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E16-19 Revenue and Related Transactions [LO 16-4] During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions
E16-19 Revenue and Related Transactions [LO 16-4] During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summarized for the year). 1. Services provided to inpatients and outpatients amounted to $9,696,000, of which $458,000 was for charity care, $936,000 was paid by uninsured patients, and $8,302,000 was billed to Medicare, 2. Donated pharmaceuticals and medical supplies valued at $273,000 were received and utilized as 3. Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $5,373,000 of the 4. An unconditional contribution of $5,080,000 was received in cash from a donor to construct a new facility 5. A total of $1,069,000 was received from the following activities/sources: cafeteria and gift shop sales, Medicaid, and insurance companies. general expenses $8,302,000 billed by the hospital during the year (see transaction 1) for care of Alzheimers patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year. $790,000; medical seminars, $133,000; unrestricted transfers from the Evanston General Hospital Foundation, $83,000; and fees for medical transcripts, $63,000. 6. Uncollectible accounts totaling $4,050 were written off. The allowance for uncollectible receivables was increased by $5,170 0 Required a. Prepare journal entries for the preceding transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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