During the year ended December 31, 2010, Anderson Hospital (operated as a private not-for-profit organization) received and

Question:

During the year ended December 31, 2010, Anderson Hospital (operated as a private not-for-profit organization) received and incurred the following:

Fair value of donated medicines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 54,000

Fair value of donated services (replaced salaried workers) . . . . . . . . . . . . . . . . . . 38,000

Fair value of additional donated services

(did not replace salaried workers) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,000

Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,000

Regular charges to patients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176,000

Charity care . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210,000

Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66,000


How should this hospital report each of these items?


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Advanced Accounting

ISBN: 978-0077431808

10th edition

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

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