Prepare a schedule calculating the change in unrestricted, permanently restricted and temporarily restricted net assets.

Provide a few examples of community resources that should be put in place to assist your population in resolving their health care needs. What gaps in service do you see that affect your population?
December 8, 2020
Write clearly and concisely about health services organization management using proper writing mechanics.
December 8, 2020

Prepare a schedule calculating the change in unrestricted, permanently restricted and temporarily restricted net assets.

Accounting and Reporting for Private not-for-profit
organizations
A local private not-for-profit health care entity incurred the
following transactions during the current year. Record
each of these transactions in appropriate journal entry
form. Prepare a schedule calculating the change in
unrestricted, permanently restricted and temporarily restricted net
assets.
see attached for transactions on the “given” tab and also a
template

Given P18-37:

 

 

Local Private Not-for-profit Health Care
Entity:

a.

Announced equipment acquisition plan; invested funds

$ 160,000

b.

Received donation for nursing salary supplements

$ 80,000

c.

Expended restricted funds received previous year for
medicines

$ 25,000

d.

Charged patients

$ 600,000

Portion to be paid by third-party payors

80%

e.

Recorded depreciation expense

$ 38,000

f.

Received interest income on investments from (a.)

$ 15,000

g.

Estimated as uncollectible accounts

$ 20,000

Contractual adjustments expected by third-party payors

$ 30,000

h.

Medications from (c.) were consumed

$ 25,000

i.

Investments from (a.) were sold

$ 172,000

Previously donated cash stipulated to be used for plant
assets

$ 25,000

Equipment purchased

$ 197,000

j.

Unrestricted pledges received

$ 126,000

Pledges paid immediately

10%

Pledges estimated as uncollectible

$
9,000

Present value of the receivable

$ 98,000

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