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25. Which entry would be the correct entry to record pledges of $100,000 to a
public television fundraiser? The public television organization estimates that 5%
of the funds will be uncollectible.
26. Which entry would be the correct entry to record that a not-for-profit
organization collected $80,000 of the amounts pledged and wrote off $3,000 of
the amounts pledged as amounts uncollectible?
27. In not-for-profit accounting, an acquisition occurs when one not-for-profit
organization obtains:
28. If the total acquisition value of an acquired not-for-profit organization is
greater than the fair value of all identifiable net assets of the organization, and
that organization's revenues are not earned by dues or other types of earned
revenues, then the excess of acquisition value over identifiable net assets is
immediately reported:
29. When an acquisition occurs in not-for-profit accounting, recognition of
goodwill depends on:
30. Which of the following is
not
true
about a merger of two not-for-profit
organizations?
31. Which entry would be the correct entry to record that a hospital has
provided patient services for $200,000, of which 25% will be billed to a third
party?
32. What is the appropriate account to debit when reducing net patient
service revenue as a result of arrangements with third party payors?
33. What is the appropriate account to credit when estimating a portion of
health care organization receivables that will prove to be uncollectible?
34. Give several examples of
voluntary
health and welfare organizations.
35. What are the objectives of accounting for a not-for-profit organization?
36. What term is used by voluntary health and welfare organizations for
contributions?
37. What two classifications are used for the expenses incurred by voluntary
health and welfare organizations?
38. What is the main source of financial support for most voluntary health and
welfare organizations?
39. What criteria must be met before a voluntary health and welfare
organization can recognize donated services as a means of support?
The criteria that must be met for a voluntary health and welfare organization to
recognize donated services as a means of support are:
40. For a voluntary health and welfare organization, what are supporting
services expenses?
41. What financial statements would normally be prepared by a voluntary
health and welfare organization?
A voluntary health and welfare organization would prepare the following financial
statements:
42. What are third party payors? Why are their interests important in
accounting for health care entities?
43. How does a voluntary health and welfare organization account for donated
goods and cash contributed for operating purposes? What types of revenues are
recognized by voluntary health and welfare organizations?
44. For a not-for-profit organization, when is recognition of contributions of
artworks and historical treasures
not
required?
45. How does a recipient not-for-profit organization record the receipt of a gift
that will be transferred without restriction to another charitable organization?
What if the donor retains the right to revoke or redirect the gift?
46. For not-for-profit organizations, what is the difference in identification of
"control" between a merger and an acquisition?
