CASH

PATIENT

ALLOWANCE FOR

830,000

ACCOUNTS RECEIVABLE

UNCOLLECTABLE ACCOUNTS

SUPPLIES

CONTRIBUTIONS RECEIVABLE

bb

3,250,000

650,000

bb

bb

130,000

bb

2,480,000

830,000

3,250,000

650,000

130,000

2,480,000

ALLOWANCE FOR

CASH - ASSETS

INVESTMENTS - ASSETS

PROPERTY PLANT

UNCOLLECTABLE CONTRIBUTIONS

WHOSE USE IS LIMITED

WHOSE USE IS LIMITED

INVESTMENTS - OTHER

& EQUIPMENT

353,000

bb

bb

1,700,000

bb

10,100,000

bb

7,500,000

353,000

-

1,700,000

10,100,000

7,500,000

ACCUMULATED

ACCOUNTS PAYABLE

CURRENT PORTION

NONCURRENT

DEPRECIATION

600,000

bb

ACCRUED EXPENSES

LONG-TERM DEBT

LONG-TERM DEBT

4,600,000

bb

200,000

bb

3,100,000

bb

4,600,000

600,000

-

200,000

3,100,000

UNRESTRICTED NET ASSETS

UNRESTRICTED NET ASSETS

PERM RESTRICTED NET ASSETS

TEMP RESTRICTED NET ASSETS

BOARD DESIGNATED

UNDESIGNATED

7,007,000

bb

6,136,000

bb

1,700,000

bb

1,644,000

bb

7,007,000

6,136,000

1,700,000

1,644,000

UNRESTRICTED

UNRESTRICTED

OPERATING REVENUES

NONOPERATING REVENUES

-

TEMPORARILY RESTRICTED

REVENUES

PERMANENTLY RESTRICTED

CONTRACTUAL ADJUSTMENTS

REVENUES

-

-

-

OPERATING EXPENSES

RECLASSIFICATION TO

RECLASSIFICATION FROM

UNRESTRICTED NET ASSETS

Satisfaction of:

TEMP. RESTRICTED NET ASSETS

-TimeRestrictions-

-Program Restrictions-

-Plant Acquisitons-

-

-

CLOSING ENTRIES	debits	credits
Unrestricted:
				UNDESIGNATED UNRESTRICTED NET ASSETS
					1,644,000	Preclosing
						closing entry
					1,644,000
				BOARD DESIGNATED UNRESTRICTED NET ASSETS
					1,700,000	Preclosing
						closing entry
					1,700,000
Temporarily Restricted
				NET ASSETS TEMPORARILY
				RESTRICTED - SCHOLARSHIPS
					6,136,000	Preclosing
						closing entry
					6,136,000
Permanently Restricted
				NET ASSETS
				PERMANENTLY RESTRICTED
					7,007,000	Preclosing
						closing entry
					7,007,000

-

Excel-Based Problems 12-9. As of January 1, 2017, the trial balance for Haven Hospital was as follows: Debits Credits Cash Patient Accounts Receivable Allowance for Uncollectible Patient $830,000 3,250,000 Accounts Receivable Contributions Receivable Allowance for Uncollectible $ 650,000 2,480,000 Contributions Receivable Supplies Investments-Board Designated Investments-Other Property, Plant, and Equipment Accumulated Depreciation- 353,000 130,000 1,700,000 10100,000 7,500,000 Property, Plant, and Equipment Accounts Payable Long-Term Debt-Current Installment Long-Term Debt-Noncurrent Net Assets-Unrestricted-Board Designated Net Assets-Unrestricted-Undesignated Net Assets-Temporarily Restricted Net Assets-Permanently Restricted 4,600,000 600,000 200,000 3,100,000 1.700,000 1,644,000 6,136,000 7,007,000 $25,990,000 $25,990.000 Totals During the fiscal year ended December 31, 2017, the following transactions occurred: 1. Patient service revenue amounted to $20,990,000, all recorded on account Contractual adjustments were recorded in the amount of $3,800,000. received Uncollectible accounts are estimated to be $620,000. Cash was on account in the amount of $17,600,000