Complete?Question 15-1, in approximately 30 to 90 words 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. Complete?Exercise 16-19, a and b 16-19 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). ? 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. ? Donated pharmaceuticals and medical supplies valued at $265,000 were received and utilized as general expenses. ? 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). ? 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. ? 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. ? Uncollectible accounts totaling $3,250 were written off. The allowance for uncollectible receivables was increased by $1,170. Required ? Record the preceding transactions in general journal form. ? 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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