Complete the Balance Sheet Worksheet and Template.
Format your assignment according to APA guidelines.
University of Phoenix Material
Balance Sheet Worksheet
Consider the following scenario:
Imagine you are a manager of a small health care facility and in charge of developing an annual balance sheet to help your stakeholders understand the organization’s financial standing.
Your health care facilities figures are as follows:
Your facility has $700,000 cash on hand; $1,300,000 in accounts receivables; $175,000 in inventory; and $150,000 in supplies.
Your chief financial officer (CFO) has provided you with the following assets:
Land value |
$3,000,000 |
Property value |
$ 287,500 |
Plant value |
$ 287,500 |
Investment income (loss) |
$ 147,000 |
Equipment value |
$ 350,000 |
Your CFO has provided you with the following liabilities:
Accounts payable |
$1,400,000 |
Wages payable |
$ 480,000 |
Taxes payable |
$ 225,000 |
Loans payable |
$ 70,000 |
Bonds payable |
$ 68,000 |
Your CFO has provided you with the following owners equity:
Retained earnings |
$ 148,000 |
Stock |
$ 340,000 |
Using the ABC Health Care Balance Sheet template, complete a balance sheet in which you include the net profit (loss).
Write a 350- to 700-word executive summary that explains to the board of directors how you developed the balance sheet and its importance.
Include the following in your summary:
Cite at least 2 sources, including your textbook.
Format your assignment according to APA guidelines.
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