P6.3. The following is Flapper Hospital's preadjusted trial balance as of December 31, 20X1: Acct. No. 101 Cash $ 34,900 Temporary investments 60,000 Accrued interest receivable -0- Accounts receivable 172,000 106 Inventory 15,000 Prepaid insurance 6,480 Prepaid rent 4,500 Prepaid interest 2,400 102 103 109 203 206 120/130/140 Land, Buildings, and Equipment 350,020 201 Accounts payable $ 28,200 202 Notes payable 48,000 Accrued interest payable -0- 204 Accrued salaries and wages payable 205 Deferred rental income 3,600 Deferred tuition income 4,900 250 Bonds payable 200,000 301 Hospital net assets 335,300 302 Revenue and expense summary -O- 401 Routine services revenue 97,500 402 Ancillary services revenue 58,200 403 Interest income 404 Rental income Tuition income 406 Other operating revenues 19,300 601 Salaries and wages expense 100,000 602 Supplies expense 25,000 603 Utilities expense 12,000 Insurance expense -0- 605 Repairs expense 9,000 606 Rent expense Interest expense -0- 610 Other expenses 3,700 $795,000 $795,000 405 604 -0- 608 The following additional information is available: 1. On August 1, 20x1, the hospital invested $60,000 (face value) in 8 percent government bonds that pay interest annually on August 1, commencing August 1, 20X2. 2. On January 1, 20x1, a three-year insurance premium was paid in advance. 3. One year's rent was received in advance on March 1, 20X1. 4. One year's rent was paid in advance by the hospital on May 1, 20X1. 5. On November 1, 20x1, the hospital issued its six-month, 10 percent note for $48,000 to a local bank in connection with a short-term loan. The interest was prepaid by the hospital. 6. On October 1, 20X1, the hospital issued $200,000 of 6 percent, ten-year bonds at face value. These bonds pay interest semiannu- ally on October 1 and April 1, commencing April 1, 20X2. 7. Unpaid salaries and wages at December 31, 20X1, amounted to $16,800. 8. On September 1, 20X1, the hospital received nine months' tuition in advance for one of its educational programs. Required: (1) Enter the preadjusted December 31, 20x1, balances in general ledger accounts. (2) Prepare, in general journal form, the necessary adjusting entries at December 31, 20X1. (3) Post the adjusting entries to the ledger accounts and prepare an adjusted trial balance at December 31, 20X1. (4) Prepare a statement of operations for 20X1 and a balance sheet at December 31, 20X1. (5) Prepare, in general journal form, the necessary closing entries at December 31, 20X1. (6) Post the closing entries to the ledger accounts. (7) Prepare a postclosing trial balance at December 31, 20X1. P6.3. The following is Flapper Hospital's preadjusted trial balance as of December 31, 20X1: Acct. No. 101 Cash $ 34,900 Temporary investments 60,000 Accrued interest receivable -0- Accounts receivable 172,000 106 Inventory 15,000 Prepaid insurance 6,480 Prepaid rent 4,500 Prepaid interest 2,400 102 103 109 203 206 120/130/140 Land, Buildings, and Equipment 350,020 201 Accounts payable $ 28,200 202 Notes payable 48,000 Accrued interest payable -0- 204 Accrued salaries and wages payable 205 Deferred rental income 3,600 Deferred tuition income 4,900 250 Bonds payable 200,000 301 Hospital net assets 335,300 302 Revenue and expense summary -O- 401 Routine services revenue 97,500 402 Ancillary services revenue 58,200 403 Interest income 404 Rental income Tuition income 406 Other operating revenues 19,300 601 Salaries and wages expense 100,000 602 Supplies expense 25,000 603 Utilities expense 12,000 Insurance expense -0- 605 Repairs expense 9,000 606 Rent expense Interest expense -0- 610 Other expenses 3,700 $795,000 $795,000 405 604 -0- 608 The following additional information is available: 1. On August 1, 20x1, the hospital invested $60,000 (face value) in 8 percent government bonds that pay interest annually on August 1, commencing August 1, 20X2. 2. On January 1, 20x1, a three-year insurance premium was paid in advance. 3. One year's rent was received in advance on March 1, 20X1. 4. One year's rent was paid in advance by the hospital on May 1, 20X1. 5. On November 1, 20x1, the hospital issued its six-month, 10 percent note for $48,000 to a local bank in connection with a short-term loan. The interest was prepaid by the hospital. 6. On October 1, 20X1, the hospital issued $200,000 of 6 percent, ten-year bonds at face value. These bonds pay interest semiannu- ally on October 1 and April 1, commencing April 1, 20X2. 7. Unpaid salaries and wages at December 31, 20X1, amounted to $16,800. 8. On September 1, 20X1, the hospital received nine months' tuition in advance for one of its educational programs. Required: (1) Enter the preadjusted December 31, 20x1, balances in general ledger accounts. (2) Prepare, in general journal form, the necessary adjusting entries at December 31, 20X1. (3) Post the adjusting entries to the ledger accounts and prepare an adjusted trial balance at December 31, 20X1. (4) Prepare a statement of operations for 20X1 and a balance sheet at December 31, 20X1. (5) Prepare, in general journal form, the necessary closing entries at December 31, 20X1. (6) Post the closing entries to the ledger accounts. (7) Prepare a postclosing trial balance at December 31, 20X1