How would the balance sheet differ if it were a not-for-profit hospital?

Review the Balance Sheet in the Financial Statements tab under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization on your student website. Notice that Patton-Fuller is a for-profit entity. 

 

 

Patton – Fuller Community Hospital
Balance Sheet
2009 – 2008
(In Thousands)
(Unaudited)
  2009 2008
Assets    
Current Assets    
Cash and Cash Equivalents $22,995 $41,851
Assets of Limited Use 27,594 41,851
Patient Accounts Receivable
(net of Allowance for Bad Debts
2009: $10,757   2008: $6,777)
59,787 37,666
Other Receivables
(3rd party payer settlements)
87
Inventories 18,396 8,370
Prepaid Expenses 95 201
Total Current Assets $128,867 $130,026
Other Assets    
Funded Depreciation $137,970 $167,404
Held under Bond Indenture 73,584 75,332
Property, Plant and Equipment, net 248,346 175,774
Total Assets $588,767 $548,535
 
Liabilities and Equity    
Current Liabilities    
Current portion of long-term debt $14,599 $4,185
Accounts payable, accrued expenses 9,198 4,185
Bond interest payable 10 10
Total Current Liabilities $23,807 $8,380
Other Liabilities    
Long-term debt $452,945 $209,255
less: current portion of long-term debt 14,599 4,185
Net long-term debt $438,346 $205,069
Total Liabilities $462,153 $213,450
 
Equity    
Common Stock, $ 0.01 par value
10,000,000 shares authorized
5,000,000 shares outstanding
$50 $50
Additional paid-in capital 0 0
Retained Earnings (or “Net Worth” or “Unrestricted Fund Balance”) 126,564 335,035
Total Liabilities and Equity $588,767 $548,535
 
Note: Maximum Annual Debt Service    
Bond interest payable $10 $10
Current portion of long term debt 14,599 4,185
Maximum Annual Debt Service $14,609 $4,195
 
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