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Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng
Edition 11ISBN: 978-0538480284Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng
Edition 11ISBN: 978-0538480284 Exercise 33
Health care, revenues, expenses, contributions. Record the following events of Elmwood Hospital:
1. Patients were billed for the following gross charges:
Room and board............ $680,000
Physicians' care............. 220,000
Laboratory and radiology..... 110,000
2. A donation of drugs with a fair value of $12,000 was received from a doctor. The drugs are normally purchased.
3. Revenues were reported from:
Newsstand and snack bar..... $15,800
Parking lot charges.......... 3,200
Vending machines........... 9,800
4. A charity allowance of $13,000 was granted to indigent patients.
5. Contractual adjustments granted to patients forMedicare charges totaled $68,000.
6. The hospital recorded an increase in the provision of $26,000 for uncollectible receivables.
1. Patients were billed for the following gross charges:
Room and board............ $680,000
Physicians' care............. 220,000
Laboratory and radiology..... 110,000
2. A donation of drugs with a fair value of $12,000 was received from a doctor. The drugs are normally purchased.
3. Revenues were reported from:
Newsstand and snack bar..... $15,800
Parking lot charges.......... 3,200
Vending machines........... 9,800
4. A charity allowance of $13,000 was granted to indigent patients.
5. Contractual adjustments granted to patients forMedicare charges totaled $68,000.
6. The hospital recorded an increase in the provision of $26,000 for uncollectible receivables.
Explanation
Verified
Verified
2.
• Inventory increases the value of ...
Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng
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