ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions Let me do this assignment for you. The work I complete for you is guaranteed to be 100% original, plagiarism free, edited, APA formatted and just ready for you to add your name to it.ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions 

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

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ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions Revenue and Related Transactions. During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summarized for the year).

  1. Services provided to inpatients and outpatients amounted to $9,600,000, of which $450,000 was for charity care, $928,000 was paid by uninsured patients, and $8,222,000 was billed to Medicare, Medicaid, and insurance companies.
  2. Donated pharmaceuticals and medical supplies valued at $265,000 were received and utilized as general expenses.
  3. Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $5,365,000 of the $8,222,000 billed by the hospital during the year (see transaction 1).
  4. An unconditional contribution of $5,000,000 was received in cash from a donor to construct a new facility for care of Alzheimers patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year.
  5. A total of $965,000 was received from the following activities/sources: cafeteria and gift shop sales, $710,000; medical seminars, 125,000; unrestricted transfers from the Evanston General Hospital Foundation, $75,000; and fees for medical transcripts, $55,000.
  6. Uncollectible accounts totaling $3,250 were written off. The allowance for uncollectible receivables was increased by $1,170.

Required

  1. Record the preceding transactions in general journal form.
  2. Prepare the unrestricted revenues, gains, and other support section of Evanston General Hospital’s statement of operations for the current year, following the format in Illustration 16-4ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

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ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions  At https://lindashelp.com  I offer a unique and confidential service for students like you. Through my personalized and customized original service, I can write your papers, do your presentations, discussion questions, labs, and final exams too. My personalized services is guaranteed to be 100% original, confidential, plagiarism free, edited, APA formatted and just ready for you to add your name to it.  ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions 

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions 

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions Revenue and Related Transactions. During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summarized for the year).

  1. Services provided to inpatients and outpatients amounted to $9,600,000, of which $450,000 was for charity care, $928,000 was paid by uninsured patients, and $8,222,000 was billed to Medicare, Medicaid, and insurance companies.
  2. Donated pharmaceuticals and medical supplies valued at $265,000 were received and utilized as general expenses.
  3. Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $5,365,000 of the $8,222,000 billed by the hospital during the year (see transaction 1).
  4. An unconditional contribution of $5,000,000 was received in cash from a donor to construct a new facility for care of Alzheimers patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year.
  5. A total of $965,000 was received from the following activities/sources: cafeteria and gift shop sales, $710,000; medical seminars, 125,000; unrestricted transfers from the Evanston General Hospital Foundation, $75,000; and fees for medical transcripts, $55,000.
  6. Uncollectible accounts totaling $3,250 were written off. The allowance for uncollectible receivables was increased by $1,170.

Required

  1. Record the preceding transactions in general journal form.
  2. Prepare the unrestricted revenues, gains, and other support section of Evanston General Hospital’s statement of operations for the current year, following the format in Illustration 16-4ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

The post ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions appeared first on LindasHelp.

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ACC 460 WEEK 5 Ch. 16 Exercise: Revenue and Related Transactions

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