Chapter_18_XLSol

Chapter_18_XLSol - Student Name Instructor Class McGraw-Hill/Irwin Problem 18-34 Local Not-for-profit Health Care Entity General Journal a

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Student Name: Instructor Class: McGraw-Hill/Irwin Problem 18-34 Local Not-for-profit Health Care Entity General Journal a. Investments - Internally Restricted 160,000 Cash 160,000 b. Cash 80,000 Contributed Support - Permanently Restricted Net Assets 80,000 c. Inventory of Medicines 25,000 Cash 25,000 Reclassification - Temporarily Restricted Net Assets 25,000 Reclassification - Unrestricted Net Assets 25,000 d. Accounts Receivable - Patients 120,000 Accounts Receivable - Third Party Payors 480,000 Patient Service Revenues 600,000 e. Depreciation Expense 38,000 Accumulated Depreciation 38,000 f. Cash 15,000 Interest Revenue - Unrestricted Net Assets (Internally 15,000 g. Bad Debts Expense 20,000 Allowance for Uncollectible Accounts 20,000 Contractual Adjustment 30,000 Allowance for Reduced Charges 30,000 h. Supplies Expense 25,000 Inventory of Medicines 25,000 i. Cash 172,000 Investments - Internally Restricted 160,000 Gain on Sale of Investments - Unrestricted Net Assets 12,000 Equipment 212,000 Cash 212,000 Reclassification - Temporarily Restricted Net Assets 25,000 Reclassification - Unrestricted Net Assets 25,000 j. Cash 12,600 Pledges Receivable 98,000 Allowance for Uncollectible Pledges 9,000 Contributed Support - Unrestricted Net Assets 12,600 Contributed Support - Temporarily Restricted Net Assets 89,000
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Student Name: Instructor Class: McGraw-Hill/Irwin Problem 18-34 Local Not-for-profit Health Care Entity Changes in Net Asset Classifications For the Year Ended December 31, 2008 Temporarily Permanently Unrestricted Restricted Restricted a. Announced equipment acquisition plan; invested funds - - - b. Received donation for nursing salary supplements - - 80,000 c. Expended money for medicines 25,000 (25,000) - d. Charged patients 600,000 - - e. Recorded depreciation expense (38,000) - - f. Received interest income on investments from item a 15,000 - - g. Estimated bad debts (20,000) - - Contractual Adjustment (30,000) - - h. Medications from c were consumed (25,000) - - i. Investments sold 12,000 - - Equipment purchased 25,000 (25,000) - j. Pledges received 12,600 89,000 - Increase (Decrease) in Net Assets 576,600 39,000 80,000 Correct! Correct! Correct!
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Given P18-34: Local Not-for-profit Health Care Entity: a. Announced equipment acquisition plan; invested funds $160,000 b. Received donation for nursing salary supplements
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This note was uploaded on 05/12/2010 for the course ACC 4100 taught by Professor West during the Spring '09 term at CUNY Baruch.

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Chapter_18_XLSol - Student Name Instructor Class McGraw-Hill/Irwin Problem 18-34 Local Not-for-profit Health Care Entity General Journal a

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