Ledger Form Homework Help

Ledger Form Homework 

Ledger Form Analysis Assignment

1. Record the transactions in ledger form

2. The following transactions occurred during the year. Record these transactions.

a. HHL took out a long-term loan for $3 million.

b. HHL purchased $1 million in inventory with cash.

c. HHL purchased equipment that cost $150,000 on account. The equipment is expected to last 15 years and has no salvage value.

d. $540,865,000 (net of allowances and charity care) was billed for patient services. The hospital estimates that 5% of these bills will be bad debt.

e. $875,000 of inventory was used.

f. Donations of $400,000 were received in cash.

g. HHL pays in cash for a 2-year malpractice insurance premium at a cost of $5 million. One-half of the premium is for next year, and the other is for the following year.

h. HHL pays $12,560,000 in accounts payable.

i. HHL workers earned $259 million in wages for the year. The hospital paid out $282 million in cash. It also paid out $60 million in benefits, all in cash.

j. The equipment purchased in transaction c was paid for in cash.

k. $370,500,000 from bills sent to patients was received in cash.

l. HHL collected $25 million in outstanding patient bills in cash.

m. The board is concerned that too much debt outstanding is bad for the organization. The board chooses to accelerate their debt payments for the year. HHL paid out $51 million in long-term debt principal and $3 million of interest in cash.

n. Depreciation for the year was recorded—$23 million for existing fixed assets. Also, calculate the new depreciation necessary for the new equipment purchased this year, assuming straight-line depreciation.

o. The contract with the IT company chosen is signed. The initial contract cost is paid, as well as the first year payment.

Note: HHL stands for Happy Hospital. Your response must be submitted in a MLA format.

Get the Best affordable custom college essay for sale from HomeworkMarket

HomeworkMarket
Calculate your paper price
Pages (550 words)
Approximate price: -

Why HomeworkMarket

HomeworkMarket

Quality Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

HomeworkMarket

Qualified Writers

We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.

HomeworkMarket

Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.

HomeworkMarket

Prompt Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.

HomeworkMarket

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.

HomeworkMarket

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Homework Market

Place your order

Fill in the order form and provide all details of your assignment.

Homework Market

Proceed with the payment

Choose the payment system that suits you most.

Homework Market

Receive the final file

Once your paper is ready, we will email it to you.

HomeworkMarket Writing Services

No need to work on essay at night. Sleep tight, we will cover your back. We offer all kinds of essay writing services.

HomeworkMarket HomeworkMrket

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

HomeworkMarket HomeworkMarket

Admissions

Admission Essays

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

HomeworkMarket HomeworkMarket

Editing

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

HomeworkMarket HomeworkMarket

Revision

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied.