{"id":3018,"date":"2020-11-09T09:27:04","date_gmt":"2020-11-09T09:27:04","guid":{"rendered":"http:\/\/onlineclassesguru.com\/?p=3018"},"modified":"2020-11-09T09:27:04","modified_gmt":"2020-11-09T09:27:04","slug":"case-13-3-north-side-hospital","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/09\/case-13-3-north-side-hospital\/","title":{"rendered":"Case 13.3: North Side Hospital"},"content":{"rendered":"<style type=\"text\/css\"><\/style><p><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">To make sure sufficient cash is on hand to meet monthly operational needs, North Side Hospital forecasts its monthly cash flows and short-term financing needs.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">You have been asked to prepare a cash forecast (budget) for the months of January, February, and March of 2016 using the data provided below:<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">Patient revenues (all revenues are initially recorded as a receivable) and expenses forecasted for the first three months of 2016 are as follows:<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">\u0095Historical cash collections from patient revenues are as follows:<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">50% in month of service<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">20% in month after service<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">15% in second month after service<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">15% uncollectible (contractual allowances and bad debts)<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">\u0095To encourage prompt payment, the hospital gives a 2 percent discount if payment is made within the month of service. (Note: The 2 percent discount applies to all the 50 percent paid in the month of service.)<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">\u0095The accounts receivable balance at December 31, 2015, was $40,000, of which<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">$15,000 represented uncollected November revenues and $25,000 represented uncollected December revenues.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">\u0095Expenses are paid 50 percent in the month they are incurred and 50 percent in the following month. December expenses were $150,000.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">\u0095Cash balance at January 1, 2016, was $40,000, and this is the minimum desired balance. To maintain this balance, any monthly cash shortfalls will be covered via an automatic short-term loan from the bank via a line of credit.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">Assignment<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">Prepare a cash forecast (budget) for the months of January, February, and March. Use the cash budget form on the next page.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">1. Enter the gross receivable for each month in the first column.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">2. Calculate when and in what amounts the $15,000 November revenues receivable bal\u00adance will be collected, and enter this information in the form. Enter the amount that will not be collected in the c 15% Not Collected)) column.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">3. Calculate when and in what amounts the $25,000 December revenues receivable bal\u00adance will be collected, and enter this information in the form. Enter the amount that will not be collected in the cc15% Not Collected)\u2019 column.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">4. Calculate when and in what amounts the January, February, and March revenues will be collected, and enter this information in the form. Enter the amount that will not be collected in the cc15% Not Collected)\u2019 column.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">5. Enter the early-payment 2 percent discount in each column to the extent appropriate.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">6. Total the monthly cash inflows for January, February, and March.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">7. Enter the expense cash payments for December, January, February, and March in the appropriate columns.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">8. Subtract the expense payments from total cash inflows to calculate the monthly cash change.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">9. Add the monthly cash change to the cash balance, beginning, to calculate the cash from financing needed to maintain the ta\u2019&gt;\u2019;!Jet cash balance, ending, of $40,000.<\/span><br style=\"box-sizing: border-box; color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\" \/><span style=\"color: #707070; font-family: 'Didact Gothic', Helvetica, Arial, Lucida, sans-serif; font-size: 15px; background-color: #ffffff;\">10c Total out the various columns to check for mechanical errors.<\/span><\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>To make sure sufficient cash is on hand to meet monthly operational needs, North Side Hospital forecasts its monthly cash flows and short-term financing needs.You have been asked to prepare a cash forecast (budget) for the months of January, February, and March of 2016 using the data provided below:Patient revenues (all revenues are initially recorded&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3018","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - 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