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This assignment have 2 parts 1. balance sheet income statement and statement of cash flows

2. Paper analizes the balance sheet and the statement of operations

Prepare balance sheet, cash flow, net worth, and profit/loss statements.  Prepare journal entries.

 Generate standard financial reports for use in financial and operational decision making.

Create a double entry bookkeeping post for each of the business transactions listed below.

Business Transactions: 1. $15,000 worth of supplies is purchased with cash. 2. Wages due to employees that had been previously recorded as a liability are now paid in cash in the amount of $30,000. 3. Paid $300 cash for malpractice insurance. 4. $10,000 worth of supplies is purchased on account. 5. Bills are submitted to insurance companies in the amount of $45,000 for services rendered to patients. 6. Cash payments of $25,000 are received for services previously provided and billed. 7. Paid monthly rental fee on medical equipment, $680. 8. Paid cash for new medical equipment, $350. 9. Paid cash to establish a petty cash fund, $150. 10. Bought office supplies on account for $50. 11. Paid cash for advertising in local paper, $110. 12. Paid cash for miscellaneous expense, $48. 13. Bought equipment supplies on account from Electronics Unlimited, $175. 14. Paid cash for repair of equipment, $92. 15. Provided medical services to patient, received cash, $450.

Select the appropriate account from the chart of accounts: Supplies, Cash, Wages, Accounts Payable, Accounts Receivable, Patient Service Revenue, Prepaid Insurance, Rent Expense, Medical Services, Medical Equipment, Repair Expense, Equipment, Petty Cash Fund, Advertising, and Miscellaneous Expense.