During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the...

90.2K

Verified Solution

Question

Accounting

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). Services provided to inpatients and outpatients amounted to $9,828,000, of which $469,000 was for charity care; $947,000 was paid by uninsured patients; and $8,412,000 was billed to Medicare, Medicaid, and insurance companies. Donated pharmaceuticals and medical supplies valued at $284,000 were received and utilized as general expenses. Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $5,384,000 of the $8,412,000 billed by the hospital during the year (see transaction 1). An unconditional contribution of $5,190,000 was received in cash from a donor to construct a new facility for care of Alzheimer's patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year. A total of $1,212,000 was received from the following activities/sources: cafeteria and gift shop sales, $900,000; medical seminars, $144,000; unrestricted transfers from the Evanston General Hospital Foundation, $94,000; and fees for medical transcripts, $74,000. Uncollectible accounts totaling $5,150 were written off. The allowance for uncollectible receivables was increased by $10,670.

image b. Prepare the revenues, gains, and other support without donor restrictions section of Evanston General Hospital's statement of operations for the current year

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students