Complete the Balance Sheet Worksheet and Template.
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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:
Explain the process for creating a balance sheet.
Explain the total assets, liabilities, and net worth (loss).
Explain the use of profitability, liquidity, and debt ratios.
Cite at least 2 sources, including your textbook.
Format your assignment according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
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