1. Gross charges for patient services, all charged to Patient Accounts Receivable amounted to $1,850,000. Estimated contractual adjustments with third-party payors amounted to $500.000 and the Hospital estimated Implicit price concessions would total $15,000. 2. Charity services, not included in transaction 1, would amount to $76,000, had billings been made at gross amounts. 3. Other revenues, received in cash were parking lot. $25,000; cafeteria, $42,500: gift shop. $7.500. 4. Cash gifts restricted by the donor for programs amounted to $30,250 for the year. During the year, $59,000 was expended for technician salaries supporting the program identified by the donor (debit Operating Expense-Salaries and Benefits). 5. Mortgage bond payments amounted to $58,00Q for principal and $34.000 for interest . Assume unrestricted resources are used. 6. During the year, the hospital received, in cash, u restricted contributions of $49,000 and unrestricted income of $41,250 from endowment investments. (It is the hospital's practice to treat unrestricted gifts as nonoperating income) 7. New equipment, costing $162,000, was acquired, using donor-restricted cash that was on hand at the beginning of the year 8. An old piece of lab equipment that originally cost $100.000 and that had an undepreciated cost of $20,000 was sold for $12,000 cash. 9. At the end of 2020, pledges (restricted as to purpose) were received in the amount of $130,000. These are intended to be received and expended in 2021. 10. Cash contributions were received from donors restricted for plant acquisition $205,000 11. Bills were received for the following items: Utilities $145,500 and Insurance $84.000. These will be paid in January of 2021 12. Depreciation of plant and equipment amounted to $195,000. 13. Cash payments on accounts payable amounted to $181,500. Another $811,500 was expended on wages and benefits. 14. Cash collections of patient accounts receivable amounted to $1,190,000. These were in settlement of patient accounts totaling $1612,000. Contractual adjustments associated with these totaled $410,000 and price concessions totaled $12,000. 15. Closing entries were prepared. Prev 1 of 7 !!! Next > b. Prepare a statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020 c. Prepare a Statement of Changes in Net Assets for the Port Hudson Community Hospital for the year ended December 31, 2020 Assume beginning net assets are 57075,000 Complete this question by entering your answers in the tabs below. Required a Required e Required Prepare a statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020. (Input all amounts as positive values Loss amounts should be indicated by a minus sign) PORT HUDSON COMMUNITY HOSPITAL Statement of Operations For the Year Ended December 31, 2020 Revenues Without Donor Restrictions: Total Revenues Net Assets Released From Restrictions: 1. Gross charges for patient services, all charged to Patient Accounts Receivable amounted to $1,850,000. Estimated contractual adjustments with third-party payors amounted to $500.000 and the Hospital estimated Implicit price concessions would total $15,000. 2. Charity services, not included in transaction 1, would amount to $76,000, had billings been made at gross amounts. 3. Other revenues, received in cash were parking lot. $25,000; cafeteria, $42,500: gift shop. $7.500. 4. Cash gifts restricted by the donor for programs amounted to $30,250 for the year. During the year, $59,000 was expended for technician salaries supporting the program identified by the donor (debit Operating Expense-Salaries and Benefits). 5. Mortgage bond payments amounted to $58,00Q for principal and $34.000 for interest . Assume unrestricted resources are used. 6. During the year, the hospital received, in cash, u restricted contributions of $49,000 and unrestricted income of $41,250 from endowment investments. (It is the hospital's practice to treat unrestricted gifts as nonoperating income) 7. New equipment, costing $162,000, was acquired, using donor-restricted cash that was on hand at the beginning of the year 8. An old piece of lab equipment that originally cost $100.000 and that had an undepreciated cost of $20,000 was sold for $12,000 cash. 9. At the end of 2020, pledges (restricted as to purpose) were received in the amount of $130,000. These are intended to be received and expended in 2021. 10. Cash contributions were received from donors restricted for plant acquisition $205,000 11. Bills were received for the following items: Utilities $145,500 and Insurance $84.000. These will be paid in January of 2021 12. Depreciation of plant and equipment amounted to $195,000. 13. Cash payments on accounts payable amounted to $181,500. Another $811,500 was expended on wages and benefits. 14. Cash collections of patient accounts receivable amounted to $1,190,000. These were in settlement of patient accounts totaling $1612,000. Contractual adjustments associated with these totaled $410,000 and price concessions totaled $12,000. 15. Closing entries were prepared. Prev 1 of 7 !!! Next > b. Prepare a statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020 c. Prepare a Statement of Changes in Net Assets for the Port Hudson Community Hospital for the year ended December 31, 2020 Assume beginning net assets are 57075,000 Complete this question by entering your answers in the tabs below. Required a Required e Required Prepare a statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020. (Input all amounts as positive values Loss amounts should be indicated by a minus sign) PORT HUDSON COMMUNITY HOSPITAL Statement of Operations For the Year Ended December 31, 2020 Revenues Without Donor Restrictions: Total Revenues Net Assets Released From Restrictions