Team Project M I1.1: Cure All Hospital (CAH) started 2017 with the balance sheet
ID: 2555587 • Letter: T
Question
Team Project M I1.1: Cure All Hospital (CAH) started 2017 with the balance sheet below which is the balance sheet for 2016. During 2017, CAH reported fourteen financial transactions as also shown below. Create a transactions worksheet in an Excel file, which records all the transactions. Create balance sheets (for 2016 and 2017), an activity statement (for 2017), and a cash flow statement (for 2017) of CAH in a Word file. You should compare the 2017 balance sheet with the 2016 balance sheet below. For the activity statement and cash flow statement, you can only use the 2017 results. By using all these sets of information, provide your evaluation of financial performance of CAH for 2017 in your Word file.Explanation / Answer
Transaction Worksheet.
$
Assets
Liabilities and Net Assets
Liabilities
Net Asset.
A
B
C
D
E
F
G
H
I
J
K
Opening Balance
96,000
12000
6000
100
456,000
8100
78,000
211,000
141,000
62,000
70,000
T1
-300
300
T2
-7,000
-7,000
T3
-3,000
3,000
T4
6,000
60,00
T5
11,000
-11,000
T6
20,000
56,000
-2,000
74,000
T8
-85,000
-50,000
-35,000
T9
-5,000
-5,000
T10
-25,000
-8,000
-17,000
T11
-150
-150
T12
33,000
-33,000
T13
-11,000
-11,000
Closing Balance
1700
57,000
13,000
250
445,000
2100
61000
203,000
118850
62,000
70,000
Colum
Explanation
A
Cash
B
Accounts Receivables
C
Inventory
D
Prepaid insurance
E
Property Plant And Equipment
F
Accounts payable
G
Wages Payable
H
Mortgage payable
I
Unrestricted
J
Temporary restricted
K
Permanently Restricted
Working Note.
All Expenses are charged Against unrestricted reserve and profits added with unrestricted reserve.
Service provided = cash +b/r-inventory = unrestrinted asset
$20,000+$56,000-$2,000=$74,000
$
Assets
Liabilities and Net Assets
Liabilities
Net Asset.
A
B
C
D
E
F
G
H
I
J
K
Opening Balance
96,000
12000
6000
100
456,000
8100
78,000
211,000
141,000
62,000
70,000
T1
-300
300
T2
-7,000
-7,000
T3
-3,000
3,000
T4
6,000
60,00
T5
11,000
-11,000
T6
20,000
56,000
-2,000
74,000
T8
-85,000
-50,000
-35,000
T9
-5,000
-5,000
T10
-25,000
-8,000
-17,000
T11
-150
-150
T12
33,000
-33,000
T13
-11,000
-11,000
Closing Balance
1700
57,000
13,000
250
445,000
2100
61000
203,000
118850
62,000
70,000
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