(Use of funds) The following transactions relate to the Tableaux Hospital, a not-for-profit hospital. Indicate which fund...

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(Use of funds)

The following transactions relate to the Tableaux Hospital, a not-for-profit hospital. Indicate which fund or funds would be used to record the data.

1. Collected $\$ 2,345$ from a patient.

2. Received a $\$ 100,000$ grant from Toosuups Drug Company for a study of the effects of morphine on female patients.

3. Received unrestricted gifts of $\$ 50,000$.

4. Purchased equipment for $\$ 125,000$ by using resources previously accumulated in the Plant Replacement and Expansion Fund.

5. Research expenses totaling $\$ 12,000$ were incurred in studying the effects of morphine on female patients.

6. The board decided to begin a fund for nursing education. Initially $\$ 10,000$ of general hospital resources was transferred to the fund.

7. Marketable securities with a fair value of $\$ 15,000$ were donated by WFJ, Inc., to help the hospital acquire new equipment.

8. The securities in item (7) produced income of $\$ 5,000$. Assume that the investment income is restricted in the same way as the original gift.

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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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