The following transactions were incurred by the Numb Hospital, a not-forprofit entity, during January 2004: 1. The

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The following transactions were incurred by the Numb Hospital, a not-forprofit entity, during January 2004:
1. The hospital billed its patients for $\$ 250,000$.
2. Nurses and doctors employed by the hospital were paid their salaries, $\$ 100,000$.
3. The chief administrative officer was paid her salary of $\$ 10,000$.
4. The hospital paid its utility bill, $\$ 5,000$.
5. Depreciation on the equipment was $\$ 34,000$.
6. Doctors donated services valued at $\$ 3,000$.
7. The board transferred $\$ 1,000$ into a Special Management Fund for contingencies.
8. An unrestricted donation of $\$ 4,000$ was received.
Required: Record these entries in the General Fund of the Numb Hospital.

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Introduction To Government And Not For Profit Accounting

ISBN: 9780130464149

5th Edition

Authors: Martin Ives, Joseph R. Razek, Gordon A. Hosch

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