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70 Healthcare Applications: A Casebook in Accounting and Financial Management Summary transaction data...

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Accounting

70
Healthcare Applications: A Casebook in Accounting and Financial Management
Summary transaction data for the entire fiscal year 2016 follows:
The hospital earned $100,000,000 in revenues, of which 95 percent was collected in cash and 5 percent remained in receivables and uncollected.
Operating expenses totaled $95,000,000, of which all but $4,000,000 has been paid by fiscal year-end.
A $5,000,000 payment on the principal of the bonds payable was made.
$2,000,000 of new equipment was purchased for cash.
Assignment
Update the financial statements for the 2016 transaction data while ignoring any other possible changes in the accounts or adjusting entries. Prepare the following:
A fiscal 2016 operations statement
A fiscal 2016 cash flow statement using the assumption that all 2014 and 2015 current assets were held in the form of cash and cash equivalents
A December 31,2016, balance sheet
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