With regard to accounting for private, not-for-profit health care entities, do the following: a. Outline the accounting

Question:

With regard to accounting for private, not-for-profit health care entities, do the following:

a. Outline the accounting required, under FASB guidance, for a(n):

(1) Endowment gift received in cash.

(2) Pledge received in 2011, unrestricted as to purpose but restricted for use in 2012.

(3) Pledge received in 2011, restricted as to purpose other than acquisition of fixed assets, which is fulfilled in 2012.

b. List those items required to be reported “outside” the performance indicator in the Statement of Operations.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Essentials of Accounting for Governmental and Not-for-Profit Organizations

ISBN: 978-0073527055

10th Edition

Authors: Paul A. Copley

See More Books

Question Posted: Jan 04, 2012 04:37 AM

See More Questions

Under FASB Statement No. 158, which pension-related items impact the reported amount of accumulated other comprehensive income?
A private citizen makes an unrestricted pledge of $5 million to a citys museum. The city is condent that the donor will fulll her pledge. However, the cash will not be received for at least two...
Health care entities frequently provide charity care to qualified individuals. How is charity care reported in the financial statements of a hospital?
Consider the following NLP problem: Maximize 2Xi + X2 - 2X3 + 3XiX2 + 1X subject to the constraints (a) Set up and solve the model by using Solver. Use a starting value of zero for each decision...
What are the special requirements for the presentation of financial statements for a firm that is operating under Chapter 11 Bankruptcy protection?
The nonlinear inequality is graphed in the figure. Only the right half of the interior of the circle and its boundary is shaded because of the restriction that x must be nonnegative. Graph each...
16.9
A cross-flow heat exchanger used in a cardio-pulmonary bypass procedure cools blood flowing at 5 liter/min from a body temperature of 37C to 25C in order to induce body hypothermia, which reduces...
Individual Assignment #2 Sarda Electrical Enterprise began operations two years ago. Its adjusted account balances at December 31, 2017, are listed below: Credit Debit $11,300 46,000 18,900 8,500...
By taking a central flux path, estimate the inductance of the sensor shown in Figure (a) for zero air gap; (b) for a 2 mm air gap. Assume the relative permeability of core and armature is 104 and...
Briefly describe the following items related to financial reporting by (a) Private not-for-profit health care entities; (b) Government-owned health care entities; (c) Commercial health care entites:...
During 2011, the following transactions were recorded by the Baton Rouge Community Hospital, a private-sector, not-for-profit institution. 1. Gross charges for patient services, all charged to...
Why is relationship or personal selling the best way to promote in business marketing?
Matthew Kennedy of Urbana, Ohio, is single and has been working as an admissions counselor at a university for five years. Matthew owns a home valued at $250,000 on which he owes $135,000. He has a...
Question: A group of employees of Unique Services will be surveyed about a new pension plan. In-depth interviews with each employee selected in the sample will be conducted. The employees are...
On January 1, 2020, the following accounts appeared in the general ledger of Ace's Repair Shop: Cash P10,500 Accounts receivable 8.400 Furniture 12,600 Repair Equipment 54,000 Accounts Payable 22,000...
Your maths problem x+3x-3 Find solutions on the web Q +1 XII
5. Data for the payroll for the Dos Company for the month of April are shown below: Total gross earnings Social security taxes withheld Phil Health taxes withheld Employees income tax withheld...
What is a cross-tabulation? How are cross-tabulations useful in analysing and interpreting data?
You are standing on the top of a building and throw a ball vertically upward. After 2 seconds, the ball passes you on the way down, and 2 seconds after that, it hits the ground below. a. What is the...
In Problems 7380, is the limit expression a 0/0 indeterminate form? Find the limit or explain why the limit does not exist. (x-7) 7x - 4x - 21 lim x7x2
St. Joseph's Hospital began operations in December 2016 and had patient service revenues totaling $950,000 (based on customary rates) for the month. Of this, $120,000 is billed to patients,...
As of January 1, 2017, the trial balance for Haven Hospital was as follows: During the fiscal year ended December 31, 2017, the following transactions occurred: 1. Patient service revenue amounted to...
A local government has five federal grants. Expenditures amounted to $3,000,000 during the year, as follows: Type A HUD grant, new and never audited ......................................... $900,000...
Problem 16-16 Tax Shields (LO2) River Cruises is all-equity-financed with 53,000 shares. It now proposes to issue $280,000 of debt at an interest rate of 12% and to use the proceeds to repurchase...
In a process costing system, companies use predetermined overhead rates to apply overhead
Product Weight Sales Additional Processing Costs P 300,000 lbs. $ 245,000 $ 200,000 Q 100,000 lbs. 30,000 -0- R 100,000 lbs. 175,000 100,000 If joint costs are allocated based on relative weight of...

With regard to accounting for private, not-for-profit health care entities, do the following: a. Outline the accounting

Question:

Step by Step Answer:

a 1 A cash gift restricted for endowment must be recorded and reported as permanently restricted net ...View the full answer

Essentials of Accounting for Governmental and Not-for-Profit Organizations

Students also viewed these Accounting questions