Given the following information, prepare an income statement for the Dental Drilling Company.         Selling and administrative expense $ 113,000 Depreciation expense   77,000 Sales   556,000 Interest expense   40,000 Cost of goods sold   208,000 Taxes   51,000

Presented below is information for Novak Depot for 2022. Interest expense   $35,500   Operating expenses   $206,000 Interest revenue   42,500   Cost of goods sold   667,100 Net sales   953,000   Loss on disposal of equipment   3,000 Prepare a single-step income statement, a multiple-step income statement, and compute the gross profit rate. (List other revenues before other expenses. Round Gross profit rate to 2 decimal places, eg. 25.20) NOVAK DEPOT.Income Statementchoose the accounting period                                                           For the Year Ended December 31, 2022December 31, 2022For the Month Ended December 31, 2022 select an opening name for section one                                                           Total ExpensesExpensesIncome from OperationsRevenuesOther Expenses and LossesSalesDrawingsOwner's Capital, January 1, 2020Other Revenues and GainsNet SalesGross ProfitNet Income / (Loss)Owner's Capital, December 31,…

The following represents the aging of contributions receivable for McKenzie Health Foundation for the historical years ended June 30, 2020, 2019, 2018, 2017, 2016, and 2015. Contributions receivable vary significantly by year; however, contribution revenue has been fairly stable over the five-year period.   Fiscal Year-End   6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Total contributions receivable $1,003,900 $1,225,650 $913,550 $1,907,700 $625,800 $483,750 Allowance for uncollectible contributions 31,689 40,100 29,327 68,870 21,903 19,530 Total contribution revenue 20,066,850 20,960,895 19,094,525 21,011,340 20,879,860 20,571,300 Aging of contributions receivable             0–30 days $546,000 $394,800 $457,800 $1,547,700 $625,800 $456,750 31–60 days 23,400 383,400 261,000 360,000 0 27,000 61–90 days 389,500 447,450 194,750 0 0 0 >90 days 45,000 0 0 0 0 0   $1,003,900 $1,225,650 $913,550 $1,907,700 $625,800 $483,750 a) Prepare a report…

At December 31, 2015, Johnston and Johnston reported in its balance sheet as part of accumulated other comprehensive income a net loss of $37 million related to its postretirement benefit plan. The actuary for J&J increased her estimate of J&J’s future health care costs at the end of 2016. J&J’s entry to record the effect of this change will include a. a debit to other comprehensive income and a credit to postretirement benefit liability. b. a debit to postretirement benefit liability and a credit to other comprehensive income. c. a debit to pension expense and a credit to postretirement benefit liability. d. a debit to pension expense and a credit to other comprehensive income.

Multiple statements. The following are account balances (in thousands) for Lima Health Plan. Prepare (a) a balance sheet and (b) an income statement for the year ended December 31, 20 X0. Givens (in '000s) Income tax benefit of operating loss $ 12,000 Net property and equipment Physician services expense $244,000 Premium revenue $225,000 Marketing expense $21,000 Compensation expense, $15,000 Interest income and other revenue, $9,000 Outside referral expense, $7,000 Medicare revenue, $160,000 Occupancy and depreciation expense $1,000 Medical claims payable, $57,000 Accounts receivable, $1,500 Emergency room expense, $24,000 Inpatient services expense $191, 000 Interest expense $1,000 Medicaid revenue $55,000 Stockholders' equity $71, 700 Cash and cash equivalents $127,000 Long-term debt $2,800 Other administrative expense $1,400

Harrington Hospital provides you with the following information that relates to its financial position at August 31, 20X2, and its operating results for the year then ended: Accounts payable Nonoperating income Accounts receivable Deferred income Long-term investments Nursing services expenses Bonds payable (due 20X9) Daily patient services revenues Fiscal and administrative services expenses Cash Notes payable Land, buildings, and equipment Deductions from patient services revenues Prepaid expenses Other professional services expenses Other professional services revenues Accrued expenses payable Accumulated depreciation Inventory Hospital net assets, August 31, 20X1 Other operating revenues General services expenses $ 430 190 2,950 60 590 4,300 4,100 6,830 1,600 340 180 8,600 970 70 2,900 4,560 820 3,200 240 3,660 630 2,100 Prepare, in good form, (question 1) a statement of operations for Knight Hospital for the year ended August 31, 20X2, and (question 2) a balance sheet for Knight…

How do you figure: Income from continuing Operation and Discontinued Operation for this problem? Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year ends on December 31):      2021   2020 Sales revenue $ 4,400,000 $ 3,500,000 Cost of goods sold   2,860,000   2,000,000 Administrative expense   800,000   675,000 Selling expense   360,000   302,000 Interest revenue   150,000   140,000 Interest expense   200,000   200,000 Loss on sale of assets of discontinued component   48,000   —    On July 1, 2021, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30, 2021, for $48,000 less than their book value. Results of operations for the component (included in the above account balances) were as follows:     1/1/2021–9/30/2021   2020   Sales revenue   $ 400,000       $ 500,000   Cost…

A Record the gross charges for patient services, all charged to Patient Accounts Receivable, amounting $1,675,000.   B Record the estimated contractual adjustments for patient services with third-party payors amounting $405,000.   C Record the hospital estimated implicit price concessions would total $35,000.   D Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts.   E Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000.   F Record the cash gifts restricted by the donor for programs amounting $32,000 for the year.   G Record the $50,000 technician salaries supporting the program.   H Record the reclassification of assets in satisfaction of program restrictions.   I Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used.   J During the year, the hospital received, in cash, unrestricted…

Projected revenue for year 20X1 is as follows: $823,155 in January, $685,546 in February, $454,050 in March, and $811,904 in April. Historical net revenues categorized by payer: Payer Revenue Percent Medicare 8,931,228 Medicaid 11,906,868 Blue Cross 10,159,306 Private 5,082,192 Total ? Collection patterns by payer: Payer Within 1 Month Within 2 Months Within 3 Months Within 4 Months Total Medicare 18% 26% 28% ? 100% Medicaid 6% 20% 49% ? 100% Blue Cross 11% 43% 26% ? 100% Private 59% 28% 6% ? 100% How much revenue do we expect to collect in total in March? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Omit the "$" sign and commas in your response. For example, $12.3456 should be entered as 12.35.)