Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6. Collections of accounts receivable totaled $1,159,000. Accounts written off as uncollectible amounted to $11.900. 7. Cash payments on vouchers payable (paid to employers and

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
6. Collections of accounts receivable totaled $1,159,000. Accounts written off as uncollectible amounted to $11.900. 7. Cash payments on vouchers payable (paid to employers and suppliers) during the year were $1,031,200. 8. Supplies of $99.770 were issued to nursing services. 9. On December 31, accrued interest income on investments was $800. 10. Depreciation of buildings and equipment was as follows: Buildings Equipment $51,000 73,000 11. On December 31, closing entries were made in the general journal. Required a-1. Prepare journal entries for each of the transactions in accordance with the standards for a governmental health care entity that follows proprietary fund accounting. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) A 01 Accounts and Notes Receivable Patient Service Revenue 1,664,900 1,664,900 B 02 Cash Revenues-Other 295,300 295,300 03 Contractual Adjustments Provision for Bad Debts Patient Service Revenue 632,000 30,200 261,400 Accounts and Notes Receivable Allowance for Uncollectible Accounts 893,400 30,200 D 4(a) Research Expenses Cash 200,000 200,000 E 4(b) 200,000 Cash Revenues-Grants and Contributions 200,000 F 05 Fiscal and Administrative Service Expenses General Service Expenses Nursing Services Expenses Other Professional Services Expenses 194,440 253,100 585,000 185,600 Other Professional Services Expenses Inventory Accrued Expenses Payable Vouchers Payable OOO 185,600 101,200 7,200 1,326,540 G 06 Cash Allowance for Uncollectible Accounts Accounts and Notes Receivable 1,159.290 11.900 1,170,900 H 07 Vouchers Payable Cash 1,031,200 1,031,200 ! 08 Cash Nursing Services Expenses X 99,770 99.770 J 09 Accrued Interest Receivable Investment Income 800 800 10 124,000 Depreciation Expense Accumulated Depreciation-Buildings Accumulated Depreciation Equipment 51,000 73,000 Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Reporting Exam Kit Kaplan Approved Acca

Authors: Kaplan Publishing

1st Edition

9781787404137

More Books

Students also viewed these Accounting questions

Question

Given that f (x) = ex - e-x, find f -1(x) if it exists.

Answered: 1 week ago

Question

6. Identify characteristics of whiteness.

Answered: 1 week ago

Question

9. Explain the relationship between identity and communication.

Answered: 1 week ago