only need requirement B
During 2017, the following transactions were recorded by the Port Hudson Community Hospital, a private sector not-for-profit Institution 1. Gross charges for patient services, all charged to Patient Accounts Recelvable amounted to $1.310,000 Contractual adjustments with third-party payers amounted to 2 Charity services, not included in transaction 1. would amount to $68,000, had billings 3. Other revenues, receved In cash, were parking lot, $21000: cafeteria, $36.500 gift 4 Cash gifts for cancer research amounted to $26.850 for the year. During the year 5. Mortgage bond payments amounted to $51.600 for principal and $29.200 for 6. During the year, the hospital received, in cash, unrestricted contributions of $43 400 $480,000 been made at gross amounts. shop, $5,500 $51.800 was expended for cancer research techniclans' salaries (debit Operating Expense Salaries and Benefits) Interest. Assume unrestricted resources are used. and unrestricted income of $36.250 from endowment investments. (t is the hospital's practice to treat unrestricted gifts as nonoperating income.) 7. New equipment, costing $154.000 was acquired using donor-restricted cash that was 8. An old plece of lab equlpment that originaly cost $60,000 and that had an 9 At the end of 2017, piedges received in the amount of $125,000 were intended to be 10 Cash contributions were received as follows temporarly restricted for purposes 1 BIls totaling $221100 were recelved for the folowing tems on hand at the beginning of the year Port Hudson's policy is to record all equipment in the unrestricted net asset class undepreciated cost of $12.000 was sold for $8.00o cash paid and used for unrestricted purposes in 2018 other than plant $41250 temporarnly restricted for plant acou'sition. $132000 11. Bills totaling $221,100 were recelved for the following Items Utilities Insurance $148, 386e 80,800 12 Depreclation of plant and equipment amounted to $183,000. 13. Cash payments on vouchers payable amounted to $170,700. Another $802,300 was expended on wages and benefits. Cash collections of patient accounts recelvable amounted to $1,182,000. 14. Closing entries were prepared. Required: a. Record the trnsactions in the general journal of the Port Hudson Community Hospital. b. Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2017 PORT HUDSON COMMUNITY HOs Statement of Opera For the Year Ended December 31, 2017 Unrestricted Revenues: Total Revenues 0 Net Assets Released From Restrictions Total Operating Revenues Operating Expenses: 0 Tota Operating Expenses Other Income Total Operating Expenses Other Income Total Other income Excess of Revenues Over Expenses Net Assets Released from Restrictions
