The standard charges for all services provided by a government ...

[mspears3]

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 of 400,000 . Uncollectible amounts related to these services are estimated at 150,000 . The hospital must report net patient services revenues and expenses, respectively, of
  A. 4,900,000 and 550,000
  B. 4,500,000 and 150,000
  C. 4,750,000 and 400,000
  D. 4,350,000 and 0

Question 2

The income statement is prepared from
 a. the adjusted trial balance
  b. the Income Statement columns of the end-of-period spreadsheet
  c. either the Adjusted Trial Balance or the Income Statement columns of the end-of-period spreadsheet
  d. both the Adjusted Trial Balance and the Income Statement columns of the end-of-period spreadsheet

[choc0chan]

Answer to Question 1

D

Answer to Question 2

c