Solution-Statements for northwest care hmo

Statements for northwest care hmo

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Reference no: EM133072033

Consider the following financial statements for Northwest Care HMO, a not-for-profit managed care plan:

Table A

Northwest Care HMO Statement of Operations and Change in Net Assets Year Ended June 30, 2020 (in thousands)
Revenue
Healthcare premiums	$ 27,893
Fees and other revenue	$1,723
Interest and other income	$323
Total revenues	$29,939
Expenses:
Healthcare costs	$16,152
General and administrative expenses	$8,936
Selling expenses	$7,230
Interest expense	$420
Total expenses	$32,738
Net income	$1,310

Net assets, beginning of year	$900
Net assets, end of year	$2,210

Table B

Northwest Care HMO Balance Sheet June 30, 2020 (in thousands)
Assets:
Cash and cash equivalents	$2,838
Net premiums and receivables	$920
Other current assets	$300
Total current assets	$4,058
Net property and equipment	$5,059
Total assets	$9,117
Liabilities and Net Assets:
Healthcare costs payable	$2,120
Accrued expenses	$824
Unearned premiums	$120
Current portion of long-term debt	$230
Total current liabilities	$3,294
Long-term debt	$4,230
Total liabilities	$7,524
Net assets (equity)	$2,210
Total liabilities and net assets	$9,734

Reference no: EM133072033

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Statements for northwest care hmo

Reference no: EM133072033

Reference no: EM133072033

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