Question

Assignment 1 - Balance Sheet and Income Statement Exercise
Instructions:
Use the assignment data to complete/fill in the Balance Sheet and Income Statement
Assignment Data
Account	Amount		Account	Amount
Accounts Payable	300,000		Salaries and Benefits	500,000
Patient Service Revenues	1,000,000		Depreciation Expenses	100,000
Accrued Expenses	200,000		Cash	200,000
Charity Care	(25,000)		Contractual Allowances	(250,000)
Provision for Bad Expense	(40,000)		Equity	2,500,000
Accounts Receivables	300,000		Buildings and Equipment, Net	2,500,000
Balance Sheet
Assets	Amount		Liabilities	Amount
Current Assets			Current Liabilities
Total Assets
Income Statement
Revenues	Amount
Net Patient Service Revenue
Expenses	Amount
Total Expenses
Net Income (Loss)

Answer 1