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Study Resources (Accounting)

53.Dura Foundation, a voluntary health and welfare organization dedicated to finding medical cures and supported by contributions from the general public, included the following costs in its Statement of Functional Expenses for the year ended December 31, 2013: What should Dura Foundation report as supporting service expenses? .
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59.A not-for-profit organization (Charity A) raises money for other charitable organizations. Charity A receives $10,000 to distribute to Charity B. Assume that the donor retains the right to revoke or redirect the gift. Prepare the journal entries for Charity A and Charity B. The entries should be for the gift when.
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63.Wakefield Home is a private not-for-profit healthcare organization offering services for a fee. In the first quarter of 2013, Wakefield Home rendered services of $300,000 to patients. Of this amount 75% will be paid by patients, and $25,000 will be adjusted based on estimated insurance agreements. The remaining amount is.
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11.Historically, what was the pattern of reporting of not-for-profit organizations? (1) Patterned after for-profit accounting (2) Emphasis on separate fund types (3) Disregard for the entire entity A. 1 only. B. 2 only. C. 1 and 2 only. D. 1, 2 and 3. E. 2 and 3 only. 12.Which of the following statements is required for voluntary health.
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58.A not-for-profit organization (Charity A) raises money for other charitable organizations. Charity A receives $10,000 to distribute to Charity B. Assume there are no donor rights to revoke or redirect the gift. Prepare the journal entries for Charity A when the gift is received, and for Charity A and Charity B.
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62.Wakefield Home is a private not-for-profit healthcare organization offering services for a fee. In the first quarter of 2013, Wakefield Home rendered services of $300,000 to patients. Of this amount 75% will be paid by patients, and $25,000 will be adjusted based on estimated insurance agreements. The remaining amount is.
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55.The Yelton Center is a voluntary health and welfare organization. During 2012, unrestricted pledges of $780,000 were received by the center, sixty percent of which were payable in 2012, with the remainder payable in 2013 (for use in 2013). Officials estimated that fifteen percent of these pledges will be uncollectible. Required: How.
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Multiple Choice Questions 1.For government-wide financial statements, what account is credited when a piece of equipment is leased on a capital lease? A. Equipment-Capital Lease B. Encumbrances-Long Term C. Encumbrances-Lease Obligations D. Capital Lease Obligation E. The lease is not recorded. 2.For fund financial statements, what account is credited when a piece of equipment is leased.
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61.Wakefield Home is a private not-for-profit healthcare organization offering services for a fee. In the first quarter of 2013, Wakefield Home rendered services of $300,000 to patients. Of this amount 75% will be paid by patients, and $25,000 will be adjusted based on estimated insurance agreements. The remaining amount is.
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54.During 2013, the Garfield Humane Society, a voluntary health and welfare organization, received cash donations of $892,000 and membership dues of $62,000. A member of the Humane Society donated services valued at $8,000 that would otherwise have been performed by a paid staff member. A pet food manufacturer donated dog.
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56.A local social worker, earning $12 per hour working for the state government, contributed 600 hours of time at no charge to the Yelton Center, a voluntary health and welfare organization. If not for these donated services, an additional staff person would have been hired by the organization. Required: How should the.
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49.For the month of December 2013, patient charges at Northfield Hospital (a not-for-profit hospital) were $2,720,000. Third-party payors were billed $1,800,000. $520,000 of the $2,720,000 was expected to be uncollectible. Required: Prepare the necessary journal entry to record the anticipated uncollectible amount .
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21.Which statement is false regarding the government-wide Statement of Net Assets? A. the purpose of the Statement of Net Assets is to report the economic resources of the government as a whole. B. assets are reported excluding capital assets. C. capital assets are reported net of depreciation. D. investments are reported at fair.
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Multiple Choice Questions 1.Reciprocal transfers where both parties give and receive something of value are A. contributedservices. B. unconditional promises to give. C. endowment transactions. D. exchange transactions. E. required contributions. 2.Which of the following types of health care organizations follow FASB Accounting Standards Codification for GAAP? A. Option A B. Option B C. Option C D. Option D E. Option.
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44.For a not-for-profit organization, when is recognition of contributions of artworks and historical treasures not required? 45.How does a recipient not-for-profit organization record the receipt of a gift that will be transferred without restriction to another charitable organization? What if the donor retains the right to revoke or redirect the.
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52.Dura Foundation, a voluntary health and welfare organization dedicated to finding medical cures and supported by contributions from the general public, included the following costs in its Statement of Functional Expenses for the year ended December 31, 2013: What should Dura Foundation report as program service expenses? .
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50.For the month of December 2013, patient charges at Northfield Hospital (a not-for-profit hospital) were $2,720,000. Third-party payors were billed $1,800,000. In this month, there were several patients that had no health insurance and due to their low income level, the hospital decided that $85,000 of receivables would not be collectible. Required: Prepare.
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51.For the month of December 2013, patient charges at Northfield Hospital (a not-for-profit hospital) were $2,720,000. Third-party payors were billed $1,800,000. The hospital estimated that contractual adjustments would reduce the amount collected from third-party payors to $1,710,000. Required: Prepare the necessary journal entry to record the contractual adjustments. .
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