05 Jul Income Statement And Balance Sheet (1)
SHOW ALL WORK- And all calculations
Determine the amount of net operating income that would result for a hospital whose payer mix and expected volume (100 cases) is as follows:
(1)
| 30 Medicare cases | pay $2,000 per case | |||
| 30 Blue Cross Blue Shield cases | pay $2,200 per case | |||
| 20 commercial cases | pay 100 percent of charges | |||
| 10 Medicaid cases | pay average cost | |||
| 8 self-pay cases | pay 100 percent of charges | |||
| 2 charity cases | pay nothing | |||
| Average cost per case is expected to be $2,200, and the average charge per case is $2,500 | ||||
(1)
- Calculate Gross patient revenue and deductions from gross patient revenue.
- Define revenue
- Define fee for service, discounted fee for service, charity services, and payment before service is delivered. ( all written assignments must be in APA format)
(3)
Time Value of Money (TVM)
Calculate the Future Value of $1 in each of these 3 projects
TVM Exercise
Project Number of periods Interest rate
Pop 5 11%
Whistle 4 7%
Loop 3 8%
(4)
Calculate the Present Value of each of the Projects below:
Project End of period Discount rate Single cash Flow
Pop 5 11% $10,000
Whistle 15 7% 7,500
Loop 25 8% 5,000
Income Statement Preparation:
(5)
Prepare an Income Statement, in proper format, for 2015 for Johnson Medical Supplies (JMS) from the following information:
- Salaries $70,000
- Insurance $700
- Utilities $3,500
- Gas/Auto $5,750
- Office Supplies $7,250
- Revenue $175,000
- Rent $12,000
- Maintenance $50,000
(6) Calculate, define, and discuss the operating expenses, operating profit, and profit percentage.
Did JMS have a good year? Why/Why not?
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