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 19.11.5P
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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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.
Write a detailed report covering the following topics:
1. ACCOUNTING FOR COLLEGES AND UNIVERSITIES
• What Unique Issues do Colleges and Universities Face?
• What are different revenues and expenses?
• Accounting for revenues and expenses- Give examples
• Treatment of grants and donations
2. ACCOUNTING FOR HEALTH CARE PROVIDERS/HOSPITALS
• What Unique Issues do Health Care Providers Face?
• What are the Key Differences Between Private Not-For-Profit and
Government Health Care Providers?
• What Are the Basic Financial Statements?
• What are the Key Revenues and Expenses?
• How are the key revenues and expenses recognized?
1. 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.
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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- 2. ACCOUNTING FOR HEALTH CARE PROVIDERS/HOSPITALS • What Unique Issues do Health Care Providers Face? • What are the Key Differences Between Private Not-For-Profit and Government Health Care Providers? • What Are the Basic Financial Statements? • What are the Key Revenues and Expenses? • How are the key revenues and expenses recognized?arrow_forwardA 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.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_forward
- If 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_forwardWhich of the following are most likely to be internal service fund activities? (multiple answers allowed, incorrect answers will reduce correct answers) Da workers compensation fund b. IT department at Mcneese O Gravity drainage district Od. Fleet and equipment services fund e. University bookstore f. Mallard golf coursearrow_forwardTheodore County uses a General Fund, a Special Revenue Fund, and an Enterprise Fund. The Special Revenue Fund is financed by a grant from the state to provide care for the elderly. The Enterprise Fund provides bus service both to the public and to government agencies. Prepare entries to record these transactions. Identify the funds involved in each case. a. The Enterprise Fund bills the Special Revenue Fund $15,000 for bus service provided to the elderly. b. The General Fund receives an electricity bill for $20,000 and prepares a voucher to pay the bill. The General Fund then bills the Special Revenue Fund for $3,000, representing the portion of the electricity bill applicable to the senior citizens building. C. The Enterprise Fund is short of cash to pay its bills. The General Fund lends the Enterprise Fund $50,000 in cash, which will be repaid before the end of the year. d. The General Fund pays cash of $100,000 to the Enterprise Fund as a subsidy to help meet the operating costs of…arrow_forward
- A 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_forward66. A private not-for-profit hospital provided $150,000 in charity care for the current year. The hospital should report this charity care as a. Net patient service revenue of $150,000 and pa- tient care expense of $150,000. b. Net patient service revenue of $150,000 on the statement of operations. c. Only in the notes to the financial statements. d. As an unpaid accounts receivable on the balance sheet. 67. The Johnson Hospital, a private not-for-profit hospital, received the following revenues in the cur- rent year: Proceeds from sales of the Hospital's flower shop Dividends and interest revenue not restricted $60,000 $20,000 Cash contributions for the renovation of the children's ward in the Hospital $200,000 Which of these amounts should be reported as other revenues and gains (other revenue) on the Statement of Operations? a. $280,000 b. $60,000 c. $80,000 d. $260,000 68. The Whitlow Hospital, a private not-for-profit hospital, uses as its performance indicator revenues and gains…arrow_forwardWhat type of fund would typically be used to account for a municipal bus operation where users are charged a fee to ride the bus, and the fees collected are used to pay for the daily operation? Group of answer choices a.) Enterprise fund b.) Agency fund c.) General fundarrow_forward
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