Question

Based on the following information, prepare a Statement of Revenues, Expenses, and Changes in Net Position for Hudgins County (government) Hospital for the year ended December 31, 20X7:
Patient service charges (gross) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,000,000
Premium fees earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000,000
Restricted contributions for heart research . . . . . . . . . . . . . . . . . . . . . . . . 20,000,000
Medical record transcript fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,000
Cafeteria sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000
Restricted contributions for specialized equipment purchases . . . . . . . . 6,500,000
Unrestricted income from endowments . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000,000
Donated services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330,000
Donated materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88,000
Unrestricted contributions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550,000
Nursing services expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,850,000
Other professional services expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,400,000
General services expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,210,000
Fiscal services expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000
Administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000
Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 440,000
Depreciation expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200,000
Provision for uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 430,000
Charity services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375,000
Contractual adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 950,000
Equipment purchases paid from donor-restricted resources . . . . . . . . . . 3,750,300

Also, a term endowment restricted to heart research expired during the year. The foregoing expenses include $800,000 payable from donor-restricted resources.



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  • CreatedOctober 25, 2014
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