2930 Prepare a statement of operations.31 Not all accounts listed may be used in solving this problem.32$410,000.00$118,000.00$650,000.00$210,000.00$18,000.00$51,000$105,000.00$54,000.00$65,000.00$20,000.00$44,000.00$67,000.00$88,000.0033 Cash34 Patient Receivable35 Patient Revenue36 Property37 Interest Payable38 Interest Revenue39 Labor40 Depreciation41 Wages Payable42 Goodwill43 Rental Revenue44 Insurance expense45 Utility expense464748

Statement of Operation also knowns as income statement. This statement shows net income. Net income…

Answered: Prepare a statement of operations. Not…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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36. Accounts receivable management. Given the information below, compute the days in accounts receivable, aging schedule, and accounts receivable as a percentage of net patient revenues for quarter 1 and quarter 2 of fiscal year 20X2, which runs from October 20X1 through September 20X2. Compare the two quarters to determine if the organiza- tion's collection procedure is improving. (Hint: For simplicity, assume that each month is thirty days. Dollar figures are expressed in thousands.) Quarter 1, 20X1 Dec Nov Oct Quarter Days outstanding 1-30 31-60 61-90 1-90 Net accounts receivable $1,000 $4,600 $14,000 $19,600 Net patient revenues $4,000 $20,000 $36,000 $60,000 Quarter 2, 20X2 Mar Feb Jan Quarter Days outstanding 1-30 31-60 61-90 1-90 Net accounts receivable $14,000 $4,600 $1,000 $19,600 Net patient revenues $36,000 $20,000 $4,000 $60,000
View Policies Current Attempt in Progress Blue Spruce Company established a $110 petty cash fund on August 1. On August 31, the fund had $9 cash remaining and petty cash receipts for postage $41, office supplies $24, and miscellaneous expense $34. Prepare journal entries to establish the fund on August 1 and replenish the fund on August 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation e Textbook and Media Debit Credit
Case Studies / Problem Solving Below are summaries of cases studied. Please read each case, analyze the facts, and provide a brief solution to the problem. Sally Smith was the Treasurer of University Hospital. Ms. Smith perpetrated a $15 million fraud over a ten-year period. The fraud was accomplished through a “secret bank account” opened by Smith in the name of the Hospital Patient Reserve Account. Smith created phony invoices for the Hospital Patient Reserve Account, writing checks in payment from one of the Hospital’s bank accounts, and payable to the “Treasurer”. She would then deposit the checks into the secret account to pay her personal expenses. Additionally, she would prepare bank reconciliations for the accounts, made deposits, and was provided sole access to all statements, and correspondence from the University Hospital’s account. Identify the various weakness in internal controls, and how the University Hospital might have prevented such a loss.
Petty Cash Fund Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Prepare a classified balance sheet Be careful as this is a classified financial statement All accounts may not be used Third party revenue $6,100,000.00 Patient receivable $10,350,000.00 Accounts Receivable $1,400,000.00 Cash $50,000,000.00 Insurance expense $3,687,000.00 Mortgage Payable $12,630,000.00 Mortgage Payable- Current $1,100,000.00 Inventory (asset) $7,800,000.00 Wages Payable $3,900,000.00 Wage Expense $2,700,000.00 Inventory expense $4,650,000.00 Plant and Equipment $41,700,000.00 Accounts Payable $18,300,000.00 Supplies Payable $8,175,000.00 Medical Supplies $12,300,000.00 Medical Supply Expense $2,943,000.00 Net Assets without donor restrictions $17,693,000.00 Net assets with donor restrictions ???????????
Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: • Sales are budgeted at $305,000 for November, $325,000 for December, and $225,000 for January. • Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 80% of sales. • The company desires to have an ending merchandise inventory at the end of each month equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $22,600. Monthly depreciation is $28,500. . Ignore taxes. Assets Cash: Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity The difference between cash receipts and cash…
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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

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