(Solution) 1a) Prepare A Statement Of Revenues, Expenses, And Changes In Net Assets For Patrick County Hospital For 20X0 Given The Following Information. ? | Snapessays.com


(Solution) 1a) Prepare a statement of revenues, expenses, and changes in net assets for Patrick County Hospital for 20X0 given the following information. ?


1a)Prepare a statement of revenues, expenses, and changes in net assets for Patrick County Hospital for 20X0 given the following information. ?Gross patient service charges .............................................................................$18,000,000 Unrestricted contributions ..................................................................................350,000 Gain on sale of capital assets..............................................................................75,000 Charity services (at gross amounts) included in the above ................................500,000 State appropriations—operating.........................................................................500,000 State appropriations—capital .............................................................................500,000 Estimated uncollectible accounts .......................................................................710,000 Contractual adjustments .....................................................................................1,100,000 Nursing services expense ...................................................................................8,000,000 Other professional services expense ..................................................................890,000 General services expenses ..................................................................................1,100,000 Administrative expenses ....................................................................................440,000 Fiscal service expenses.......................................................................................300,000 Depreciation—Building .....................................................................................1,400,000 Depreciation—Other ..........................................................................................2,740,000 Income from investments of endowment—donor restricted to heart research ..870,000 Cafeteria sales ................................................................................................444,000 Federal grant restricted for heart research (all eligibility requirements met) ....1,300,000 Proceeds from bond issue for building addition.................................................22,000,000 Unrestricted net assets, January 1 ......................................................................9,000,000 Restricted net assets, January 1 ..........................................................................3,200,000 Invested in capital assets, net of related debt, January 1 ....................................15,000,000

 


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This question was answered on: May 23, 2022

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