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
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