Which fund would be used to record the receipt of the money

Assignment Help Accounting Basics
Reference no: EM13873843

Assume that Brite- Hope Hospital in E13- 2 is a not for profit hospital. Using the following letters, identify which net asset classification would be affected by the events or activities listed in E13- 2:
a. Unrestricted net assets
b. Temporarily restricted net assets
c. Permanently restricted net assets
In E13- 2:
Using these codes, identify which fund(s) would be used to account for the following events or activities:
1. The operations of the cafeteria.
2. A gift received from an individual for medical research ( consider only the receipt of the gift).
3. Income is earned on investments of money donated by the Manybucks Corporation ( the original gift and all income earned must be used to provide up- to- date equipment for the hospital).
4. The hospital received $ 1 million in securities from an individual; the principal of the gift must be maintained intact ( consider only the receipt of the gift).
5. The managing board of the hospital decided to start a fund for cancer research. It transferred $ 30,000 into the fund. Which fund would be used to record the receipt of the money?
6. The payment of salaries to the nursing staff.
7. Depreciation is recorded on equipment in use.
8. The purchase of additional hospital equipment.

Reference no: EM13873843

Questions Cloud

During january, the hospital spent $ 15,000 to train : During January, the hospital spent $ 15,000 to train the nurses. Prepare journal entries to record the transactions.
Identify the innovator from 1815-1860 : Identify the innovator from 1815-1860
Several adults donated their time selling merchandise : Several adults donated their time (worth $ 5,000) selling merchandise in the hospital gift shop. The hospital billed Medicare $ 100,000 for services provided at its established rates. The prospective billing arrangement gives Medicare a 40 percent ..
Discuss the limitations of your study : Discuss the limitations of your study. Do not leave this paragraph empty; there are always limitations (e.g. time, funding, scope, etc.)
Which fund would be used to record the receipt of the money : The managing board of the hospital decided to start a fund for cancer research. It transferred $ 30,000 into the fund. Which fund would be used to record the receipt of the money? The payment of salaries to the nursing staff.
What is a coroner : What restrictions apply to a crime scene investigator with regard to a body within the crime scene? Explain and What is the role of a coroner's investigator? Explain.
Identify which fund(s) would be used to account : Using these codes, identify which fund(s) would be used to account for the following events or activities The operations of the cafeteria.
Evaluate the impact of the chosen studies in time : For this part of assessment, you will evaluate the impact of the chosen studies in time of how they have investigated social change and how they have benefited society
The fasb publishes its accounting standards codification : The FASB publishes its Accounting Standards Codification (ASC) as the source of accounting and reporting guidance for  hospitals.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Calculate compounded monthly interest for mortgage loan

The problem belongs to Accounting and it discusses about calculation of principal balance and compounded monthly interest for mortgage loan

  Prestopinos management is trying to analyze the effect of a

prestopino corporation produces motorcycle batteries. prestopino turns out 1500 batteries a day at a cost of 5 per

  What is the maximum amount the company should be willing to

fouch company makes 30000 units per year of a part it uses in the products it manufactures. the unit product cost of

  Under what conditions would they become ineffective

Once a strong system of internal controls has been established in a firm, what does it take to make them work efficiently? Under what conditions would they become ineffective?

  Problem regarding expected net income

What would expected net income be if the company experienced a 10 percent increase in fixed costs and 10 percent increase in sales volume?

  Under varible costing what is the cost of finished goods

smithison company gathered the following information for the year ended april 30 2015units produced 11200units expected

  On january 1 a company borrowed 70000 cash by signing a 9

on january 1 a company borrowed 70000 cash by signing a 9 installment note that is to be repaid with 4 annual year-end

  The payroll tax expense and the suta taxes payable

The Payroll Tax Expense and the SUTA Taxes payable.

  How long will it take to double your money if you solve

you invest 200 into a mutual fund today that pays 5.0 percent interest. how long will it take to double your money? if

  Duggan company applies manufacturing overhead to jobs on

duggan company applies manufacturing overhead to jobs on the basis of machine hours used. overhead costs are expected

  A corporation purchases 10000 shares of its own 10 par

a corporation purchases 10000 shares of its own 10 par common stock for 35 per share recording it at cost. what will be

  Max a cash basis taxpayer had 2100 in state income taxes

max a cash basis taxpayer had 2100 in state income taxes withheld from his paychecks during the current year. in april

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd