When a governmental hospital purchases capital assets from resources restricted by donors for that purpose,the net assets account Net Assets-Invested in Capital Assets,Net of Related Debt is increased.

Question

Quizplus · Accepted Answer

Public hospitals follow GASB standards which require capital assets to be capitalized and reported in the statement of net assets as Net Assets-Invested in Capital Assets, Net of Related Debt.

When a Governmental Hospital Purchases Capital Assets from Resources Restricted