During the year ended December 31, 2017, Anderson Hospital (operated as a private not-for-profit entity) received and

Question:

During the year ended December 31, 2017, Anderson Hospital (operated as a private not-for-profit entity) 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

Provision for bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66,000

How should this hospital report each of these items?

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Related Book For  book-img-for-question

Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

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