Record the Following Transactions for Porter Hospital,a Private,nonprofit Hospital

question 43

Essay

Record the following transactions for Porter Hospital,a private,nonprofit hospital:
1.Gross patient services revenues: $25,000,000.Billed to patients.
2.Included in the above revenues are: charity services,$500,000; contractual adjustments,$11,000,000; and estimated uncollectible amounts,$250,000.
3.Purchased equipment by issuing a 5-year note for $200,000.
4.Received cash donations restricted for a capital building addition program,$5,100,000.
5.Incurred and paid $1,700,000 of contractor billings for the capital building program.

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Definitions:

Refreshment Breaks

Short pauses in work or activities intended to allow individuals to rest and rejuvenate, often involving snacks or drinks.

Safe Working Conditions

The provision of an environment for employees that minimizes risks and hazards, ensuring their health and safety.

Satisfier Factors

Elements of a job that can lead to satisfaction and motivate employees by fulfilling intrinsic desires.

Two-Factor Theory

A psychological theory proposing that employee motivation is influenced by hygiene factors that can prevent dissatisfaction and motivators that can create satisfaction.