![]() ![]() Tuition and fees assessed total P10,000,000, 85% of which was collected by year-end tuition scholarships were granted for P800,000, and P400,000 was expected to be uncollectible.ī. The following are the selected transactions for a private, not-for-profit university.Ī. On the hospital's statement of operations for the year ended June 30, 2022, the contribution of medicine would increase operating revenues byġ4. Twenty five percent of the medicine was used by the hospital during the year ended June 30, 2022. The cost of the medicine to the company was P120,000, and its market value was P150,000. A private, not-for-profit hospital received a donation of medicine from the XYZ Pharmaceutical Company on February 28, 2022. How much is the increase (decrease) in restricted net assets during the year?ġ3. During the year, equipment costing P200,000 was acquired with restricted contributions. All of the restricted contributions were restricted by the donor for the purchase of equipment. On March 5, 2023, a non-profit organization received unrestricted cash contributions of P1,000,000 and restricted cash contributions of P600,000. ![]() How much is the net patient service revenue?Ī. Uncollectible accounts receivable of P85,000 The hospital realized cash of P2,150,000 from patients’ billings because of the following reductions:Ģ. ![]() A not-for-profit hospital billed patients P2,500,000 for services rendered during the year ended December 31, 2022. Advances to Officers and Employees, P20,000ġ1. The debit journal entry to record the refund of excess cash advance includesĭ. The Department Heads submitted the liquidation report and supporting documents of cash advances and refunded P20,000 of the excess cash advance. Department of Finance granted cash advance for the travelling expenses of its Department Heads to attend a convention in Davao in the amount of P500,000. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |