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 19.10.8P
To determine
Introduction: Health Care organizations are continuously serving to the wellbeing of the individuals & meeting the health needs of the people. Many people are donating to these organizations which is helping these organizations to a great extent.
To select: 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
White 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
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The following selected events relate to the 2019 activities of Fall Nursing Home, Inc., a not-for-profit agency:a. Gross patient service revenue totaled $2,200,000. The provision for uncollectible accounts was estimated at $92,000. The allowance for contractual adjustments was increased by $120,000.b. After a conference with representatives of Gold Star Insurance Company, differences between the amounts accrued and subsequent settlements reduced receivables by $60,000.c. A grateful patient donated securities with a cost of $30,000 and a fair value at date of donation of $75,000. The donation was restricted to expenditure for modernization of equipment. The donation was accepted.d. Cash of $45,000 that had been restricted by a donor for the purchase of furniture was used this year. Fall chose to release the donor restriction over the useful life of the asset.e. The board voluntarily transferred $50,000 of cash to add to the resources held for capital improvements.f. Pledges of $60,000…
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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