- Description
HCS 405 Week 3 Balance Sheet Worksheet and Template
Complete the Balance Sheet Worksheet and Template.
Format your assignment according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
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.