I need help with an accounting question. I am confused at where the calculations go
I need help with an accounting question. I am confused at where the calculations go and the book does not help. I
would appreciate any assistance you can provide.
The attached is the assignment and the excel template . It has a tab for balance sheet, profit and loss statement, and cash flow statement.
PLEASE HELP!!!!
Healthcare Financial Management and EconomicsWeek 7 Assignment — Putman Medical CenterDeveloping Financial StatementsAll organizations, including those in the healthcare industry, need to make money to beprofitable and survive. Financial statements, such as balance sheets, profit and lossstatements, and cash flow statements, summarize an organization’s profitability andoverall financial status. For this Assignment, you practice developing three key financialstatements using data from the Putman Medical Center.Putman Medical CenterPutman Medical Center is a large Midwestern acute care and ambulatory facility servingan urban city population.Givens (in ‘000s):Insurance expense$70,000Cash$23,000Patient revenues (net of contractuals)$614,000Net accounts receivable$25,000Ending balance, temporarily restricted net assets$8,700Wages payable$9,100Prepaid expense$1,100Long-term debt$191,700Supply expense$66,000Gross plant, property, and equipment$556,000Net assets released from temporary restriction$8,000Depreciation expense$10,000General expense$95,000Transfer to parent corporation($8,000)Beginning balance, unrestricted net assets$203,400Accounts payable$21,000Beginning balance, temporarily restricted netassets$16,700Provision for bad debt expense$5,400Labor expense$145,000Accumulated depreciation$99,000Long-term investments$150,400Ending balance, unrestricted net assets$426,000To prepare for this Assignment:Examine the data from Putman Medical Center. Reflect on how you will use this data todevelop a Balance Sheet, Profit and Loss Statement, and Cash Flow Statement. Referto the course text for additional guidance.© 2015 Laureate Education, Inc.Page 1 of 2
The Assignment:Complete a Balance Sheet, Profit and Loss Statement (Statement of Operations), andCash Flow Statement (Statement of Changes in Net Assets) usingthe “Week 7Financial Statement Excel Template”.Your Assignment is due byDay 7 of Week 7.© 2015 Laureate Education, Inc.Page 2 of 2
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