Gov Acc Hospital2

A
Accounts Receivable
Free Services and Adjustments
Gross charges to patients and Courtesy and Miscellaneous Allowances
adjutments and allowances
against such charges //
estimated that 5000 of net
billings will be uncollectible
Uncollectible Accounts
Collections were 605,000,

uncollectible accounts of 4,000
were written of
B
Cash
Allowance for Uncollectible Accounts
C
Cash
Other Hospital Revenues // All Due from Temporary Funds
funds were collected with the
exception of 17,500 that is still
due to temporary funds; the
balance due from temporary
funds on january 1, of which
15000 had been collected.
Cash
D
Inventory of supplies
Expenditures for hospital

supplies that were placed in
inventory totaled 210,000. All
supplies were paid except for
purchases in december totaling Accounts Payable
54,000; the accounts payable
on 1/1/x7 of 47,500 had all been
paid
Supplies charged out of

inventory
E
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Supplies charged out of

inventory
Outpatient and Emergency
Other Expenses
Payroll Information
F
Dietary
Other Expenses
Accrued Salaries and Wages

G
Dietary
Payments of hospital expenses Household and Property
other than salaries
Other Expenses
H
Payments of 105,000 were
Interest Expense
made to bondholders including Due to Plant Fund
interest of 30,000 and the
payment of serial maturities due
of 75,000 (reported in plant
fund)
I
Payments of 65,000 was made Due to Plant Fund
to plant fund, representing
depreciation on hospital
properties recognized in 20x6. A Depreciation
charge for depreciation on
hospital properties for 20x7 of
82,500 is recognized, and a
liability to the Plant Fund is set Current fund net assets
up for this amount.
Closing Entries
Earnings from Routine Services - In Patients
Earnings from Routine Services - Out Patients

Earnings from Special Services
Current fund net assets
General contributions, Donations, Legacies, and Bequests

Grants from government agencies
Donated services and Commodities
Income transfers from temporary funds
Miscellaneous Revenues
debit
Accounts Receivable
Courtesy and Miscellaneous Allowances
Uncollectible Accounts
574,000
62,500
6,000
5,000
605,000
Accounts Receivable
Accounts Receivable
Due from Temporary Funds

4,000
442,500
17,500
15,000
Cash
Accounts Payable
Accounts Payable
Cash

Dietary
210,000
47,500
12,500
145,000
15,000
20,000

Other Expenses
Inventory of Supplies
5,000
10,000

Dietary
Other Expenses
100,000
74,800
35,000
277,350
30,200
44,900

Cash
560,000

Dietary
Other Expenses
Cash
23,500
10,000
12,000
42,500
1,500
12,500
Interest Expense
Due to Plant Fund
Cash
30,000
75,000
Due to Plant Fund

Cash
65,000
Depreciation
82,500

Due to Plant Fund
82,500
Closing Entries
410,000

Bad Debts Expense
Dietary
Other Expenses
40,000
192,500
302,750

Interest Expense
Depreciation
Current Fund Net Assets
195,000
180,000
5,000
65,000
15,000
Accounts
Cash
Accounts Receivable
Accounts Payable
Due to Plant Fund
Current Fund Net Assets
Totals
Assumption:
Add 10,000 cash
Debit
27,500
85,000
15,000
45,000
172,500
credit
State
For the ye
Gross Revenues from Services to Patients
410,000
40,000
192,500
Deductions from Gross Revenues
5,000
Net Revenues from Services to Patients
605,000
Operating Expenses
4,000
195,000
180,000
5,000
65,000
15,000
Deficit from Operations

Other Revenue:
15,000
156,000
54,000
Other Expense:
Interest Expense
Depreciation
Net Income
47,500
207,500

Dietary
Dietary
562,250

560,000
102,000
105,000
Other Expenses
65,000
82,500
82,500
62,500
6,000
5,000
136,000
229,800
62,000
339,850
36,700
67,400
30,000
82,500
347,500
Credit
3,500
47,500
65,000
4,000
52,500
172,500
Statement of Activities
For the year ended Dec 31, 20x7
Routine Services - In Patients
Routine Services - Out Patients
Special Services
Free Service and Adjustments
Bad Debts
Operating Expenses
Dietary
Other Expenses
Other Revenue:
Other Expense:
Interest Expense
Depreciation
Net Income
Salaries and Wages

100,000
74,800
35,000
277,350
30,200
44,900

Cash
Cash
Dietary
Cash
Dietary
Cash
Cash
Cash
Cash
Cash
Cash
Other Expenses
Cash
State
410,000
40,000
192,500
62,500
6,000
5,000
Assets
642,500
73,500
569,000
Others
Total
36,000
136,000
155,000
229,800
27,000
62,000
62,500
339,850
6,500
36,700
22,500
67,400
871,750
302,750
195,000
180,000
5,000
65,000
15,000
460,000
30,000
82,500
112,500
44,750
Cash
Accounts Receivable
Less: Allowance for Uncollectible Accounts
Due from Plant Funds
Total Assets
Current Fund
Statement of Cash Flows
December 31,2017
Cash Flows from operating activities
Net income per statement of activities
Add: Depreciation charge on properties reported in p
Total
Transfer to Plant Fund
Payment of Mortgage reported in Plant Fund
Net Cash Flow from operating Activities
General/Current Fund Net assets, Jan 1, 20X7
General/Current Fund Net assets, Dec 31, 20X7
Current Fund
Statement of Financial Position
December 31, 20X7
Assets
54,500
Accounts Receivable
Less: Allowance for Uncollectible Accounts
Total Assets
50,000
4,500
45,500
17,500
47,500
165,000
Current Fund
December 31,2017
Add: Depreciation charge on properties reported in plant fund
nt Fund
Financial Position
er 31, 20X7
Liabilities and Net Assets
Accounts Payable
Due to Plant Fund
General/Current Fund Net Assets
54,000
82,500
6,250
22,250
165,000
44,750
82,500
127,250
82,500
75,000
30,250
52,500
22,250
ADJUSTING EN
Gross charges to patients and adjutments and
allowances against such charges // estimated that 5000
of net billings will be uncollectible
A
Accounts Receivable
Courtesy and Miscellaneous Allowa
Uncollectible Accounts Expense

B
Cash
Collections were 605,000, uncollectible accounts of 4,000
were written of
Allowance for Uncollectible Accoun

C
Cash
Other Hospital Revenues // All funds were collected with
the exception of 17,500 that is still due to temporary
funds; the balance due from temporary funds on january
1, of which 15000 had been collected.
Cash
Expenditures for hospital supplies that were placed in

inventory totaled 210,000. All supplies were paid except
for purchases in december totaling 54,000; the accounts
payable on 1/1/x7 of 47,500 had all been paid
Supplies charged out of inventory
D
Accounts Payable
E
Dietary
Supplies charged out of inventory

Other Expenses
Payment and Accrual of Payroll
F
Dietary
Other Expenses
Dietary
Payments of hospital expenses other than salaries
Payments of 105,000 were made to bondholders

including interest of 30,000 and the payment of serial
maturities due of 75,000 (reported in plant fund)
G
Dietary
Other Expenses
H
Interest Expense
General/Current Fund Net assets
I
Due to Plant Fund
Payments of 65,000 was made to plant fund,

representing depreciation on hospital properties
Depreciation
recognized in 20x6. A charge for depreciation on hospital
properties for 20x7 of 82,500 is recognized, and a liability
to the Plant Fund is set up for this amount.
General/Current fund net assets
CLOSING ENT
Earnings from Routine Services - In

Earnings from Routine Services - O
General contributions, Donations, L

Income transfers from temporary f
DJUSTING ENTRIES
Accounts Receivable
Cash
Accounts Receivable
Accounts Receivable
Cash
Cash
Cash
Accounts Payable
Accounts Payable
Cash
Dietary
debit
574,000
62,500
6,000
5,000
605,000
4,000
442,500
17,500
15,000
210,000
47,500
12,500
145,000
15,000
20,000

Other Expenses

Dietary
Other Expenses
Cash
Dietary
5,000
10,000
4,000
100,000
73,750
35,000
272,600
29,750
44,900
1,050
4,750
450

Dietary
Other Expenses
Cash
23,500
10,000
12,000
42,500
1,500
12,500
Interest Expense
General/Current Fund Net assets
Cash
30,000
75,000
Due to Plant Fund

Cash
65,000
Depreciation
82,500

Due to Plant Fund
82,500
CLOSING ENTRIES
Dietary
Other Expenses
410,000
40,000
192,500
302,750

Interest Expense
Depreciation
195,000
180,000
5,000
65,000
15,000
Accounts
Cash
Accounts Receivable
Accounts Payable
Due to Plant Fund
Totals
Assumption:
Add 10,000 cash
Debit
27,500
85,000
15,000
45,000
172,500
credit
410,000
40,000
192,500
Statement o
For the year ende
5,000
605,000
Operating Expenses
4,000
195,000
180,000
5,000
65,000
15,000

Other Revenue:
15,000
156,000
54,000
Other Expense:
Interest Expense
Depreciation
Net Income
47,500
207,500
560,000
6,250
102,000
105,000
65,000
82,500
82,500
62,500
6,000
5,000
136,000
229,800
62,000
339,850
36,700
67,400
30,000
82,500
347,500
Credit
3,500
47,500
65,000
4,000
52,500
172,500
Statement of Activities
For the year ended Dec 31, 20x7
ss Revenues from Services to Patients
Routine Services - In Patients
Routine Services - Out Patients
Special Services
uctions from Gross Revenues
Free Service and Adjustments
Revenues from Services to Patients
rating Expenses
Dietary
Other Expenses
62500
6000
5000
642500
73500
569000
Salaries and Wages Others

Total
100000
36000
136000
74800
155000
229800
35000
27000
62000
277350
62500
339850
30200
6500
36700
44900
22500
67400
871750
-302750
cit from Operations

er Revenue:
General contributions, Donations, Legacies, and Beq
er Expense:
rest Expense
410000
40000
192500
195000
180000
5000
65000
15000
30000
82500
460000
157250
112500
44750
Current Fund
Statement of Financial Position
December 31, 20X7
Assets
Cash
Accounts Receivable
Less: Allowance for Uncolle
Total Assets
54500
50000
4500 45500
17500
47500
165000
Current Fund
December 31,2017
Add: Depreciation charge on properties reported in plant fund
Total
nt Fund
inancial Position
r 31, 20X7
Liabilities and Net Assets
Accounts Payable
Due to Plant Fund
Total Liabilities and Net Assets
44750
82500
127250
82500
75000
-30250
52500
22250
54000
82500
6250
22250
165000
TEMPORARY FUND
C Temporary Fund Balance
Due to General Fund
Cash
Due to General Fund
Cash
PLANT FUND BO
H Bonds Payable
Investment in Plant
I Cash
Due from General Fund
Investment in Plant
Accumulated depreciation
Due from General Fund
Reserve for Plant Improvement and replacements
TEMPORARY FUND BOOKS

65,000
15,000
PLANT FUND BOOKS
ment and replacements
75,000
65,000
82,500
82,500
17,500
47,500
15,000
75,000
65,000
82,500
82,500

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A

Collections were 605,000,

Allowance for Uncollectible Accounts

Expenditures for hospital

Supplies charged out of

Supplies charged out of

Accrued Salaries and Wages

Earnings from Routine Services - Out Patients

General contributions, Donations, Legacies, and Bequests

Due from Temporary Funds

Administrative and General

Outpatient and Emergency

Administrative and General

Accrued Salaries and Wages

Administrative and General

Due to Plant Fund

Current fund net assets

Earnings from Routine Services - Out Patients

General contributions, Donations, Legacies, and Bequests

Deductions from Gross Revenues

Deficit from Operations

Administrative and General

Household and Property

Salaries and Wages

Administrative and General

Uncollectible Accounts Expense

Allowance for Uncollectible Accoun

Expenditures for hospital supplies that were placed in

Supplies charged out of inventory

Supplies charged out of inventory

Payments of hospital expenses other than salaries

Payments of 105,000 were made to bondholders

Payments of 65,000 was made to plant fund,

Earnings from Routine Services - In

General contributions, Donations, L

Outpatient and Emergency

Accrued Salaries and Wages

Administrative and General

Due to Plant Fund

General/Current fund net assets

General contributions, Donations, Legacies, and Bequests

Deductions from Gross Revenues

Deficit from Operations

Salaries and Wages Others

cit from Operations

TEMPORARY FUND BOOKS

PLANT FUND BOOKS

ment and replacements

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