Health care, statement of cash flows. You are provided with a summarized version of the cash account of Lakeside Hospital, a not-for-profit organization for
|
Cash Account |
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|
Debit |
Credit |
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Cash balance, January 1, 20X7 |
275,900 |
|
|
Cash received from: Patients |
2,061,900 |
|
|
Third-party payors |
6,500,000 |
|
|
Operation of gift shop |
517,700 |
|
|
Unrestricted gifts |
323,500 |
|
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Contributions restricted for endowment |
500,000 |
|
|
Donor-restricted contributions for purchase of property |
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and equipment |
183,000 |
|
|
Early repayment of long-term debt |
242,300 |
|
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Cash paid to: Employees |
1,151,000 |
|
|
Suppliers |
6,200,000 |
|
|
Providers of consultation services |
800,000 |
|
|
Bank for interest |
147,000 |
|
|
Contractor for purchase of property |
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and equipment |
501,200 |
|
|
Cash balance, December 31, 20X7 |
$1,320,500 |
Prepare a statement of cash flows, using the direct method, for the year ended December 31, 20X7.