Basic financial statements for investor-owned health care

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Reference no: EM13853549

Q.1. Identify and explain the basic financial statements for investor-owned health care entities and not-for-profit entities.

Q.2.Balance sheet. The following are account balances as of September 30, 20X1, for Ray Hospital. Prepare a balance sheet at September 30, 20X1. (Hint: net assets will also need to be calculated.)

Given

Gross plant, property, and equipment

$70,000,000

Accrued expenses

$6,000,000

Cash

$8,000,000

Net accounts receivable

$15,500,000

Accounts payable

$7,000,000

Long-term debt

$45,000,000

Supplies

$3,000,000

Accumulated depreciation

$5,000,000

Q.3.Statement of cash flows. The following is a list of account balances for Hover Hospital on June 30, 20X1. Prepare a statement of cash flows as of June 30, 20X1.

Givens

Transfer to parent corporation

$40,000

Proceeds from sale of fixed equipment

$2,290,000

Principal payment on bonds payable

$780,000

Purchase of fixed equipment

$5,300,000

Beginning of cash balance

$6,500,000

Cash from operating activities

$3,900,000

Principal payment on notes payable

$6,500

Reference no: EM13853549

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