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.

---

Definitions:

Charting

The process of recording information in a patient's medical record, detailing the care, observations, and medical history of the patient.

Objective Factors

Quantifiable or measurable attributes that are not influenced by personal feelings, interpretations, or prejudice, used in decision-making or assessment.

External Factors

Elements outside of an individual or system that can influence or affect outcomes, behaviors, or processes.

Instrument

An instrument in the medical context typically refers to a tool or device designed for specific diagnostic or therapeutic tasks during treatment or surgery.