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Health Care Financial Statements Assignment | College Homework Help

Balance sheet. The following are account balances as of September 30, 20X1, for Ray Hospital. Prepare a balance sheet at September 30, 20X1. (Hint: net assets will also need to be calculated.)
Givens
Gross plant, property, and equipment $70,000,000
Accrued expenses $6,000,000
Cash $8,000,000
Net accounts receivable $15,500,000
Accounts payable $7,000,000
Long-term debt $45,000,000
Supplies $3,000,000
Accumulated depreciation $5,000,000Statement of operations. The following are annual account balances as of September 30, 20X1, for Snead Hospital. Prepare the portion of the statement of operations ending with operating income for the 12-month period ending September 30, 20X1.
Givens
Net patient revenue $720,000
Interest expense $18,000
Net assets released from restriction for operations $220,000
Depreciation expense $65,000
Labor expense $444,000
Provision for bad debt $7,000
Supply expense $144,000

Statement of operations. The following is a list of account balances for Krakower Healthcare Services, Inc. on December 31, 20X1. Prepare a statement of operations as of December 31, 20X1. (Hint: when net assets are released from restriction, the restricted account is decreased, and the unrestricted account is increased. It is recognized under revenues, gains, and other support.)
Givens Supply
expense $60,000
Transfer to parent corporation $18,000
Provision for bad debt expense $10,000
Depreciation expense $35,000
Labor expense $80,000
Interest expense $7,000
Administrative expense $50,000
Net patient service revenues $220,000
Net assets released from restriction $30,000

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