Gross charges for hospital services, all charged to accounts and notes receivable, were as follows: Patient service
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- Gross charges for hospital services, all charged to accounts and notes receivable, were as follows:
Patient service revenue | $1,668,700 |
- The hospital cafeteria and gift shop had cash sales of $297,200.
- Additional information determined subsequently to recording patient service revenues and relating to the current year is as follows:
Contractual adjustments | $ | 651,000 |
Provision for bad debts | 32,100 | |
Charity care | 263,300 | |
- A federal cost reimbursement research grant of $369,000 was awarded. As of the end of the year, $390,000 in expenses related to the grant had been made.
- Vouchers totaling $1,370,240 were issued for the following items:
Fiscal and administrative services expenses | $ | 203,940 |
General services expenses | 255,000 | |
Nursing services expenses | 604,000 | |
Other professional services expenses | 187,500 | |
Inventory | 110,700 | |
Expenses accrued at December 31 | 9,100 | |
- Collections of accounts receivable totaled $1,178,000. Accounts written off as uncollectible amounted to $13,800.
- Cash payments on vouchers payable (paid to employers and suppliers) during the year were $1,040,700.
- Supplies of $101,670 were issued to nursing services.
- On December 31, accrued interest income on investments was $2,700.
- Depreciation of buildings and equipment was as follows:
Buildings | $ | 70,000 |
Equipment | 92,000 | |
11. On December 31, closing entries were made in the general journal.
- a-1. Need journal entries for each of the transactions in accordance with the standards for a governmental health care entity that follows proprietary fund accounting.
- a-2.Need closing entries in accordance with the standards for a governmental health care entity that follows proprietary fund accounting.
- b.Calc. the net patient service revenue that would be reported on the statement of revenues, expenses, and changes in net position.
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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