Research paper and 2 questions

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Research an article regarding accounting in government.

Write a summary of the article in 350 to 700 words.

Apply concepts you’ve learned in this course to assessing the content of the article and any outcomes the article describes

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Complete Exercise 16-19, a and b, p. 679.

Entries should be proper format

Please use Microsoft Excel.

Revenue and Related Transactions. During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summarized for the year).

  1. Services provided to inpatients and outpatients amounted to $9,600,000, of which $450,000 was for charity care, $928,000 was paid by uninsured patients, and $8,222,000 was billed to Medicare, Medicaid, and insurance companies.
  2. Donated pharmaceuticals and medical supplies valued at $265,000 were received and utilized as general expenses.
  3. Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $5,365,000 of the $8,222,000 billed by the hospital during the year (see transaction 1).
  4. An unconditional contribution of $5,000,000 was received in cash from a donor to construct a new facility for care of Alzheimers patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year.
  5. A total of $965,000 was received from the following activities/sources: cafeteria and gift shop sales, $710,000; medical seminars, 125,000; unrestricted transfers from the Evanston General Hospital Foundation, $75,000; and fees for medical transcripts, $55,000.
  6. Uncollectible accounts totaling $3,250 were written off. The allowance for uncollectible receivables was increased by $1,170.

Required

  1. Record the preceding transactions in general journal form.
  2. Prepare the unrestricted revenues, gains, and other support section of Evanston General Hospital’s statement of operations for the current year, following the format in Illustration 16-4

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Complete Question 15-1, p. 632, in approximately 30 to 90 words.

Complete this using Microsoft Word

15-1. Identify the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university.

Accounting for Government and Non-Profit Entities, Ch. 15

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