross plant, property, and equipment $450,000
Net accounts receivable $95,000
Ending balance, net assets with donor restrictions $24,000
Wages payable $8,600
Long‐term debt $320,000
Supply expense $44,000
Net assets released from donor restriction $9,000
Depreciation expense $54,000
General expense $100,000
Bad debt expense $6,500
Cash and cash equivalents $58,000
Transfer to parent corporation ($7,900)
Beginning balance, net assets without donor restrictions $250,000
Accounts payable $16,000
Beginning balance, net assets with donor restrictions $33,000
Interest expense $4,000
Labor expense $180,000
Accumulated depreciation $70,000
Long‐term investments $95,200
Ending balance, net assets without donor restrictions $264,600
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Place Order” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.