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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
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
Other Expenses

Accrued Salaries and Wages


G
Administrative and General
Dietary
Payments of hospital expenses Household and Property
Professional Care of Patients
other than salaries
Outpatient and Emergency
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
Free Services and Adjustments
Courtesy and Miscellaneous Allowances
Earnings from Routine Services - In Patients
Earnings from Routine Services - Out Patients
Earnings from Special Services
Uncollectible Accounts
Allowance for Uncollectible Accounts

574,000
62,500
6,000

5,000

605,000
Accounts Receivable
Allowance for Uncollectible Accounts
Accounts Receivable

Due from Temporary Funds


General contributions, Donations, Legacies, and Bequests
Grants from government agencies
Donated services and Commodities
Income transfers from temporary funds
Miscellaneous Revenues

4,000

442,500
17,500

15,000
Due from Temporary Funds
Inventory of supplies
Cash
Accounts Payable
Accounts Payable
Cash

Administrative and General


Dietary
Household and Property
Professional Care of Patients

210,000

47,500

12,500
145,000
15,000
20,000

Outpatient and Emergency


Other Expenses
Inventory of Supplies

5,000
10,000

Administrative and General


Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
Other Expenses
Accrued Salaries and Wages

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

Accrued Salaries and Wages


Cash

560,000

Administrative and General


Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
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
Current fund net assets

82,500

Current fund net assets


Due to Plant Fund

82,500

Closing Entries
Earnings from Routine Services - In Patients

410,000

Earnings from Routine Services - Out Patients


Earnings from Special Services
Current fund net assets
Free Services and Adjustments
Courtesy and Miscellaneous Allowances
Bad Debts Expense
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
Other Expenses

40,000
192,500
302,750

General contributions, Donations, Legacies, and Bequests


Grants from government agencies
Donated services and Commodities
Income transfers from temporary funds
Miscellaneous Revenues
Interest Expense
Depreciation
Current Fund Net Assets

195,000
180,000
5,000
65,000
15,000

Accounts
Cash
Accounts Receivable
Allowance for Uncollectible Accounts
Due from Temporary Funds
Inventory of Supplies
Accounts Payable
Due to Plant Fund
Accrued Salaries and Wages
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

Administrative and General


Accrued Salaries and Wages
Dietary
Dietary

562,250

Household and Property


Accrued Salaries and Wages

560,000
Professional Care of Patients
Professional Care of Patients
Accrued Salaries and Wages
Outpatient and Emergency
102,000
Outpatient and Emergency
Accrued Salaries and Wages
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
Gross Revenues from Services to Patients
Routine Services - In Patients
Routine Services - Out Patients
Special Services
Deductions from Gross Revenues
Free Service and Adjustments
Courtesy and Miscellaneous Allowances
Bad Debts
Net Revenues from Services to Patients
Operating Expenses
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
Other Expenses
Deficit from Operations
Other Revenue:
General contributions, Donations, Legacies, and Bequests
Grants from government agencies
Donated services and Commodities
Income transfers from temporary funds
Miscellaneous Revenues
Other Expense:
Interest Expense
Depreciation
Net Income

Salaries and Wages


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

Administrative and General


Cash
Accrued Salaries and Wages
Cash
Dietary
Cash
Dietary
Accrued Salaries and Wages
Household and Property
Cash
Accrued Salaries and Wages
Cash
Professional Care of Patients
Cash
Professional Care of Patients
Accrued Salaries and Wages
Accrued Salaries and Wages
Cash
Outpatient and Emergency
Cash
Outpatient and Emergency
Accrued Salaries and Wages
Accrued Salaries and Wages

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
Inventory of Supplies
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
Due from Plant Funds
Inventory of Supplies
Total Assets

50,000
4,500

45,500
17,500
47,500
165,000

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 plant fund
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

nt Fund
Financial Position
er 31, 20X7
Liabilities and Net Assets
Accounts Payable
Due to Plant Fund
Accrued Salaries and Wages
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
Free Services and Adjustments
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
Due from Temporary Funds
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
Inventory of supplies

Accounts Payable
E
Administrative and General
Dietary
Household and Property
Professional Care of Patients

Supplies charged out of inventory


Outpatient and Emergency
Other Expenses
Payment and Accrual of Payroll

F
Accrued Salaries and Wages
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
Other Expenses

Dietary
Professional Care of Patients
Outpatient and Emergency

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
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
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
Earnings from Special Services
General/Current fund net assets

General contributions, Donations, L


Grants from government agencies
Donated services and Commodities
Income transfers from temporary f
Miscellaneous Revenues

DJUSTING ENTRIES
Accounts Receivable
Free Services and Adjustments
Courtesy and Miscellaneous Allowances
Earnings from Routine Services - In Patients
Earnings from Routine Services - Out Patients
Earnings from Special Services
Uncollectible Accounts Expense
Allowance for Uncollectible Accounts
Cash
Accounts Receivable
Allowance for Uncollectible Accounts
Accounts Receivable
Cash
Due from Temporary Funds
General contributions, Donations, Legacies, and Bequests
Grants from government agencies
Donated services and Commodities
Income transfers from temporary funds
Miscellaneous Revenues
Cash
Due from Temporary Funds
Inventory of supplies
Cash
Accounts Payable
Accounts Payable
Cash
Administrative and General
Dietary
Household and Property
Professional Care of Patients

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

Outpatient and Emergency


Other Expenses
Inventory of Supplies

Accrued Salaries and Wages


Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
Other Expenses
Cash
Dietary
Professional Care of Patients
Outpatient and Emergency
Accrued Salaries and Wages

5,000
10,000

4,000
100,000
73,750
35,000
272,600
29,750
44,900

1,050
4,750
450

Administrative and General


Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
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
General/Current fund net assets

82,500

General/Current fund net assets


Due to Plant Fund

82,500

CLOSING ENTRIES
Earnings from Routine Services - In Patients
Earnings from Routine Services - Out Patients
Earnings from Special Services
General/Current fund net assets
Free Services and Adjustments
Courtesy and Miscellaneous Allowances
Uncollectible Accounts Expense
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
Other Expenses

410,000
40,000
192,500
302,750

General contributions, Donations, Legacies, and Bequests


Grants from government agencies
Donated services and Commodities
Income transfers from temporary funds
Miscellaneous Revenues
Interest Expense
Depreciation
General/Current Fund Net Assets

195,000
180,000
5,000
65,000
15,000

Accounts
Cash
Accounts Receivable
Allowance for Uncollectible Accounts
Due from Temporary Funds
Inventory of Supplies
Accounts Payable
Due to Plant Fund
Accrued Salaries and Wages
General/Current Fund Net Assets
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
Gross Revenues from Services to Patients

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

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
Courtesy and Miscellaneous Allowances
Uncollectible Accounts Expense
Revenues from Services to Patients

rating Expenses
Administrative and General
Dietary
Household and Property
Professional Care of Patients
Outpatient and Emergency
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
Grants from government agencies
Donated services and Commodities
Income transfers from temporary funds
Miscellaneous Revenues

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
Due from Plant Funds
Inventory of Supplies
Total Assets

54500
50000
4500 45500
17500
47500
165000

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 plant fund
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

nt Fund
inancial Position
r 31, 20X7
Liabilities and Net Assets
Accounts Payable
Due to Plant Fund
Accrued Salaries and Wages
General/Current Fund Net Assets
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