The following are account balances (in thousands) on September 30, 20x1, for Marview medical 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 (in ‘000s).
Administrative Expense $35,000
Depreciative Expense $33,000
Cash- $42,000
General Expense $85,000
Patient Revenue (net of contractual) $555,000
Transfer to patient corporation $7,000
Gross Accounts Receivable- $53,000
Beginning Balance, unrestricted net assets- $155,600
Ending Balance, temporarily restricted net assets- $5,000
Accounts Payable $24,000
Wages payable $14,000
Beginning balance, temporarily restricted net assets $13,000
Prepaid Expenses $8,000
Provision for bad debt expense $6,500
Long-Term bad debt $482,300
Labor Expense $144,000
Supply Expense $61,000
Accumulated depreciation $100,000
Gross plant, property, and equipment- $666,000
Ending/Beginning balance, permanently restricted net assets- $11,000
Net assets released from restriction for operations- $8,000
Ending balance, unrestricted net assets- $356,300
Uncollectible in accounts receivable- $5,000
Accrued expenses- $4,100
Inventory-$9,000
Temporary investments- $9,200
Premium revenue- $6,200
Other revenue-$3,000
Long-term investments, unrestricted-$222,000
Current portion of long-term debt-$1,500