Please see the attachment and let me know if you need the copies from textbook.Finkler, S. A., Calabrese, T. D., & Ward, D. M. (2019).Accounting fundamentals for health care management.(Third ed.) Burlington, MA: World Headquarter 0 Exam I Spring 2019 Chapters 1-9 All work is to be completed in Excel along with the correct Excel formulas unless otherwise noted. Part I. 5 points Add the following columns Patient 1 Patient 2 Patient 3 Across and down $900 $100 $1,000 (show Excel formulas) $800 $200 $2,000 $700 $300 $3,000 $600 $400 $4,000 $500 $500 $5,000 Part II Prepare a statement of operations from the following 20 points relevant accounts Show Excel formulas cash $ 500,000.00 Accounts receivable $ 400,000.00 Patient revenue $ 600,000.00 Inventory $ 50,000.00 Accounts Payable $ 60,000.00 Depreciation $ 55,000.00 Labor $ 150,000.00 Interest $ 35,000.00 Interest Payable $ 41,000.00 Interest revenue $10,000.00 Property $65,000.00 III. Prepare a classified balance sheet (credit will not be given if it is not classified) 20 points from the following relevant accounts Show Excel formulas Cash $ 10,000.00 Patient receivable $ 50,000.00 Patient revenue $ 60,000.00 Prepaid Insurance $ 30,000.00 Insurance expense $ 40,000.00 Inventory (asset) $ 55,000.00 Labor $ 65,000.00 Plant and Equipment $ 100,000.00 Accounts payable $ 11,000.00 Wages payable $ 12,000.00 wage expense $ 13,000.00 Mortgage Payable $ 14,000.00 Net asset without donor restrictions $ 50,000.00 Net asset with donor restrictions ???????? Part IV. Complete the following equations. Excel formulas not need for this problem 5 points 1. Assets= $100,000, Liabilities = $41,000, Net assets =? 2. Assets=?????, Liabilities = $56,000, Net Assets = $60,000 3. Assets= $50,000, Liabilities = ??????, Net Assets= $11,000 Part V. Record the following transaction in T accounts. Excel formulas not needed 20 points 1. Billed Third party $56,000 2. Received $10,000 from transaction 1 3. Paid wages of $50,000 4. Purchased medical supplies of $40,000 on account 5. Paid the purchase in transaction 4 Part VI. Prepare a stement of cash flow INDIRECT only. 20 points Do not preapre a direct method statement. Show Excel formulas Net income $100,000 Cash December 31, 2018 $500,000 Cash December 31 2019 ??????? Depreciation Expense $1,000 Increase in inventory $2,000 Decrease in acocunts payable $3,000 Increase in Prepaid insurance $4,000 Purchsaed stock $5,000 Purcahsed land $6,000 Paid mortgage $7,000 Paid car loan $2,200 Increase in wages payable $3,300 Part VII 10 points In a couple of paragraphs (minimum 2) describe the relevance of financial statements to the healthcare industry. (what would happen if financial statemnts were not required by federal and state law)

Please see the attachment and let me know if you need the copies from textbook. Finkler, S. A., Calabrese, T. D., & Ward, D. M. (2019). Accounting fundamentals for health care management. (Third ed.)...

Please see the attachment and let me know if you need the copies from textbook.

Finkler, S. A., Calabrese, T. D., & Ward, D. M. (2019).Accounting fundamentals for health care management.(Third ed.) Burlington, MA: World Headquarter

0							Exam I
							Spring 2019

							Chapters 1-9

All work is to be completed in Excel along with the correct Excel formulas unless otherwise noted.

Part I.		5 points

Add the following columns	Patient 1	Patient 2	Patient 3
Across and down	$900	$100	$1,000
(show Excel formulas)	$800	$200	$2,000
			$700	$300	$3,000
			$600	$400	$4,000
			$500	$500	$5,000



Part II
Prepare a statement of operations from the following		20 points
relevant accounts
Show Excel formulas
cash				$ 500,000.00
Accounts receivable		$ 400,000.00
Patient revenue		$ 600,000.00
Inventory			$ 50,000.00
Accounts Payable		$ 60,000.00
Depreciation			$ 55,000.00
Labor				$ 150,000.00
Interest			$ 35,000.00
Interest Payable		$ 41,000.00
Interest revenue		$10,000.00
Property			$65,000.00

III. Prepare a classified balance sheet (credit will not be given if it is not classified)		20 points
from the following relevant accounts
Show Excel formulas
Cash				$ 10,000.00
Patient receivable		$ 50,000.00
Patient revenue		$ 60,000.00
Prepaid Insurance		$ 30,000.00
Insurance expense		$ 40,000.00
Inventory (asset)		$ 55,000.00
Labor				$ 65,000.00
Plant and Equipment		$ 100,000.00
Accounts payable		$ 11,000.00
Wages payable			$ 12,000.00
wage expense			$ 13,000.00
Mortgage Payable		$ 14,000.00
Net asset without donor restrictions	$ 50,000.00
Net asset with donor restrictions	????????




Part IV.
Complete the following equations. Excel formulas not need for this problem		5 points

1. Assets= $100,000, Liabilities = $41,000, Net assets =?
2. Assets=?????, Liabilities = $56,000, Net Assets = $60,000
3. Assets= $50,000, Liabilities = ??????, Net Assets= $11,000









Part V. Record the following transaction in T accounts. Excel formulas not needed		20 points

1. Billed Third party $56,000





2. Received $10,000 from transaction 1






3. Paid wages of $50,000




4. Purchased medical supplies of $40,000 on account





5. Paid the purchase in transaction 4






Part VI.
Prepare a stement of cash flow INDIRECT only.		20 points
Do not preapre a direct method statement.
Show Excel formulas

Net income		$100,000
Cash December 31, 2018	$500,000
Cash December 31 2019	???????
Depreciation Expense	$1,000
Increase in inventory	$2,000
Decrease in acocunts payable	$3,000
Increase in Prepaid insurance	$4,000
Purchsaed stock	$5,000
Purcahsed land		$6,000
Paid mortgage		$7,000
Paid car loan		$2,200
Increase in wages payable	$3,300


Part VII						10 points

In a couple of paragraphs (minimum 2) describe the
relevance of financial statements to the healthcare industry.
(what would happen if financial statemnts were not required by
federal and state law)

May 18, 2022

SOLUTION.PDF

Please see the attachment and let me know if you need the copies from textbook. Finkler, S. A., Calabrese, T. D., & Ward, D. M. (2019). Accounting fundamentals for health care management. (Third ed.)...

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