$\backslash$table$[[,,,,,\backslash$table$[[$Me$],[$Trans$],[$r the Year :$]],\backslash$table$[[$norial Hos$],[$ction Woo$],[$ading Dec$]],\backslash$table$[[$spital$],[$rksheet$],[$cember $31,2]],024,,,,],[,,,$Assets,,,,Liabilities,,,,,$],[,$Cash,$\backslash$table$[[\backslash$table$[[$Pledges$],[$Receivable$,$ net$]]]],\backslash$table$[[$Account$],[$Receivables$,$ net$]],$Investments,Equipment,$\backslash$table$[[$Wage$],[$Payable$]],\backslash$table$[[\backslash$table$[[$Current$],[$Bond Payable$]]]],\backslash$table$[[\backslash$table$[[$Long$-$term$],[$Bond Payable$]]]],,$nrestricted,Temp,rarily Restricted$],[$Beginning Balance,$0,0,0,0,4,800,0,0,0,4,800,\backslash$table$[[$Write appropriate$],[$account names$]],0,\backslash$table$[[$Write appropriate$],[$account names$]]],[$Transaction $1,,,,,,,,,,,,],[$Transaction $2,,,,,,,,,,,,],[$Transaction $3,,,,,,,,,,,,],[$Transaction $4,,,,,,,,,,,,],[$Transaction $5,,,,,,,,,,,,],[$Transaction $6,,,,,,,,,,,,],[$Transaction $7-1,,,,,,,,,,,,],[$Transaction $7-2,,,,,,,,,,,,],[$Transaction $8,,,,,,,,,,,,],[$Transaction $9,,,,,,,,,,,,],[$Transaction $10,,,,,,,,,,,,],[$Ending Balance,,,,,,,,,,,,$]]$ Question Set $1$

Suppose you are currently a financial manager in the Memorial Hospital, which is a nonprofit organization in this fiscal year, $2024.$ The Memorial Hospital uses accrual$-$based accounting to record financial transactions. Provide a completed transaction worksheet using the transactions below. Also, provide the Statement of Financial Position and Statement of Activity for the Hospital.

Note. When you fill out your transaction worksheets and generate financial statements, write $$appropriate and specific account names$$ related to each transaction.

Transaction $1.$ The Hospital has employees who earned $$800,000$ for the year. $90$ percent of the total amount of wage had been paid by the end of this fiscal year. But $10$ percent of the total wage will be paid three months after the beginning of the next fiscal year.

Transaction $2.$ The Hospital received pledges of gifts in the amount of $$21,000$ to be used as the board of trustees considers appropriate. But the Hospital can use it from $2025.$

Transaction $3.$ However, based on historical experience and data, the Hospital expects that $20$ percent of the pledges $($$$21,000)$ will not be collected.

Transaction $4.$ The Hospital collected $$10,000$ cash on the pledges received in Transaction $2.$

Transaction $5.$ The Hospital received a gift of Treasury bonds that had a fair market value of $$2,700$ total at the time of the gift. The donor said that the proceeds of the bonds can be used for any purpose.

Transaction $6.$ The Hospital earned an interest, $$200,$ from the Treasury bond issuer, the U$.$S$.$ federal government.

Transaction $7.$ The Hospital billed patients $$100,000$ after providing health care services to them. But, based on its billing historical data, the hospital expects that $5$ percent of the bills will not be collected.

Transaction $8.$ The Hospital issued bonds, $$50,000,$ to purchase new equipment. The Hospital will pay off $20$ percent of the bonds within one year. Afterward, the hospital will pay off $80$ percent of the bonds.

Transaction $9.$ The Hospital purchased the new equipment $($a new X$-$ray machine$)$ for $$50,000$ by using the money from the bonds. The Hospital will use this new equipment from next year.

Transaction $10.$ The Hospital recorded a depreciation expenditure of an existing old X$-$ray machine for this year at the end of this fiscal year. The Hospital uses the straight$-$line method for depreciation. Information about the old X$-$ray is as follows: purchase cost: $$50,000,$ useful life: $10$ years, and salvage value: $$2,000.$

$(1)$ Provide a completed transaction Worksheet for Memorial Hospital.

$(2)$ Provide the Statement of Financial Position for Memorial Hospital.

$(3)$ Provide the Statement of Activity for Memorial Hospital.