Homework Help is Here – Start Your Trial Now!
Business
Accounting
Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital. Hint: the below information is necessary for you to complete the assignment. Assets Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment Inventory 69 69 69 69 69 $ $ 920,000 57,500 $ 1,380,000 $ 280,000 $ 500,000 $ 20,000 Labor Interest $ 90,000 Insurance Depreciation 69 69 69 $ 25,000 $ 22,000 48,000 Accounts Payable $ Revenue Net Assets Liabilities 807,500 Wages Payable Mortgage Payable Unrestricted Temporarily Restricted Permanently Restricted Patient Service Revenue Revenue contributions donations. $ 110,000 $ 915,000 $ 845,000 $ 345,000 $ 115,000 $ 200,000 $ 50,000 Revenue- non-patient services (gift shop, parking etc.) $ 30,000 1- Complete the Journal Entries and Corresponding T account records that are provided to you in "Joumal Entries" woksheet 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginning and ending balances. 3- By using the information provided to you and information that you generated in the ledger, prepare your balancesheet as of December 31 2018 by utilizing the Balance Sheet Template 4 By using the information provided to you and the information that you generated calculate your depreciation expense by using 3 different methods of depreciation methods - Use the Depreciation template provided to your 5- By using the information provided to you and information that you generated in the ledger, prepare your Income Statement as of December 31 2018 by utilizing the Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Depreciation calculation 6- By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2018 by utilizing the Statement of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement

Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital. Hint: the below information is necessary for you to complete the assignment. Assets Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment Inventory 69 69 69 69 69 $ $ 920,000 57,500 $ 1,380,000 $ 280,000 $ 500,000 $ 20,000 Labor Interest $ 90,000 Insurance Depreciation 69 69 69 $ 25,000 $ 22,000 48,000 Accounts Payable $ Revenue Net Assets Liabilities 807,500 Wages Payable Mortgage Payable Unrestricted Temporarily Restricted Permanently Restricted Patient Service Revenue Revenue contributions donations. $ 110,000 $ 915,000 $ 845,000 $ 345,000 $ 115,000 $ 200,000 $ 50,000 Revenue- non-patient services (gift shop, parking etc.) $ 30,000 1- Complete the Journal Entries and Corresponding T account records that are provided to you in "Joumal Entries" woksheet 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginning and ending balances. 3- By using the information provided to you and information that you generated in the ledger, prepare your balancesheet as of December 31 2018 by utilizing the Balance Sheet Template 4 By using the information provided to you and the information that you generated calculate your depreciation expense by using 3 different methods of depreciation methods - Use the Depreciation template provided to your 5- By using the information provided to you and information that you generated in the ledger, prepare your Income Statement as of December 31 2018 by utilizing the Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Depreciation calculation 6- By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2018 by utilizing the Statement of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter2: Building Blocks Of Managerial Accounting
Section: Chapter Questions
Problem 1EA: Magio Company manufactures kitchen equipment used in hospitals. They distribute their products...
See similar textbooks
icon
Related questions
Question

Help me please.

Don't use Any AI.

Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital. Hint: the below information is necessary for you to complete the assignment. Assets Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment Inventory 69 69 69 69 69 $ $ 920,000 57,500 $ 1,380,000 $ 280,000 $ 500,000 $ 20,000 Labor Interest $ 90,000 Insurance Depreciation 69 69 69 $ 25,000 $ 22,000 48,000 Accounts Payable $ Revenue Net Assets Liabilities 807,500 Wages Payable Mortgage Payable Unrestricted Temporarily Restricted Permanently Restricted Patient Service Revenue Revenue contributions donations. $ 110,000 $ 915,000 $ 845,000 $ 345,000 $ 115,000 $ 200,000 $ 50,000 Revenue- non-patient services (gift shop, parking etc.) $ 30,000 1- Complete the Journal Entries and Corresponding T account records that are provided to you in "Joumal Entries" woksheet 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginning and ending balances. 3- By using the information provided to you and information that you generated in the ledger, prepare your balancesheet as of December 31 2018 by utilizing the Balance Sheet Template 4 By using the information provided to you and the information that you generated calculate your depreciation expense by using 3 different methods of depreciation methods - Use the Depreciation template provided to your 5- By using the information provided to you and information that you generated in the ledger, prepare your Income Statement as of December 31 2018 by utilizing the Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Depreciation calculation 6- By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2018 by utilizing the Statement of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement
Transcribed Image Text:Below you are provided Ending Balances from 2017 financial statements for your not-for-profit hospital. Hint: the below information is necessary for you to complete the assignment. Assets Cash Prepaid Insurance Accounts Receivable Inventory Plant & Equipment Inventory 69 69 69 69 69 $ $ 920,000 57,500 $ 1,380,000 $ 280,000 $ 500,000 $ 20,000 Labor Interest $ 90,000 Insurance Depreciation 69 69 69 $ 25,000 $ 22,000 48,000 Accounts Payable $ Revenue Net Assets Liabilities 807,500 Wages Payable Mortgage Payable Unrestricted Temporarily Restricted Permanently Restricted Patient Service Revenue Revenue contributions donations. $ 110,000 $ 915,000 $ 845,000 $ 345,000 $ 115,000 $ 200,000 $ 50,000 Revenue- non-patient services (gift shop, parking etc.) $ 30,000 1- Complete the Journal Entries and Corresponding T account records that are provided to you in "Joumal Entries" woksheet 2- By using the Information provided to you fill out Not-for-Profit Ledger including the beginning and ending balances. 3- By using the information provided to you and information that you generated in the ledger, prepare your balancesheet as of December 31 2018 by utilizing the Balance Sheet Template 4 By using the information provided to you and the information that you generated calculate your depreciation expense by using 3 different methods of depreciation methods - Use the Depreciation template provided to your 5- By using the information provided to you and information that you generated in the ledger, prepare your Income Statement as of December 31 2018 by utilizing the Income Statement Template Hint: In your income statement use the numbers from your Double Declining Balance Depreciation calculation 6- By using the information provided to you and information that you generated, prepare your Cash Flow statement as of December 31 2018 by utilizing the Statement of the Cash Flow Template Hint: Please use the direct method for your Cash Flow Statement
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
SEE MORE TEXTBOOKS