Explain what assets and liabilities are

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Reference no: EM131359868

Healthcare Finance Assignment

Part I: Assets and Liabilities

Review the items below. Place an "X" in the box that identifies whether the item is an asset or a liability.

Item

Asset

Liability

Cash



Inventory



Bonds payable



Land



Buildings



Payroll taxes due



Accounts payable



Equipment



Notes receivable



Additionally, explain what assets and liabilities are (both long-term and short-term) and their impact on the finance of a health care organization.

Part II: Revenue Statements

Managers will often have to provide presentations to those internal and external to their organization. It is important for managers to understand how to convert dollars to percentages because this provides another method for the audience to see how much of the pie is entering and exiting the organization.

Convert the dollar amounts for the revenue statement below to percentages. Upon completion of converting the dollar amounts to percentages, develop a pie chart for the revenue source and percentage.

ABC Outpatient Clinic 
Statement of Revenue for January 20X0

Revenue Source

Dollar Amount ($)

Percentage (%)

Patient out-of-pocket payments

$364,029

 

Medicaid

$750,000

 

Medicare

$935,680

 

True Blue Insurance Co.  

$125,000

 

Insurance of Florida

$95,000

 

Total

$2,269,709

 

Please submit your assignment.

Reference no: EM131359868

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