MGT 278C Project 1
\nNNS Hospitals Ltd. is a publicly owned company which owns a chain of hospitals. The Stability Sheet of NNS as of 31\/three\/2015 is given under:
\nLiabilities and Homeowners\u2019 Fairness
\nAccounts Payable\t\t120,000
\nSalaries Payable\t\t10,000
\nProvision for Taxes (2013-14)\t\t90,000
\nProvision for Taxes (2014-15)\t\t100,000
\neight% Financial institution Mortgage\t\t160,000
\nShare Capital\t\t400,000
\nShare Premium\t\t200,000
\nRetained Earnings\t\t20,000
\nTOTAL\t\t1,100,000<\/p>\n
Property
\nMoney\t\t80,000
\nInventories of Medical Provides\t\t120,000
\nAccounts Receivable\t100,000
\nMuch less: Allowance for Uncertain Money owed\t-5,000\t95,000
\nAdvance Taxes Paid (2013-14)\t\t95,000
\nAdvance Taxes Paid (2014-15)\t\t100,000
\nPay as you go Insurance coverage\t\t20,000
\nInvestments in 10% Authorities Bonds \t\t200,000
\nLand\t\t150,000
\nConstructing\t200,000
\nMuch less: Amassed Depreciation\t-20,000\t180,000
\nGear\t100,000
\nMuch less: Amassed Depreciation\t-40,000\t60,000
\nTOTAL\t\t1,100,000<\/p>\n
Majority of the money funds and receipts made through the 12 months are given under:
\nMoney Receipts\t\tMoney Funds
\nWhole Money Collected from Sufferers\t700,000\tMoney Paid for Workers Salaries\t110,000
\nCuriosity Obtained on Govt. Bonds \t20,000\tMoney Paid for Accounts Payable\t300,000
\nSale of Gear (31\/12\/2015)\t15,000\tMoney Paid for Utilities\t50,000
\nDividends acquired\t5,000\tMortgage Repaid (31\/three\/2016)\t20,000
\nDocs Honorarium\t140,000
\nGear Buy (30\/9\/2015)\t30,000
\nAdvance Tax Paid\t100,000
\nDividends paid\t50,000
\nFunding in Inventory of ND Co.\t20,000<\/p>\n
Further Particulars:
\n1. NNS offers companies to sure sufferers on a credit score foundation. Throughout the present monetary 12 months, $300,000 price of companies was offered to such sufferers on a credit score foundation and $310,000 was collected from such sufferers. On account of poor monetary situation of sure sufferers, $6,000 was written-off as dangerous money owed in March 2016. $2,000 price of beforehand written-off quantities was collected in January 2016. The agency needs to keep up a stability of 5% of year-end Accounts Receivable as an allowance for uncertain money owed.<\/p>\n
2. NNS purchases all stock of medical provides on credit score. The entire buy within the present monetary 12 months amounted to $250,000. The ending stability of stock of medical provides was $90,000.<\/p>\n
three. The curiosity on eight% Financial institution Mortgage is accrued, however as a result of a laptop glitch, couldn’t be paid until 10th April 2016. The company needed to pay a penalty of $10,000 together with the curiosity on 10th April 2016 for late fee of curiosity. The penalty turns into due within the 12 months of default.<\/p>\n
four. The tools has a helpful life of 5 years and Constructing has a helpful life of 10 years. The tools that was offered on 31\/12\/2015 was two years outdated at first of the 12 months and had a historic price of $20,000.<\/p>\n
5. Salaries for the final two weeks of March 2015 might be paid on fifth April 2016. Such salaries amounted to $15,000. Salaries payable for earlier years have been paid off within the present 12 months.<\/p>\n
6. The pay as you go insurance coverage is legitimate for one more 15 months ranging from 1\/four\/2015.<\/p>\n
7. Tax Assessment for the years 2013-14 and 2014-15 was accomplished within the present 12 months and the tax was assessed to be Rs. 100,000 for 2013-14 and 95,000 for 2014-15. Shortfall (refund), if any, was paid (acquired) through the 12 months 2015-16. Provision for taxes for the present 12 months is 25% of Revenue earlier than Tax.<\/p>\n
eight. 10,000 new shares have been issued. The face worth of shares was $1 and Market worth was $20.<\/p>\n
Based mostly on the above data, put together the Stability Sheet, Earnings Assertion, and Money Movement Assertion (Use Oblique Methodology) for the 12 months ended on 31\/three\/2016.<\/p>\n
—<\/p>\n
Project 1 for MGT 278C
\nNNS Hospitals Ltd. is a publicly traded company that owns a hospital chain. The next is NNS’s Stability Sheet as of 31\/three\/2015:
\nAccounts for Liabilities and Homeowners’ Fairness Payable 120,000 sSalaries Payable Provision for Taxes of $10,000 (2013-14) Tax Provision of $90,000 (2014-15) 100,000 eight% Financial institution Mortgage 160,000 Share Capital 400,000 Share Premium 200,000
\nEarnings Retained 20,000
\nTOTAL 1,100,000
\nProperty sCash
\n80,000 Medical Provide Inventories
\nAccounts Receivable: 120,000
\n100,000 Much less: Provision for Uncertain Money owed -5,000
\nTaxes Paid in Advance: 95,000 (2013-14)
\nTaxes Paid in Advance: 95,000 (2014-15)
\nPay as you go Insurance coverage for $100,000
\n20,000 in 10-percentage-point authorities bonds
\n200,000 sLand 150,000 sBuilding 200,000 sLess: Amassed Depreciation -20,000 180,000 Gear $100,000 Much less: Amassed Depreciation -40,000 60,000 TOTAL 1,100,000<\/p>\n
The overwhelming majority of money funds and<\/p>\n","protected":false},"excerpt":{"rendered":"
MGT 278C Project 1 NNS Hospitals Ltd. is a publicly owned company which owns a chain of hospitals. The Stability Sheet of NNS as of\u2026<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[648,647,646],"tags":[649,652,651,650,659,658,42,660,661,657,655,656,653,654],"class_list":["post-20719","post","type-post","status-publish","format-standard","hentry","category-uk-research-essays","category-usa-essays","category-write-my-essay-today","tag-write-my-dissertation-in-a-week","tag-write-my-dissertation-ireland","tag-write-my-dissertation-literature-review","tag-write-my-dissertation-proposal","tag-write-my-essay-4-me","tag-write-my-essay-for-cheap","tag-write-my-essay-free","tag-write-my-essay-today","tag-write-my-essay-uk","tag-write-my-research-paper-for-cheap","tag-write-my-research-paper-free","tag-write-my-research-paper-proposal-for-me","tag-write-my-thesis-paper-for-me","tag-write-my-thesis-proposal"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/20719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/comments?post=20719"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/20719\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=20719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=20719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=20719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}