In: Accounting
Whitt Valley Presbyterian Hospital is a nonprofit initial care facility. For the hospital’s calendar year ending December 31, 2019, prepare (I) journal entries to record the transactions listed in a. through n. below, (II) a trial balance based on your entries and the beginning balances listed at o. below, and (III) a Statement of Operations and a Statement of Changes in Net Assets for the hospital.
Whitt Valley Presbyterian Hospital
Trial Balance
As of January 1, 2019
Without Donor Restrictions |
With Donor Restrictions |
|||
Debit |
Credit |
Debit |
Credit |
|
Cash |
$1,485,000 |
$401,600 |
||
Investments |
153,000 |
40,000 |
||
Patient accounts receivable |
250,000 |
|||
Inventory—drugs |
401,000 |
|||
Property, plant, and equipment |
4,400,000 |
|||
Accumulated depreciation |
$600,000 |
|||
Accounts payable |
21,000 |
|||
Net assets, January 1, 2019 |
- |
6,068,000 |
- |
$441,600 |
$6,689,000 |
$6,689,000 |
$441,600 |
$441,600 |