Tupper Memorial Hospital received from a donor a $50,000 contribution and a $50,000 pledge payable in one

Question:

Tupper Memorial Hospital received from a donor a $50,000 contribution and a $50,000 pledge payable in one year. The donor required that the funds be used for heart research. Explain how these transactions would be reported in Tupper’s and operating statement under the independent assumptions that Tupper is
(a) A government hospital and
(b) A not-for-profit hospital.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...