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Patton-Fuller Ratios

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Liquidity Ratios Current Ratio-Audited
2009 127,867/23,807= 5.37 2008 130,026/8,380= 15.52
Current Ratio-Unaudited
2009 128,867/23,807= 5.41 2008 130,026/8,380= 15.52
I disagree with the annual report because the audited and unaudited amounts are different and do not match on the financial statement. Quick Ratio-Audited
2009 81,782/23,807= 3.44 2008 79,517/8,380= 9.49
Quick Ratio-Unaudited
2009 81,782/23,807= 3.44 2008 41,851/8,380= 9.49
I agree with the annual report because both the audited and the unaudited amounts remained the same with no negative amounts. Days Cash on Hand (DCOH)-Audited
2009 148,559/9,198= 16.15/365= 0.04 2008 376,886/4,185= 90.06/365= 0.25
Days Cash on Hand (DCOH)-Unaudited
2009 149,559/9,198= 16.26/365= 0.04 2008 376,886/4,185= 90.06/365= 0.25
I agree with the annual report because both the audited and the unaudited amounts remained the same with no negative amounts. Days Receivables-Audited
2009 59,787/459,900= 0.13/365= 0.0004 2008 37, 666+87/418,509=0.09/365= 0.0002
Days Receivables-Unaudited
2009 59,787/459,900= 0.13/365= 0.0004 2008 37, 666+87/418,509=0.09/365= 0.0002
I agree with the annual report because both the audited and the unaudited amounts remained the same with no negative amounts.

Some of the amounts on the audited financial statement and the unaudited financial statement were different and did not match but several thousand dollars. The Patton-Fuller Community hospital needs to hire a financial representative who has experience with accounting in order to keep their statements and accounts compliant with positive numbers. Using the previous year as a format for how to prepare for the upcoming years is an important task that the financial department should adhere to. By increase the revenue the hospital will need to prepare by ordering more supplies, increasing wages, and preparing a petty cash fund for any miscellaneous expenses.

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