Accounting

Hospital equipment that originally cost $150,000 was sold for $60,000. The net b

Hospital equipment that originally cost $150,000 was sold for $60,000. The net b

Hospital equipment that originally cost $150,000 was sold for $60,000. The net book value of the equipment at the date of sale was $75,000. The hospital should report
A.   An operating loss of $15,000.
B.   A nonoperating loss of $15,000.

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f_zah1

If a government hospital gets unrestricted donations that are not a part of a ho

If a government hospital gets unrestricted donations that are not a part of a ho

If a government hospital gets unrestricted donations that are not a part of a hospital's major ongoing operations, those donations are classified on the statement of revenues, expenses, and changes in net position as
A.   An operating revenue

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f_zah1

County General Hospital estimates uncollectible accounts to be $112,000 and cont

County General Hospital estimates uncollectible accounts to be $112,000 and cont

County General Hospital estimates uncollectible accounts to be $112,000 and contractual adjustments to be $79,000. The entry needed to record these estimates would be

      Debit   Credit
A.   Expenses
   Allowance for Doubtful Accounts   $1

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f_zah1

Which of the following statements about services contributed to a government hos

Which of the following statements about services contributed to a government hos

Which of the following statements about services contributed to a government hospital is true?
A.   Government hospitals may report contributed services as operating revenues.
B.   Government hospitals are permitted, but not required, to recogn

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f_zah1

For external financial reporting purposes, charity services are reported as A.E

For external financial reporting purposes, charity services are reported as A.E

For external financial reporting purposes, charity services are reported as
A.   Expenses.
B.   Revenues.
C.   Deductions from revenues.
D.   Nonoperating gains and losses.

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f_zah1

Premium fee revenues should be recognized as A.Revenue in the period the premiu

Premium fee revenues should be recognized as A.Revenue in the period the premiu

Premium fee revenues should be recognized as
A.   Revenue in the period the premium was received.
B.   Revenue in the period covered by the premium.
C.   Deferred revenue until the services are actually provided.
D.   Revenue only if serv

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f_zah1

Patient service revenues of a government hospital should be reported in the stat

Patient service revenues of a government hospital should be reported in the stat

Patient service revenues of a government hospital should be reported in the statement of revenues, expenses, and changes in net position
A.   At the standard rates charged for the service regardless of bad debts, contractual adjustments, policy di

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f_zah1

Hospital operating revenues include all of the following except A.Investment in

Hospital operating revenues include all of the following except A.Investment in

Hospital operating revenues include all of the following except
A.   Investment income
B.   Patient service revenue
C.   Premium fees
D.   Cafeteria sales

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f_zah1

The measurement focus used by governmental hospitals is the A.Cash measurement

The measurement focus used by governmental hospitals is the A.Cash measurement

The measurement focus used by governmental hospitals is the
A.   Cash measurement focus.
B.   Current financial resources measurement focus.
C.   Economic resources measurement focus.
D.   Accrual measurement focus.

goji.go   274   1 Reply

f_zah1

Hospitals disclose the level of charity services provided by disclosing A.The a

Hospitals disclose the level of charity services provided by disclosing A.The a

Hospitals disclose the level of charity services provided by disclosing
A.   The amount of revenues foregone in providing the services
B.   The direct costs of providing charity services
C.   Both the direct and indirect costs of providing c

goji.go   266   1 Reply

f_zah1

The statement of cash flows of nongovernment, not-for-profit colleges and univer

The statement of cash flows of nongovernment, not-for-profit colleges and univer

The statement of cash flows of nongovernment, not-for-profit colleges and universities would report which category of cash flows?
A.   Investing.
B.   Noncapital financing.
C.   Capital and related financing.
D.   Nonoperating financing.

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f_zah1

Which financial statements are required for nongovernment, not-for-profit colleg

Which financial statements are required for nongovernment, not-for-profit colleg

Which financial statements are required for nongovernment, not-for-profit colleges and universities?
A.   Balance sheet, statement of revenues, expenditures, and other changes, and statement of cash flows.
B.   Balance sheet, statement of reven

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f_zah1

Which item is reported significantly differently by government hospitals than by

Which item is reported significantly differently by government hospitals than by

Which item is reported significantly differently by government hospitals than by nongovernment, not-for-profit hospitals?
A.   Patient service revenues.
B.   Net position.
C.   Assets limited as to use.
D.   Charity services.

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f_zah1

The standard charges for all services provided by a government hospital during t

The standard charges for all services provided by a government hospital during t

The standard charges for all services provided by a government hospital during the year were $5,000,000. The charges included charges for charity services valued at $100,000. They were reduced by contractual adjustments related to insurance contracts

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f_zah1

Restricted assets of a government hospital are used to account for resources A.

Restricted assets of a government hospital are used to account for resources A.

Restricted assets of a government hospital are used to account for resources
A.   Restricted by donors or grantors.
B.   Restricted by bond and other contracts.
C.   Restricted by the hospital board of directors.
D.   Restricted by manage

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f_zah1

A government hospital would not report which category of net position:

A government hospital would not report which category of net position:

A government hospital would not report which category of net position:
A.   Specific purpose net position.
B.   Unrestricted net position.
C.   Restricted net position.
D.   Net investment in capital assets.

goji.go   164   1 Reply

f_zah1

Management’s discussion and analysis must be reported by A.All colleges and uni

Management’s discussion and analysis must be reported by A.All colleges and uni

Management’s discussion and analysis must be reported by
A.   All colleges and universities.
B.   Nongovernment not-for-profit colleges and universities.
C.   All government colleges and universities.
D.   Only government colleges and uni

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f_zah1

Fees collected from students but restricted to finance construction of a student

Fees collected from students but restricted to finance construction of a student

Fees collected from students but restricted to finance construction of a student recreation facility should be reported in the statement of cash flows as:
A.   Operating activities.
B.   Noncapital financing activities.
C.   Capital and rela

goji.go   174   1 Reply

f_zah1

Cash collected by a government university from tuition and fees should be report

Cash collected by a government university from tuition and fees should be report

Cash collected by a government university from tuition and fees should be reported in the statement of cash flows as
A.   Operating activities.
B.   Noncapital financing activities.
C.   Capital and related financing activities.
D.   Inve

goji.go   226   1 Reply

f_zah1

A state university receives an appropriation for from the state for capital proj

A state university receives an appropriation for from the state for capital proj

A state university receives an appropriation for from the state for capital projects of $5 million and a state appropriation for other purposes of $20 million. How should the amounts received be reported in the university’s statement of revenues, exp

goji.go   248   1 Reply

f_zah1

A government university collected unrestricted student fees of $200,000 and fees

A government university collected unrestricted student fees of $200,000 and fees

A government university collected unrestricted student fees of $200,000 and fees restricted for technology of $400,000 in the current academic year.
A.   The full $600,000 should be reported as revenues for the academic year.
B.   $200,000 shou

goji.go   246   1 Reply

f_zah1

Which of the following classifications of net position likely would be found on

Which of the following classifications of net position likely would be found on

Which of the following classifications of net position likely would be found on the statement of net position of a governmental university that reports as a business-type activity?
A.   Temporarily restricted net position.
B.   Unrestricted net

goji.go   131   1 Reply

f_zah1

A state college receives an annuity gift of $200,000 from an individual. The ind

A state college receives an annuity gift of $200,000 from an individual. The ind

A state college receives an annuity gift of $200,000 from an individual. The individual is to receive $18,000 a year for 10 years. The present value of the payments to the individual is $150,000. How much revenues should the college report from this

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f_zah1

The statement of cash flows of government colleges and universities engaged only

The statement of cash flows of government colleges and universities engaged only

The statement of cash flows of government colleges and universities engaged only in business-type activities would report all of the following sections except:
A.   Investing.
B.   Noncapital financing.
C.   Capital and related financing.

goji.go   208   1 Reply

f_zah1

The balance sheet of nongovernment, not-for-profit colleges and universities wou

The balance sheet of nongovernment, not-for-profit colleges and universities wou

The balance sheet of nongovernment, not-for-profit colleges and universities would report which component of net assets?
A.   Unrestricted net assets.
B.   Restricted net position.
C.   Net investment in capital assets.
D.   Nonspendable

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f_zah1

The statement of net position of government colleges and universities engaged on

The statement of net position of government colleges and universities engaged on

The statement of net position of government colleges and universities engaged only in business-type activities would not report which component of net position?
A.   Unrestricted net position.
B.   Temporarily restricted net position.
C.   

goji.go   190   1 Reply

f_zah1

Which financial statements are required for government colleges and universities

Which financial statements are required for government colleges and universities

Which financial statements are required for government colleges and universities engaged only in business-type activities?
A.   Statement of net position, statement of revenues, expenditures, and other changes, and statement of cash flows.
B.

goji.go   235   1 Reply

f_zah1

A public university received a restricted donation from one of their trustees. T

A public university received a restricted donation from one of their trustees. T

A public university received a restricted donation from one of their trustees. The donation was to be used to pay debt service costs for one year on the new athletic field. When received, the donation will be reported on the statement of cash flows a

goji.go   308   1 Reply

f_zah1

If a government university provides loans to qualifying students for tuition and

If a government university provides loans to qualifying students for tuition and

If a government university provides loans to qualifying students for tuition and fees, the loans should be reported on the statement of cash flows as
A.   Operating activities.
B.   Noncapital financing activities.
C.   Capital and related f

goji.go   194   1 Reply

f_zah1

A university's endowment fund has investments that were purchased for $400,000.

A university's endowment fund has investments that were purchased for $400,000.

A university's endowment fund has investments that were purchased for $400,000. As of the end of the fiscal year, the fair value of the investments decreased by $33,000. What journal entry is required to reflect the change in the fair market val

goji.go   287   1 Reply

f_zah1

Stock valued at $15,000 was donated to a college. The donor stipulated that the

Stock valued at $15,000 was donated to a college. The donor stipulated that the

Stock valued at $15,000 was donated to a college. The donor stipulated that the stock was to be immediately sold and the proceeds used toward college's capital campaign. The entry to record the receipt of the gift would be

      Debit   Cre

goji.go   272   1 Reply

f_zah1

Chase Foundation establishes a $1,000,000 trust for a government university. The

Chase Foundation establishes a $1,000,000 trust for a government university. The

Chase Foundation establishes a $1,000,000 trust for a government university. The local bank is appointed as trustee of the fund. The income of the trust can be used to support any activity of the university. In the university's statement of net

goji.go   287   1 Reply

f_zah1

A government university received a cash donation $1,000,000 to create an endowme

A government university received a cash donation $1,000,000 to create an endowme

A government university received a cash donation $1,000,000 to create an endowment. The income of the endowment can be used to support any activity of the university. In the balance sheet, the $1,000,000 endowment should be included in which componen

goji.go   257   1 Reply

f_zah1

A state university assessed its students $2,000,000 of tuition and fees. However

A state university assessed its students $2,000,000 of tuition and fees. However

A state university assessed its students $2,000,000 of tuition and fees. However, only $1,500,000 was expected to be collected because of an estimated uncollectible amount of $25,000, scholarship allowances of $400,000, and tuition waivers to staff o

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f_zah1

Government colleges and universities engaged only in business-type activities wo

Government colleges and universities engaged only in business-type activities wo

Government colleges and universities engaged only in business-type activities would report state appropriation as
A.   Operating revenues.
B.   Special items.
C.   Other financing sources.
D.   Nonoperating revenues.

goji.go   214   1 Reply

f_zah1

A wealthy alumnus donated land to be used for a new arts and sciences building a

A wealthy alumnus donated land to be used for a new arts and sciences building a

A wealthy alumnus donated land to be used for a new arts and sciences building at the local state university. The land has a fair market value of $250,000. The donor purchased the land ten years ago at a cost of $75,000. The entry to record the recei

goji.go   235   1 Reply

f_zah1

A government university that chooses to report as a business-type special purpos

A government university that chooses to report as a business-type special purpos

A government university that chooses to report as a business-type special purpose government, purchases land for a planned dormitory by securing a ten year bank loan. The entry to record the purchase and procurement of funding would include
A.   A

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f_zah1

If actuarial assumptions change such that the annuity payable is actually less t

If actuarial assumptions change such that the annuity payable is actually less t

If actuarial assumptions change such that the annuity payable is actually less than originally recorded, the change should be reported
A.   Immediately as a reduction in the annuity payable.
B.   Immediately as an expense.
C.   As an expense

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f_zah1

Which type of gifts would normally not be reported by a government university? A

Which type of gifts would normally not be reported by a government university? A

Which type of gifts would normally not be reported by a government university?
A.   Split-interest annuity gifts.
B.   Split-interest life income gifts.
C.   Trust held by others.
D.   Endowment gifts.

goji.go   231   1 Reply

f_zah1

A public college was the recipient of an annuity gift. The elderly alumnus donat

A public college was the recipient of an annuity gift. The elderly alumnus donat

A public college was the recipient of an annuity gift. The elderly alumnus donated cash of $110,000 and investments of $610,000 with the restriction that the college pays them a sum of $50,000 per year for five years. If the annuity payable has been

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f_zah1