Maintain a statement of operations and prepare balancesheet

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Reference no: EM131807806

The following are account balances (in thousands) on September 30, 20x1, for Marview medical center.

Prepare

(a) a balance sheet

(b) a statement of operations, and

Givens (in ‘000s).

Administrative Expense $35,000

Depreciative Expense $33,000

Cash- $42,000

General Expense $85,000

Patient Revenue (net of contractual) $555,000

Transfer to patient corporation $7,000

Gross Accounts Receivable- $53,000

Beginning Balance, unrestricted net assets- $155,600

Ending Balance, temporarily restricted net assets- $5,000

Accounts Payable $24,000

Wages payable $14,000

Beginning balance, temporarily restricted net assets $13,000

Prepaid Expenses $8,000

Provision for bad debt expense $6,500

Long-Term bad debt $482,300

Labor Expense $144,000

Supply Expense $61,000

Accumulated depreciation $100,000

Gross plant, property, and equipment- $666,000

Ending/Beginning balance, permanently restricted net assets- $11,000

Net assets released from restriction for operations- $8,000

Ending balance, unrestricted net assets- $356,300

Uncollectible in accounts receivable- $5,000

Accrued expenses- $4,100

Inventory-$9,000

Temporary investments- $9,200

Premium revenue- $6,200

Other revenue-$3,000

Long-term investments, unrestricted-$222,000

Current portion of long-term debt-$1,500

Reference no: EM131807806

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