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2nd and 3rd options are wrong

A private not-for-profit health care entity provides its patients with services that would normally be charged at $1 million. However, it estimates a $200,000 reduction because of contractual adjustments. It expects another $100,000 reduction because of bad debts. Finally, the organization does not expect to collect $400,000 because this amount is deemed to be charity care. Which of the following is correct? Choose the correct.a. Patient service revenues = $1 million; net patient service revenues = $300,000.b. Patient service revenues = $1 million; net patient service revenues = $400,000.                                                    c. Patient service revenues = $600,000; net patient service revenues = $300,000.d. Patient service revenues = $600,000, net patient service evenuess = $400,000.

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A hospital reported the following uncollectible amounts: $15,000 for services rendered to homeless individuals with no intention of collection. $35,000 for services rendered with the expectation that the amount collected would likely be $10,000 less than the standard rate billed. What amount should be reported in revenues and provision for bad debt for these items? Multiple Choice Net Patient Service Revenue: $25,000; Provision for Bad Debt: $25,000. Net Patient Service Revenue: $35,000; Provision for Bad Debt: $10,000. Net Patient Service Revenue: $50,000; Provision for Bad Debt: $25,000. Net Patient Service Revenue: $25,000; Provision for Bad Debt: $0.

An individual accident and health insurance policy must include O A. An automatic reinstatement provision OB. A 10-day right of rescission provision Oc. Only the optional uniform provisions O D. A 60-day grace period

Record in general journal form the following selected transactions for Meridian Hospital, a nongovernmental not for-profit institution. (or no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. Gross charges accrued for patient services rendered during the period amounted to $7,870,000, of which $350,000 represented charity care for indigent patients 2. During the year the implicit price concessions for individual payors was determined to be $190,000 and contractual adjustments amounted to S435,000. 3. A wealthy donor donated $2.000,000 in cash to construct a new cardiology wing on the hospital. 4. During the yeat, the new cardiolody wing (see item 3) was one-half completed at a cost of $1.000.000. View transaction list Journal entry worksheet Record the $190,000 implicit price concessions for individual payers and $435,000 contractual adjustments. Note Enter debits befare credits Transaction General Journal Debit Credi 02…

1. A not-for-profit hospital performs services in the current year at a charge of $1 million.  Of this amount, $200,000 is viewed as charity care services because no collection was expected at the time of the work.  Additionally, officials expect another $94,000 to be bad debts.  What should the hospital report as net patient service revenues? Select one: a.$906,000 b.$1,000,000 c.$706,000 d.$800,000   2. In the accounting for health care providers, what are third-party payors? Select one: a.Friends and relatives who pay the medical costs of a patient. b.Doctors who reduce fees for indigent patients. c.Insurance companies and other groups that pay a significant portion of the medical fees in the United States. d.Charities that supply medicines to hospitals and other health care providers.   3.What is a contractual adjustment? Select one: a.A year-end journal entry to recognize all of a health care entity's remaining receivables. b.An increase in a patient's…

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