Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Question
Chapter 16, Problem 23EP
a.
To determine
Prepare a statement of operations and a statement of changes in net assets for the year ended September 30, 2020.
b.
To determine
Prepare a balance sheet for Rehabilitation Hospital C as of September 30, 2020.
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2.
Record the following transactions on the books of Hope Hospital, which follow FASB (not-for-profit) and AICPA standards. The year is 2024.
Note: If no entry is required for a transaction or event, select "No Journal Entry Required" in the first account field.
Hope received $51,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be received and expended in 2024.
Hope received $104,000 in pledges that indicated the money would be received in 2025. The donors imposed no restrictions other than it could be used for any purpose desired by the board.
Hope expended $55,000 for nursing training, using $49,000 of donor-restricted resources received in 2023 for that purpose.
On June 15, 2024, Hope was awarded a $66,000 grant for cancer research by the U.S. Department of Agriculture. During 2024, Hope had qualified expenses under the grant totaling $42,300. This is a cost reimbursement grant.
Hope received $288,000 in cash. The…
2.
Record the following transactions on the books of Hope Hospital, which follow FASB (not-for-profit) and AICPA standards. The year is 2024.
Note: If no entry is required for a transaction or event, select "No Journal Entry Required" in the first account field.
Hope received $51,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be received and expended in 2024.
Hope received $104,000 in pledges that indicated the money would be received in 2025. The donors imposed no restrictions other than it could be used for any purpose desired by the board.
Hope expended $55,000 for nursing training, using $49,000 of donor-restricted resources received in 2023 for that purpose.
On June 15, 2024, Hope was awarded a $66,000 grant for cancer research by the U.S. Department of Agriculture. During 2024, Hope had qualified expenses under the grant totaling $42,300. This is a cost reimbursement grant.
Hope received $288,000 in cash. The…
Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2021:
Required:1. Determine Douglas-Roberts's pension expense for 2021.2. Prepare the appropriate journal entries to record the pension expense, to record any 2021 gains and losses, to record the cash contribution to plan assets and to record retiree benefits.
Record annual pension expense.
Record the change in plan assets.
Record the change in the PBO.
Record the cash contribution to plan assets.
Record the retiree benefits paid.
Chapter 16 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 16 - Prob. 1QCh. 16 - Prob. 2QCh. 16 - Prob. 3QCh. 16 - Prob. 4QCh. 16 - What is an example of a performance indicator and...Ch. 16 - Prob. 6QCh. 16 - Prob. 7QCh. 16 - What are assets limited as to use and how do they...Ch. 16 - Prob. 9QCh. 16 - Prob. 10Q
Ch. 16 - Prob. 11QCh. 16 - Prob. 12CCh. 16 - Prob. 17.1EPCh. 16 - Prob. 17.2EPCh. 16 - Which of the following is a true statement...Ch. 16 - Prob. 17.4EPCh. 16 - Prob. 17.5EPCh. 16 - Prob. 17.6EPCh. 16 - Prob. 17.7EPCh. 16 - Wellness Psychiatric Clinic received a large...Ch. 16 - Prob. 17.9EPCh. 16 - Prob. 17.10EPCh. 16 - Prob. 18EPCh. 16 - Prob. 19EPCh. 16 - The Kyle Sports Medicine facility is a...Ch. 16 - Prob. 21EPCh. 16 - Prob. 22EPCh. 16 - Prob. 23EPCh. 16 - Prob. 24EPCh. 16 - Prob. 25EP
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