Balance sheet | Accounting homework help

15. Multiple statements: The following are account balances as of September 30, 20X1, for Exton Outpatient Center. Prepare (a) a balance sheet, (b) a statement of operations, and (c) a statement of changes in net assets for September 30, 20X1.

Givens:

       

Insurance expense

$55,000

 

Depreciation expense

$33,000

Cash

$61,000

 

General expense

$255,000

Patient revenues (net of contractuals )

$1,100,000

 

Transfer to parent corporation

$55,000

Net accounts receivable

$350,000

 

Beginning balance, unrestricted net assets

$275,000

Ending balance, temporarily restricted net assets

$48,000

 

Accounts payable

$23,000

Wages payable

$37,000

 

Beginning balance, temporarily restricted net assets

$70,000

Prepaid expenses

$8,000

 

Provision for bad debts

$8,000

Long-term debt

$270,000

 

Labor expense

$470,000

Supply expense

$65,000

 

Accumulated depreciation

$450,000

Gross plant, property, and equipment

$900,000

 

Ending / beginning balance, permanently restricted net assets

$35,000

Net assets released from temporary restriction

$22,000

 

Ending balance, unrestricted net assets

$456,000

 

 

 

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more