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assignment_currie_hospital.docxAssignment
1. Prepare and Select either the Balance Sheet or the Statement of Operations financial statement of the following details.
Note: You will not use all of these accounts in your chosen financial statement. You will need to calculate some of the numbers for your statement. Follow proper form as described and shown in the text. Assume all net assets at the beginning of the year are unrestricted.
2. In minimum 300 words essay describe
a. Why you chose the financial statement you selected
b. Purpose of the financial statement
c. Advantages of the financial statement
d. Disadvantages of the financial statement
e. Users of the financial statement
Must be in APA format including 2 References
Currie Hospital as of December 31, 2013 Account Balance Accounts payable $ 130,000 Accrued expenses $ 100,000 Accumulated depreciation $ 200,000 Administrative expenses $ 80,000 Bad debt expense $ 40,000 Cash $ 210,000 Depreciation expense $ 50,000 Gross plant & equipment $ 6,000,000 Interest expense $ 12,000 Inventories $ 100,000 Labor expense $ 260,000 Long-term debt $ 5,000,000 Net accounts receivable $ 650,000 Net assets released from temporarily restricted accounts for operation $ 120,000 Net patient service revenue $ 840,000 Other current liabilities $ 70,000 Supply expense $ 88,000
Currie Hospital as of December 31, 2013
Account Balance
Accounts payable $ 130,000
Accrued expenses $ 100,000
Accumulated depreciation $ 200,000
Administrative expenses $ 80,000
Bad debt expense $ 40,000
Cash $ 210,000
Depreciation expense $ 50,000
Gross plant & equipment $ 6,000,000
Interest expense $ 12,000
Inventories $ 100,000
Labor expense $ 260,000
Long-term debt $ 5,000,000
Net accounts receivable $ 650,000
Net assets released from temporarily restricted accounts for operation $ 120,000
Net patient service revenue $ 840,000
Other current liabilities $ 70,000
Supply expense $ 88,000
Sheet1
| Currie Hospital as of December 31, 2013 | |
| Account | Balance |
| Accounts payable | $ 130,000 |
| Accrued expenses | $ 100,000 |
| Accumulated depreciation | $ 200,000 |
| Administrative expenses | $ 80,000 |
| Bad debt expense | $ 40,000 |
| Cash | $ 210,000 |
| Depreciation expense | $ 50,000 |
| Gross plant & equipment | $ 6,000,000 |
| Interest expense | $ 12,000 |
| Inventories | $ 100,000 |
| Labor expense | $ 260,000 |
| Long-term debt | $ 5,000,000 |
| Net accounts receivable | $ 650,000 |
| Net assets released from temporarily restricted accounts for operation | $ 120,000 |
| Net patient service revenue | $ 840,000 |
| Other current liabilities | $ 70,000 |
| Supply expense | $ 88,000 |
| Transfer to parent corporation | $ 10,000 |
