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Assignment: Developing Financial Statements All organizations, including those in the health care industry, need to make money to be profitable and survive. Financial statements, such as balance...

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Assignment: Developing Financial Statements

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 Excel Template”.

I attached the document for this Assignment

Answered Same Day Jul 09, 2020

Solution

Aarti J answered on Jul 11 2020
143 Votes
Balance Sheet
    Balance Sheet (in '000s)
    For the Year Ended September 30, 2016
        9/30/16
    Cu
ent assets
     Cash and cash equivalents    $12,600
     Net accounts receivable    15,300
     Inventory    4,400
    Total cu
ent assets    32,300
    Gross plant, property, and equipment    175,000
     (less accumulated depreciation)    (35,000)
    Net plant, property & equipment    140,000
    Long-term investments     64,800
    Total assets    $237,100
    Cu
ent liabilities
     Accounts payable     $12,000
     Wages payable    7,800
    Total cu
ent liabilities    19,800
    Long-term debt    39,000
    Total liabilities    58,800
    Net assets
     Ending balance, unrestricted net...
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