1) Show entries in general journal form for the following transactions of Bothwell Regional Hospital, a not-for-profit...
Question:
1) Show entries in general journal form for the following transactions of Bothwell Regional Hospital, a not-for-profit hospital.1) For the month just ended the hospital received in cash $8,000 from the hospital's gift shop sales, and received donated medicines with a fair value of $47,000. These medicines are of the type the hospital normally would purchase.
2) The hospital's finance officer, in compliance with the directive of the governing board, invested $600,000 of operating cash in certificates of deposit to be held for future purchases of equipment.
3) New fixed equipment costing $750,000 was purchased from money given the hospital in a prior year to be held until needed for equipment purchases.
4) A federal grant was received in cash in the amount of $400,000 to be used for heart research. During the current year only $50,000 was spent for this research program.
Materials Science and Engineering An Introduction
ISBN: 978-0470419977
8th edition
Authors: William D. Callister Jr., David G. Rethwisch