Walden MMHA6400 week 7assignment

All organizations, including those in the health care industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements summarize an organization’s profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from a medical center.

To prepare for this Assignment:

Review the Week 7 Assignment document provided to you by the Instructor. Examine the data from the medical center described in the document. Reflect on how you will use this data to develop a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets). Refer to the course text for additional guidance.

The Assignment:

Complete a balance sheet, profit and loss statement (statement of operations), and cash flow statement (statement of changes in net assets) using the “Week 7 Financial Statement Exce

Developing Financial Statements

All organizations, including those in the healthcare industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements, summarize an organization’s profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from the  Medical Center.

ivens (in '000s):
Provision for bad debt expense $10,200
Cash $12,600
Patient revenues (net of contractuals) $188,000
Net accounts receivable $15,300
Ending balance, temporarily restricted net
assets $13,700
Wages payable $7,800
Inventory $4,400
Long-term debt $39,000
Supply expense $21,000
Gross plant, property, and equipment $175,000
Net assets released from temporary restriction $3,300
Depreciation expense $10,000
General expense $36,000
Transfer to parent corporation ($3,300)
Beginning balance, unrestricted net assets $160,600
Accounts payable $12,000
Beginning balance, temporarily restricted net
assets $17,000
Interest expense $1,800
Labor expense $105,000
Accumulated depreciation $35,000
Long-term investments, restricted $64,800
Ending balance, unrestricted net assets $164,600