← Accounting Legal Ethics and Technological Concerns of Accounting →

The Financial Account

Buy custom The Financial Account essay

Listing of accounts

Classification

 

Financial statement

Accounts payable

liability

Balance sheet

Accrued employee compensation

liability

Balance  sheet

Additional paid in capital

Owners equity item

Balance sheet

Cash

Asset

Balance sheet

Common stock

Asset

Balance sheet

Consulting service compensation

Expense

Income statement

Current maturities of long term debt

Liability

Balance sheet

Depreciation expense

Expense

Income statement

Dividends

Owners’ equity

Statement of retained earnings

Federal  grants receivable

Revenue

Income statement

Impatient revenue

Revenue

Income statement

Inventories

Assets

Balance sheet

Legal and audit services

Expenses

Income statement

Long term capital lease obligation

Liability

Balance sheet

Long term notes payable

Liability

Balance sheet

Net patient receivable

Assets

Balance sheet

Other operating revenue

Revenue

Income statement

Other receivables

Assets

Balance sheet

Other expenses

Expenses

Income statement

Outpatient revenue

Revenue

Income statement

Prepaid expenses

Asset

Balance sheet

Professional services

Expenses

Income statement

Property plant and equipment

Asset

Balance sheet

Purchase service expense

Expense

Income statement

Rental expense

Expense

Income statement

Repair and maintenance expenses

Expense

Income statement

Retained earnings 12/31/03

Owners equity

Balance sheet

Retained earnings 12/31/02

Owners equity

Statement of retained earnings

Salaries expenses

Expenses

Income statement

Supplies expenses

Expenses

Income statement

Travel and conference expenses

Expenses

Income statement

Utilities expenses

Expenses

Income statement s

 

 

                                                 BLACK HAWK MEMORIAL HOSPITAL

                                                             INCOME STATEMENT

                                                 FOR THE YEAR ENDED 12/31/03

 

 

 

REVENUES

Federal grants receivable                                     367,480

Impatient revenue                                            45,125,674

Other operating revenue                                   7,800,126

Outpatient revenue                                           34,500,687

 Total revenue                                                                                                       87,793,967

 

EXPENSES

 

Consulting service compensation                           126,800

Depreciation expense                                                  89,000

Legal and audit services                                               56,780

Other expenses                                                             40,000

Professional services                                               3,760,000

Purchase service expense                                       8,642,131

Rental expense                                                            725,000

Repair and maintenance expense                        1,654,200

Salaries expenses                                                  65,126,279

Suppliers expense                                                   3,678,216

Travel and conference expense                               212,531

Utility expense                                                            982,135

  Total expenses                                                                                                             85,093,072

Net income                                                                                                                       2,700,895

 

 

 

                                             BLACK HAWK MEMORIAL HOSPITAL

                                             STATEMENT OF RETAINED EARNINGS

                                             FOR THE YEAR ENDED 12/31/03

 

Retained earnings b/d                                          32,456,987

Net income                                                                2,700,895

Less dividends

 

 

 

 

 

 

                                                    BLACK HAWK MEMORIAL HOSPITAL

                                                                    BALANCE SHEET

                                                                   AS AT 12/31/03

 

Property plant and equipment                                                               24,561,879

Inventories                                                                                                        398,050

Net patient receivable                                                                                 8,945,123

Other receivable                                                                                               456,123

Prepaid expenses                                                                                             723,563

Common stock                                                                                               1,265,000

Cash                                                                                                                 1,801,222

Total assets                                                                                                   38,150,960

Liability

Accounts payable                                                                    125,000

Accrued employee compensation                                         377,756

Current maturity of long term debt                                      150,000

Long term capital lease obligation                                        321,000

Long term notes payable                                                        458,764

Total liability                                                                                                       1,432,520

Additional paid in capital                                                         565,000

Retained earnings  12/31/03                                           36,153,440

Total                                                                                      38,150,960

 

 

The financial account contains three elements; assets, liability and the owner’s equity. According to the financial standards assets must equate liability and owner’s equity. For example assets =liability +owner’s equity. From the table given above the liabilities noted are; accounts payable, accrued employee compensation, current maturity of long term debt long term lease obligation and long term notes payable. The liabilities should be grouped into two categories; long term and short term. Liabilities which can be liquidated within a period of one year are short term.

The assets are very vital in the business. Black Hawks memorial hospital, assets exceed liability hence the concept of continuity is guaranteed. Revenues also exceed expenses therefore the firm is at a position of settling down all the expenses and the excess remains as the net income which is 2,700,895.

Buy custom The Financial Account essay

Related essays

  1. Legal Ethics and Technological Concerns of Accounting
  2. Trial Balance Questions for Accounting
  3. Accounting
  4. GAAP

First-Class Essay Examples Equal Useful Writing Tips

When browsing the web, one can come across a huge number of essay examples. Indeed, samples are very useful. When analyzing them, you will learn to format papers correctly in different reference styles. Nevertheless, in order to benefit from paper samples, you need to know how to use them appropriately. Remember that online paper examples can be used for research purposes only. You may avail of samples to understand how to organize your own piece of writing. Otherwise, they can ruin your reputation. If you use samples in the wrong way, you will not get high grades in any subject.

Do not Plagiarize

If you intend to use paper samples, do not forget about plagiarism and its consequences. You should keep in mind that the aim of college essay examples is to give you handy tips on how to deal with a specific reference style. Under no circumstances should you copy the material provided by online paper examples. In case you steal information presented in a sample, your professor may not accept your paper. Note that you may fail the admission process if the board finds out that you essay is plagiarized. You should realize that success can be achieved when submitting original pieces of writing only.

Always Read the Research Question Attentively!

If you want to use a paper sample, pay attention to the question it discusses. You should understand that a piece of writing covering the topic that is different to yours will not be of great use to you. You need to look for the scholarship essay examples related to your subject area. Thus, you will find out about the research methods that can be adopted towards examining your issue.

Beware of Hackneyed Phrases

There are many students who consider online samples reliable guidelines for writing academic works. Nevertheless, relying fully on paper examples can make your paper boring that will not differ from others. The point is that samples found on the web contain a lot of clich?s which makes them sound the same. You need to identify such phrases in order not to use them in your own work.

Distinguish between Good and Low-Quality Samples

Mind that not all college application essay examples published on the Internet are written up to the standards. A large number of samples are of poor quality. Thus, when looking through online paper examples, make sure they contain relevant information about the analyzed subject. Do not be na?ve to think all samples are perfect.

Mind the Peculiarities of Your Own Assignment

No matter the quality of the essay examples you are using, remember that you need to meet the specific requirements provided by your professor. Your academic work has to be exclusive. Mind that the paper one considers superior can be regarded as terrible by another student. That is why you need to create an outstanding piece of writing reflecting your outlook.

If you need good samples, visit BestCustomPapers.com. All our skilled writers gained education in the US universities and are eager to help you get top grades.