List and record each transaction for the Claymont Outpatient Clinic under the accrual basis of acc Show more List and record each transaction for the Claymont Outpatient Clinic under the accrual basis of accounting at December 31 20X1

List and record each transaction for the Claymont Outpatient Clinic under the accrual basis of acc Show more List and record each transaction for the Claymont Outpatient Clinic under the accrual basis of accounting at December 31 20X1. Then develop a balance sheet as of December 31 20X1 and a statement of operations for the year ended December 31 20X1. The clinic received a $10000000 unrestricted cash contribution from the community. (Hint: this transaction increases the unrestricted net assets account.) The clinic purchased $4500000 of equipment. The clinic paid cash for the equipment. The clinic borrowed $2000000 from the bank on a long-term basis. The clinic purchased $550000 of supplies on credit. The clinic provided $8400000 of services on credit. In the provision of these services the clinic used $420000 of supplies.
The clinic received $800000 in advance to care for capitated patients. The clinic incurred $4500000 in labor expenses and paid cash for them. The clinic incurred $2230000 in general expenses and paid cash for them. The clinic received $6000000 from patients and their third parties in payment of outstanding accounts. The clinic met $440000 of its obligation to capitated patients (transaction The clinic received $800000 in advance to care for capitated patients.). The clinic made a $400000 cash payment on the long-term loan.
The clinic also made a cash interest payment of $40000. A donor made a temporarily restricted donation of $370000 which is set aside in temporary investments. The clinic recognized $400000 in depreciation for the year. The clinic estimated that $850000 of patient accounts would not be received and established a provision for bad debt. Statement of operations. The following is a list of account balances for Krakower Healthcare Services Inc. on December 31 20X1. Prepare a statement of operations as of December 31 20X1. (Hint: when net assets are released from restriction the restricted account is decreased and the unrestricted account is increased.
It is recognized under revenues gains and other support.) Givens Givens Supply expense $60000 Transfer to parent corporation $18000 Provision for bad debt expense $10000 Depreciation expense $35000 Labor expense $80000 Interest expense $7000 Administrative expense $50000 Net patient service revenues $220000 Net assets released from restriction $30000 Statement of cash flows. The following is a list of account balances for Hover Hospital on June 30 20X1. Prepare a statement of cash flows as of June 30 20X1. Givens Givens Transfer to parent corporation $40000 Proceeds from sale of fixed equipment $2290000 Principal payment on bonds payable $780000 Purchase of fixed equipment $5300000 Beginning of cash balance $6500000 Cash from operating activities $3900000 Principal payment on notes payable $6500 Show less