Advanced Accounting
12th Edition
ISBN: 9781305084858
Author: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Publisher: Cengage Learning
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Chapter 19, Problem 19.10.4P
To determine
Introduction: Health Care organizations are continuously serving to the well-being of the individuals & meeting the health needs of the people.
To select: The best option.
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Under Cura Hospital’s established rate structure, patient service revenues of $9,000,000 would have been earned for the year ended December 31, 2019. However, only $6,750,000 was collected because of charity allowances of $1,500,000 and discounts of $750,000 to third-party payors. For the year ended December 31, 2019, what amount should Cura record as net patient service revenues? a. $6,750,000 b. $7,500,000 c. $8,250,000 d. $9,000,000
During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution:
Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,665,000. Estimated contractual adjustments with third-party payors amounted to $415,000, and the hospital estimated implicit price concessions would total 33,800.
Charity services, not included in transaction 1, would amount to $92,000 had billings been made at gross amounts.
Other revenues received in cash were parking lot, $33,000; cafeteria, $35,200; gift shop, $5,900.
Cash gifts restricted by the donor for programs amounted to $37,050 for the year. During the year, $73,400 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits).
Mortgage bond payments amounted to $70,800 for principal and $43,600 for interest. Assume unrestricted resources are used.
During the year,…
During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution:
Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000.
Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts.
Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000.
Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits).
Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used.
During the year, the…
Chapter 19 Solutions
Advanced Accounting
Ch. 19 - Prob. 1UTICh. 19 - Prob. 2UTICh. 19 - Prob. 3UTICh. 19 - Distinguish assets lmited as to use from...Ch. 19 - Prob. 5UTICh. 19 - Prob. 6UTICh. 19 - Prob. 1ECh. 19 - Record the following operating activities: 1....Ch. 19 - Record the following events that affect the loan...Ch. 19 - Prob. 5E
Ch. 19 - Prob. 6ECh. 19 - Prob. 7ECh. 19 - Prob. 8ECh. 19 - Prob. 9ECh. 19 - Prob. 19.1.1PCh. 19 - Prob. 19.1.3PCh. 19 - Prob. 19.1.4PCh. 19 - Prob. 19.1.5PCh. 19 - Prob. 19.1.6PCh. 19 - Prob. 19.1.7PCh. 19 - Prob. 19.1.8PCh. 19 - Prob. 19.1.9PCh. 19 - Prob. 19.1.10PCh. 19 - Prob. 19.2.1PCh. 19 - Prob. 19.2.2PCh. 19 - Prob. 19.2.3PCh. 19 - Prob. 19.2.4PCh. 19 - Prob. 19.2.5PCh. 19 - Prob. 19.2.6PCh. 19 - Prob. 19.2.7PCh. 19 - Prob. 19.2.9PCh. 19 - Prob. 19.2.10PCh. 19 - Prob. 19.4.1PCh. 19 - Prob. 19.4.2PCh. 19 - Prob. 19.5PCh. 19 - Prob. 19.6.1PCh. 19 - Prob. 19.6.2PCh. 19 - Prob. 19.7.1PCh. 19 - Prob. 19.7.2PCh. 19 - Prob. 19.8.1PCh. 19 - Prob. 19.8.2PCh. 19 - Prob. 19.10.1PCh. 19 - Prob. 19.10.2PCh. 19 - Prob. 19.10.3PCh. 19 - Prob. 19.10.4PCh. 19 - Prob. 19.10.5PCh. 19 - Prob. 19.10.6PCh. 19 - Prob. 19.10.7PCh. 19 - Prob. 19.10.8PCh. 19 - Prob. 19.10.9PCh. 19 - Prob. 19.10.10PCh. 19 - Prob. 19.11.1PCh. 19 - Prob. 19.11.2PCh. 19 - Prob. 19.11.3PCh. 19 - Prob. 19.11.4PCh. 19 - Prob. 19.11.5PCh. 19 - Prob. 19.11.6PCh. 19 - Prob. 19.11.7PCh. 19 - Prob. 19.11.8PCh. 19 - Prob. 19.11.9PCh. 19 - Prob. 19.11.10PCh. 19 - The following nominal accounts were extracted from...Ch. 19 - Prob. 19.15P
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- During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution: Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000. Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts. Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000. Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits). Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used. During the year, the…arrow_forwardDuring 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution: Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000. Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts. Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000. Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits). Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used. During the year, the…arrow_forwardWhite Valley Presbyterian Hospital is a nonprofit initial care facility. For the hospital’s calendar year ending December 31, 2019 journal entries to record the transactions listed in 1 through 14. below Third-parties payers and direct-pay patients were billed $6,500,000 at the hospital's established billing rates The hospital determined that certain of its patients qualified for charity care and that it would not seek to collect $950,000 at established billing rates from direct-pay patients The hospital estimated contractual adjustments for the year of $1,600,000 The hospital originally estimated uncollectible amounts from direct-pay patients to be $250,000 (recall that original estimated uncollectible amounts reduce revenue; only estimates specific to an individual patient are reported as bad debt expense). The hospital received capitation premiums of $2,500,000. It estimated that the cost of providing this care was $1,800,000 The hospital received payments from third-party payers…arrow_forward
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