Administration General services Nursing services Other professional services Totals 12/31/2020 $ 9,200 12/31/2023 $ 8,100 9,900 11,000 19,000 17,600 39,300 44,000 $77,400 $80,700 (c) Portion of mortgage payable due within one year, $520,000. (8) A $671 unrealized loss on investments occurred. (9) Nominal accounts were closed. Necessary adjustments were made to increase the Net Assets-Without Donor Restrictions, Designated for Plant. Required a-1. Prepare journal entry for the preceding transactions during the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not- for-profit hospital. a-2. Prepare closing entries for the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. b. Prepare a balance sheet as of December 31, 2023. c-1. Prepare a statement of operations for the year ended December 31, 2023. c-2. Prepare a statement of changes in net assets for the year ended December 31, 2023. d. Prepare a statement of cash flows for the year ended December 31, 2023. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Req C1 Req C2 Req D Prepare journal entry for the preceding transactions during the fiscal year ended Decemb Community Hospital is a not-for-profit hospital. (If no entry is required for a transaction/e first account field.) View transaction list Journal entry worksheet A B C D E F G H I J
Administration General services Nursing services Other professional services Totals 12/31/2020 $ 9,200 12/31/2023 $ 8,100 9,900 11,000 19,000 17,600 39,300 44,000 $77,400 $80,700 (c) Portion of mortgage payable due within one year, $520,000. (8) A $671 unrealized loss on investments occurred. (9) Nominal accounts were closed. Necessary adjustments were made to increase the Net Assets-Without Donor Restrictions, Designated for Plant. Required a-1. Prepare journal entry for the preceding transactions during the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not- for-profit hospital. a-2. Prepare closing entries for the fiscal year ended December 31, 2023, assuming that Edwards Lake Community Hospital is a not-for-profit hospital. b. Prepare a balance sheet as of December 31, 2023. c-1. Prepare a statement of operations for the year ended December 31, 2023. c-2. Prepare a statement of changes in net assets for the year ended December 31, 2023. d. Prepare a statement of cash flows for the year ended December 31, 2023. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Req C1 Req C2 Req D Prepare journal entry for the preceding transactions during the fiscal year ended Decemb Community Hospital is a not-for-profit hospital. (If no entry is required for a transaction/e first account field.) View transaction list Journal entry worksheet A B C D E F G H I J
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Administration
General services
Nursing services
Other professional services
Totals
12/31/2020
$ 9,200
12/31/2023
$ 8,100
9,900
11,000
19,000
17,600
39,300
44,000
$77,400
$80,700
(c) Portion of mortgage payable due within one year, $520,000.
(8) A $671 unrealized loss on investments occurred.
(9) Nominal accounts were closed. Necessary adjustments were made to increase
the Net Assets-Without Donor Restrictions, Designated for Plant.
Required
a-1. Prepare journal entry for the preceding transactions during the fiscal year ended
December 31, 2023, assuming that Edwards Lake Community Hospital is a not-
for-profit hospital.
a-2. Prepare closing entries for the fiscal year ended December 31, 2023, assuming
that Edwards Lake Community Hospital is a not-for-profit hospital.
b. Prepare a balance sheet as of December 31, 2023.
c-1. Prepare a statement of operations for the year ended December 31, 2023.
c-2. Prepare a statement of changes in net assets for the year ended December 31,
2023.
d. Prepare a statement of cash flows for the year ended December 31, 2023.
Complete this question by entering your answers in the tabs below.
Req A1
Req A2
Req B
Req C1
Req C2
Req D
Prepare journal entry for the preceding transactions during the fiscal year ended Decemb
Community Hospital is a not-for-profit hospital. (If no entry is required for a transaction/e
first account field.)
View transaction list
Journal entry worksheet
A
B
C
D E
F
G H
I
J
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