
Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910
Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910 Exercise 74
During the year ended December 31, 2010, Anderson Hospital (operated as a private not-for-profit organization) received and incurred the following:
Fair value of donated medicines.....................................$ 54,000
Fair value of donated services (replaced salaried workers)..................38,000
Fair value of additional donated services
(did not replace salaried workers)...................................11,000
Interest income.................................................23,000
Regular charges to patients........................................176,000
Charity care....................................................210,000
Bad debts......................................................66,000
How should this hospital report each of these items
Fair value of donated medicines.....................................$ 54,000
Fair value of donated services (replaced salaried workers)..................38,000
Fair value of additional donated services
(did not replace salaried workers)...................................11,000
Interest income.................................................23,000
Regular charges to patients........................................176,000
Charity care....................................................210,000
Bad debts......................................................66,000
How should this hospital report each of these items
Explanation
Reporting receipts for a nonpr...
Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
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