Advanced Accounting
12th Edition
ISBN: 9781305084858
Author: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Publisher: Cengage Learning
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Question
Chapter 19, Problem 19.11.4P
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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The following items/events relate to hospitals covered. Classify each of the following items as follows:
A. Event is reported on the “Statement of Operations” below the performance indicator.
B. Event is reported on the “Statement of Operations” above the performance indicator.
C. Event affects only the restricted net assets portion of the Statement of Changes in Net Assets
D. Event affects both the Statement of Operations above the performance indicator and the restricted net assets portion of the Statement of Changes in Net Assets.
E. Event affects both the Statement of Operations below the performance indicator and the restricted net assets portion of the Statement of Changes in Net Assets.
F. Event affects only the Statement of Financial Position.
G. Event is reported only in the notes to the financial statements.
Realized gains on non-trading securities held as unrestricted investments.
The following items/events relate to hospitals covered. Classify each of the following items as follows:
A. Event is reported on the “Statement of Operations” below the performance indicator.
B. Event is reported on the “Statement of Operations” above the performance indicator.
C. Event affects only the restricted net assets portion of the Statement of Changes in Net Assets
D. Event affects both the Statement of Operations above the performance indicator and the restricted net assets portion of the Statement of Changes in Net Assets.
E. Event affects both the Statement of Operations below the performance indicator and the restricted net assets portion of the Statement of Changes in Net Assets.
F. Event affects only the Statement of Financial Position.
G. Event is reported only in the notes to the financial statements.
Unrealized losses on unrestricted trading securities.
Answer 16
Gift of land from wealthy benefactor for construction of…
A voluntary health and welfare entity produces a statement of functional expenses. What is the purpose of this statement? Choose the correct.a. Separates current unrestricted and current restricted funds.b. Separates program service expenses from supporting service expenses. c. Separates cash expenses from noncash expenses.d. Separates fixed expenses from variable expenses.
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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Similar questions
- A hospital has three revenue-controlling accounts: Patient Service Revenues, Other Operating Revenues, and Nonoperating Revenues.1. State in general terms the type of revenues found in each controlling account.2. Indicate into which of the three controlling accounts each of the following would be placed by using the symbols PS for Patient Service Revenues, OO for Other Operating Revenues, N for Nonoperating Revenues, and N/A if not a revenue item:a. Tuition for entry to the nursing school.b. An unrestricted gift of cash.c. General nursing fees charged to patients.d. Charges for physicians’ care.e. A restricted gift used for research on genes.f. Dividends from the hospital’s investments.g. Revenues from gift shop sales.h. Patient room and board charges.i. Proceeds from sales of cafeteria meals.j. Recovery room fees.k. Contributions for plant replacement and expansion.arrow_forwardwhich of the following is operational income : other revenues, investment income , patient service revenue charitable contribution, premium revenuesarrow_forwardA hospital should report earnings from endowment funds that are restricted to a specific operating purpose as a. temporarily restricted revenues. b. permanently restricted revenues. c. unrestricted revenues. d. unrestricted revenues when expended.arrow_forward
- 1. Briefly explain The Information Flow. 2. How can social media help a hospital manage the patient experience? 3. Briefly explain the difference between short-term and long-term assets. 4. What are the major differences in Government Sourcesand Managed Care Source? 5. Explain the two types of disbursements for services. 6. What is the difference between direct and indirect costs? Explain.arrow_forwardA voluntary health and welfare entity produces a statement of functional expenses. What is the purpose of this statement? Separates current unrestricted and current restricted funds. Separates program service expenses from supporting service expenses. Separates cash expenses from noncash expenses. Separates fixed expenses from variable expenses.arrow_forwardAssume that the hospital uses the direct method for cost allocation Question: how to solve question a & b ?arrow_forward
- 61. Which of the following types of health care or- ganizations follow FASB statements? TIT Investor-Owned Health Care Private Governmental Нealth Enterprises Yes Not-for-Profit Organizations Organizations Yes No Yes a. b. Yes Yes с. No No Yes d. Yes No Yes 62. Which of the following types of health care or- ganizations recognize depreciation expense? Investor-Owned Health Care Governmental Health Care Not-for-Profit Organizations Yes Enterprises Yes Yes No Organizations No Yes Yes а. No No с. d. Yes Yes Yes 63. In accruing patient charges for the current month, which one of the following accounts should a hospi- tal credit? a. Accounts Payable b. Patient Service Revenues c. Unearned Revenue d. Deferred Revenue 64. According to the AICPA Audit Guide, hospitals should prepare which of the following financial statements? Statement of Changes In Net Assets Yes Statement of Operations No а. b. Yes Yes Yes No No с. d. Noarrow_forwardIf a government hospital gets unrestricted donations that are not a part of a hospital's major ongoing operations, those donations are classified on the statement of revenues, expenses, and changes in net position as: An operating revenue. An operating gain. An other financing source. A nonoperating gain.arrow_forward1. What are the four elements of financial management? 2. Briefly explain The Information Flow. 3. How can social media help a hospital manage the patient experience? 4. Briefly explain the difference between short-term and long-term assets. 5. What are the major differences in Government Sourcesand Managed Care Source? 6. Explain the two types of disbursements for services. 7. What is the difference between direct and indirect costs? Explain.arrow_forward
- Describe the unique aspects of accounting for health care entities.arrow_forwardThe practice of for-profit hospitals transferring charity patients to not-for-profit hospitals is known as? A. Dumping B. Cost plus accounting C. Diagnosis related groups D. Cost shiftingarrow_forwardPlease describe factors that influence the financial viability of a healthcare organization and discuss the major aspects of Medicare benefits? and how do legal and regulatory issues shape and define the good financial management of an HCO?arrow_forward
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