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Prepare journal entries to record the following transactions of a nonprofit hospital: The hospital billed its...

Prepare journal entries to record the following transactions of a nonprofit hospital:

The hospital billed its uninsured patients for $250,000. Based on historical experience, it expects to collect 45 percent of that amount over time.

Nurses and doctors employed by the hospital were paid their salaries, $100,000.

The chief administrative officer was paid her salary of $10,000.

The hospital paid its utility bill, $5,000.

Depreciation on the equipment was $34,000.

6. Several adults donated their time (worth $5,000) selling merchandise in the hospital gift shop.

7. The hospital billed Medicare $100,000 for services provided at its established rates. The prospective billing arrangement gives Medicare a 40 percent discount from these rates.

8. An unrestricted donation of $4,000 was received.

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Answer #1

Book1-Microsoft Excel Home Insert Page Layout Formulas Data Review View 2 AutoSum 1AAf Wrap TextGeneral Copy Blu-B.9.Δ. #캐误津田Merge & Center- s-% , sn conditional as ormat-styles . Insert Delete Form at 2Clear . e ゾFormat Panter Format Painter 2 ClearFilter Select Editing Formatting as Table Styles Styles F10 2 date iculars Ptient service receivable To record patient accounts receviable Provision for uncollectiable account 137500 Allowance for uncollectiable receviable 11 2 12 13 Salaries Cash 100000 15 3 Chief adminstrative officer fees 10000 17 To sala 19 4 Depreciation account 21 to record d tion on 23 5 Helth care services/interest in hospital gift shop 5000 unrestricted contribution 25 | 0 Type here to search 0 ENG 228 AM US 1/31/2019Book1-Microsoft Excel Home % Cut Copy ゾFormat Panter Insert Page Layout Formulas Data Review View Σ AutoSum Calibri 11, A A .. .,a> . I Wrap Text General Blu-B.9.Δ. #캐误津田Merge & Center- s-% , S: conditional as ormat . Styles . Styles Insert Delete Form at -Clear . e 2 ClearFilter Select Editing Formatting as Table Styles Font F41 19 4 tion account 21 ation on equ 5 Helth care services/interest in hospital gift shop5000 unrestricted contribution 27 6 Patient account receviable 100000 Patient service receviable 31 Provision for contactual adjustment tient account receviable tient account receviable 37 To recrd cash collect 39 8 Cach account Unrestricted contribution To donation received 14 H Sheet1 O Type here to search ^ 90 do ENG 230 AM US 1/31/2019 0

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