Explains how you developed the balance sheet

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Reference no: EM131940245

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.

Reference no: EM131940245

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