19-3 - 70,000 E19-3 (continued) b. Sycamore Hospital...

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E19-3 Entries for a Hospital’s Unrestricted (General) Fund a. Journal entries for the general fund. 1. Accounts Receivable 6,200,000 Patient Services Revenue 6,200,000 2. Nursing Services Expense 2,070,000 Other Professional Services 1,250,000 Fiscal Services Expense 225,000 General Services Expense 1,510,000 Bad Debts Expense 125,000 Administration Expense 260,000 Depreciation Expense 500,000 Cash 4,785,000 Allowance for Uncollectibles 125,000 Accumulated Depreciation 500,000 Accounts Payable 210,000 Inventory 240,000 Donated Services 80,000 3. Contractual Adjustments 220,000 Accounts Receivable 220,000 4. Cash 180,000 Net Assets Released from Program Use Restrictions 180,000 5. Cash 200,000 Net Assets Released from Equipment Acquisition Restriction 200,000 6. Cash 155,000 Contributions – Unrestricted 155,000 7. Cash 5,905,000 Allowance for Uncollectibles 75,000 Accounts Receivable 5,980,000 8. Investment Securities 70,000 Unrealized Holding Gain on Investment Securities – Designated for Other Than Current Operations
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Unformatted text preview: 70,000 E19-3 (continued) b. Sycamore Hospital Statement of Operations For the Year Ended December 31, 20X6 Revenues, gains, and other support: Net patient services revenue $5,980,000 Contributions 155,000 Net assets released from program use restriction 180,000 Total revenues, gains, and other support $6,315,000 Expenses and losses: Nursing services $2,070,000 Other professional services 1,250,000 Fiscal services 225,000 General services 1,510,000 Bad debts 125,000 Administration 260,000 Depreciation 500,000 Total operating expenses 5,940,000 Operating income $ 375,000 Other income-0-Excess of revenues over expenses $ 375,000 Unrealized gains designated in excess of amounts for current operations 70,000 Net assets released from restrictions used for purchase of equipment 200,000 Increase in unrestricted net assets $ 645,000...
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19-3 - 70,000 E19-3 (continued) b. Sycamore Hospital...

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