Reference no: EM132770068
Question - Palo Alto NFP Hospital, a not-for-profit health care organization, had the following transactions.
1. Services provided to patients amounted to $9,792,000, of which $466,000 was for charity care; $944,000 was paid by uninsured patients; and $8,382,000 was billed to Medicare, Medicaid, and insurance companies.
2. Donated pharmaceuticals and medical supplies valued at $281,000 were received and utilized as general expenses.
3. Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $5,381,000 of the $8,382,000 billed by the hospital during the year (see transaction 1).
4. An unconditional contribution of $5,160,000 was received in cash from a donor to construct a new facility for care of Alzheimer's patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year.
5. A total of $1,173,000 was received from the following activities/sources: cafeteria and gift shop sales, $870,000; medical seminars, $141,000; unrestricted transfers from the Palo Alto NFP Hospital Foundation, $91,000; and fees for medical transcripts, $71,000.
6. Uncollectible accounts totaling $4,850 were written off. The allowance for uncollectible receivables was increased by $9,170.
Required - Prepare the revenues, gains, and other support without donor restrictions section of Evanston General Hospital's statement of operations for the current year.
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