ACCOUNTING F/GOV.+NON...(LL)
18th Edition
ISBN: 9781266785580
Author: RECK
Publisher: MCG
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Question
Chapter 16, Problem 21EP
a.
To determine
Prepare
b.
To determine
Prepare the ‘revenues, gains, and other support without donor restrictions section’ of Hospital E statement of operations for the current year.
c.
To determine
Indicate and explain the statement under which the restricted contributions will be reported.
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During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution:
Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000.
Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts.
Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000.
Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits).
Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used.
During the year, the…
During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution:
Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000.
Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts.
Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000.
Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits).
Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used.
During the year, the…
During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution:
Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000.
Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts.
Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000.
Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits).
Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used.
During the year, the…
Chapter 16 Solutions
ACCOUNTING F/GOV.+NON...(LL)
Ch. 16 - Prob. 1QCh. 16 - Prob. 2QCh. 16 - Prob. 3QCh. 16 - Prob. 4QCh. 16 - What is an example of a performance indicator and...Ch. 16 - Prob. 6QCh. 16 - Prob. 7QCh. 16 - What are assets limited as to use and how do they...Ch. 16 - Prob. 9QCh. 16 - Prob. 10Q
Ch. 16 - Prob. 11QCh. 16 - Prob. 12CCh. 16 - Prob. 17.1EPCh. 16 - Prob. 17.2EPCh. 16 - Which of the following is a true statement...Ch. 16 - Prob. 17.4EPCh. 16 - Prob. 17.5EPCh. 16 - Prob. 17.6EPCh. 16 - Prob. 17.7EPCh. 16 - Wellness Psychiatric Clinic received a large...Ch. 16 - Prob. 17.9EPCh. 16 - Prob. 17.10EPCh. 16 - Prob. 18EPCh. 16 - Prob. 19EPCh. 16 - The Kyle Sports Medicine facility is a...Ch. 16 - Prob. 21EPCh. 16 - Prob. 22EPCh. 16 - Prob. 23EPCh. 16 - Prob. 24EPCh. 16 - Prob. 25EP
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