16 Multiple statements The following are account balances n

16. Multiple statements. The following are account balances (n 30, 20X1, for Ma operations Givens (in \'000s) Administrative expense Depreciation expense Cash General expense Patient revenue (net of contractuals) Transfer to parent corporation Gross accounts receivable Beginning balance, unrestricted net assets Ending balance, temporarily restricted net assets Accounts payable Wages payable Beginning balance, temporarily restricted net assets Prepaid expenses Provision for bad debt expense Long-term debt Labor expense Medical Center. Prepare (a) a balance sheet, (b) a statement of statement of changes in net assets for September 30, 20x1. 535,000 33,000 $42.000 $85,000 $555,000 $7,000 $53,000 $155,600 s5,000 $24,000 $14,000 $13,000 $8,000 $6,500 $482.300 144,000 $61,000 Supply expense Accumulated depreciation Gross plant, property, and equipment 100,000 $660,000 $11,000 Ending/beginning balance, permanently restricted net assets Net assets released from restriction for operations Ending balance, unrestricted net assets Uncollectibles in accounts receivable Accrued expenses inventory Temporary investments Premium revenue Other revenue Long-term investments, unrestricted Current portion of long-term debt $8,000 356,300 $5,000 $4,100 $9,000 $9,200 $6,200 $3,000 $222,000 $1,500

Solution

1) Satement of operations:

Balance sheet:

Statement of changes in net assets:

Patient revenue	555000
(+) Premium revenue	6200
(+) Other revenue	3000
Total Revenue	564200
(-) Depreciation expesne	33000
(-) supply expense	61000
(-) Labour expense	141000
(-) Provision for bad debts	6500
(-) administrative expense	35000
(-) General expense	85000
(-) uncollectibles in AR	5000
Net income	197700