Sharpe Medical Center is a large Midwestern acute
Sharpe Medical Center is a large Midwestern acute care and ambulatory facility serving an urban city population.
Givens (in '000s) as of Y/E 9/30/2016: | |
Inventory | $4,000 |
Patient revenues (net of contractual allowance) | $302,000 |
Gross plant, property, and equipment | $375,000 |
Net accounts receivable | $85,000 |
Ending balance, temporarily restricted net assets | $6,000 |
Wages payable | $6,600 |
Long-term debt | $218,400 |
Supply expense | $34,000 |
Net assets released from temporary restriction | $7,000 |
Depreciation expense | $44,000 |
General expense | $95,000 |
Provision for bad debt expense | $4,500 |
Cash and cash equivalents | $18,000 |
Transfer to parent corporation | ($3,900) |
Beginning balance, unrestricted net assets | $239,400 |
Accounts payable | $11,000 |
Beginning balance, temporarily restricted net assets | $13,000 |
Interest expense | $6,000 |
Labor expense | $123,000 |
Accumulated depreciation | $22,000 |
Long-term investments | $20,000 |
Ending balance, unrestricted net assets | $238,000 |
To prepare for this Assignment:
Examine the data from Sharpe Medical Center. Reflect on how you will use this data to develop a Balance Sheet, Profit and Loss Statement, and Cash Flow Statement. Refer to the course text for additional guidance.
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Solution: Sharpe Medical Center is a large Midwestern acute