Creating a Balance Sheet for a Professional Medical Corporation
When creating a balance sheet for a professional medical corporation, include records of the assets, liabilities and owner's equity, as well as assets centered around the property, plants and equipment. Develop a medical corporation balance sheet with information from an accounting professor in this free video on business.
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Hi, my name is Shawn Jones, adjunct professor at Argosy University. Today, we're discussing how to prepare a balance sheet for a professional medical corporation. Every balance sheet needs a couple of basics that are provided within. A balance sheet is a record or at a point in time what are the assets, liabilities, and owner's equity of a given company. Now, within a given medical organization, there are going to be various assets centered around property, plants, and equipment, along with cash accounts, inventories, and receivables that a medical corporation is going to need to provide, especially when it comes to accounts receivable and being able to keep track of the money that is due from its customers or other business transactions. On the liability side, being able to keep track of the payments that are due on such things as property, plant, and equipment are going to become essential for the medical corporation or organization to be able to function properly. For more information about this topic, please visit our website at argosy.edu. There, you can find our phone number or an address to come and visit our Salt Lake City campus.