You are the financial manager for a small outpatient clinic. Due to the passage of the Affordable Care Act, your organization was required to change insurance companies to meet the guidelines and expe
Unit 3 Assignment 1: Budget Proposal Memo – Balance Sheet
| ASSETS | 2016 | 2017 | |
| Current Assets: | |||
| Cash and cash equivalents | $125,000 | $200000 | |
| Short-term investments | $575 | $600 | |
| Accounts receivable | $1500 | $1700 | |
| Inventories | $135 | $150 | |
| Total Current Assets | $127210 | $202450 | |
| Investments: | $800 | $850 | |
| Property & Equipment: | |||
| Medical equipment | $600 | $650 | |
| Office equipment | $250 | $800 | |
| Total | $850 | $1450 | |
| Accumulated depreciation | ($126) | ($135) | |
| Total Assets: | $128734 | $204615 | |
| LIABILITIES & EQUITY | |||
| Current Liabilities: | |||
| Salaries | $175000 | $225000 | |
| Benefits | $1750 | $2500 | |
| Accrued expenses | $1100 | $1200 | |
| Bad debt | $375 | $1500 | |
| Total current liabilities | $178225 | $230200 | |
| Long-Term Debt | $1500 | $1500 | |
| Total Liabilities & Equity | $179725 | $231700 |
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