This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A not-for-profit hospital had gross patient billings of 43 million, contractual adjustments of 8 ... (Read 101 times)

Medesa

  • Hero Member
  • *****
  • Posts: 507
on: Jul 5, 2018
A not-for-profit hospital had gross patient billings of 43 million, contractual adjustments of 8 million, and charity care of 1,500,000 . The hospital also made a provision for bad debts in the amount of 1,000,000 .
 
  How much should the hospital report as net patient service revenue?
   a. 43 million
   b. 35 million
   c. 33.5 million
   d. 32.5 million

Question 2

Alberta's Appliances is a wholesaler that sells to retail stores on credit. To provide for possible bad debts, Alberta established a 32,000 allowance for uncollectible accounts.
 
  One of its customers goes bankrupt and Alberta decided to write off the account as uncollectible. What journal entry should Alberta make to record the bankruptcy?
   a. debit bad debts expense; and credit accounts receivable
   b. debit bad debts expense; and credit allowance for uncollectible accounts
   c. debit sales revenues; and allowance for uncollectible accounts
   d. debit allowance for uncollectible accounts; and credit accounts receivable


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nekcihc358

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

d


Medesa

  • Member
  • Posts: 507
Reply 2 on: Jul 5, 2018
Wow, this really help

meow1234

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Taking a Patient’s Axillary Temperature Taking a Patient’s Axillary Temperature
Physical therapist assisting a patient to walk in the parallel bars. Physical therapist assisting a patient to walk in the parallel bars.
Patient conditions not appropriate for elctronic blood pressure measurement Patient conditions not appropriate for elctronic blood pressure measurement
A mound of buffalo skulls. In 1870 an estimated 30 million buffalo roamed the plains; by 1900 there A mound of buffalo skulls. In 1870 an estimated 30 million buffalo roamed the plains; by 1900 there
Oral pseudo membraneous candidiasis in a patient with AIDS. Oral pseudo membraneous candidiasis in a patient with AIDS.
Inadequate Airway, Breathing and Circulation in the Trauma Patient (Part 1) Inadequate Airway, Breathing and Circulation in the Trauma Patient (Part 1)
Video: The Pressure Flow Model in a Plant

For a complete list of videos, visit our video library