1. Dr. Jay is opening an emergency vet service within his community in January. He invested $425,000 cash into the business. Dr. Jay bought vet supplies, equipment, vet software, and office equipment for $200,000. In addition, there is a long-term loan for $50,000. What is his total owner’s equity?
2. A dental organization has $725,000 as an outstanding loan, for which the principal must be paid at the rate of $150,000 for the next 5 years. In the balance sheet, what would be the current portion of long-term debt and what is the remaining debt?
3. Plastic Surgery Associates buys surgical lights for $10,000. The lights have an estimated salvage value of $2,000 and a useful life of 5 years. Calculate the straight-line depreciation.
4. A large urban health maintenance organization (HMO) purchases a vacant office building to house expanded administrative functions for $300,000. Prior to using the building, renovations costing $100,000 are completed. The renovated building has an estimated useful life of 27.5 years, with no residual value. What is the annual charge for depreciation?

Course Material

Harrison, C., Harrison W. P., & Taylor, C. (2023). Introduction to Health Care Finance and Accounting (2nd Ed.). Cengage Learning

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