1. You have created a not-for-profit hospital and are recording the transactions for the first year. Here are the first 16 recorded transactions:

1.) Jan 1st The hospital raised $300,000 from a breast cancer fundraiser.

2.) Jan 6th The hospital received pledges of gifts in the amount of 18,000 to be used at the board of trustees

3.) Jan 14th The hospital expects that 15 percent of the pledges will not be collected.

4.) Jan 18th.Of the pledges received in Transaction 2, the Hospital collected 10,000 in cash.

5.) Feb 1st The hospital billed patients $80,000 after providing health care services to them. The hospital expects that 5 percent of the bills will not be collected.E

6.) Feb 12th Issued bonds, $50,000, to purchase new equipment.

7.) Feb 17th The hospital issued purchased the new equipment for $50,000 by using the money issued by the bonds.

8.) Feb 24th The hospital recorded a depreciation expenditure for this year. The new equipment can be used for 10 years and the salvage value is $2,000.

9.) Feb 29th Billed Dan Cinrick $75,000 for services. The hospital expects to be paid in full in 1 month.

10.) March 1st. Collected the bill payment from Feb 1st.

11.) March 8th. Received a donation in cash from Ray Bees for $200,000.

12.) March 14th. Purchased supplies for $45,000 cash.

13.) March 26th. Paid 10,000 cash for donation advertisement.

14.) March 29th. Collected $75,000 from Feb 29th transaction.

15.) April 2nd. Contracted a specialty worker to remove asbestos from Hospital service room at a flat rate of $8,000 to be paid when completed.

16.) April 8th. Received anonymous donation for $10,000 cash.

Your new organization should have assets totalling at least $200,000. The assets can be of any type and can be financed by any source.

a) Using the first 16 transactions above, make up and record 8 new transactions via debit and credit journal entries, then record them into a spreadsheet

b) Create a statement of changes in net assets for all 24 entries (whole year)