66. A private not-for-profit hospital provided$150,000 in charity care for the current year. Thehospital should report this charity care asa. Net patient service revenue of $150,000 and pa-tient care expense of $150,000.b. Net patient service revenue of $150,000 on thestatement of operations.c. Only in the notes to the financial statements.d. As an unpaid accounts receivable on the balancesheet.67. The Johnson Hospital, a private not-for-profithospital, received the following revenues in the cur-rent year:Proceeds from sales of the Hospital'sflower shopDividends and interest revenuenot restricted$60,000$20,000Cash contributions for the renovation ofthe children's ward in the Hospital$200,000Which of these amounts should be reported as otherrevenues and gains (other revenue) on the Statementof Operations?a. $280,000b. $60,000c. $80,000d. $260,00068. The Whitlow Hospital, a private not-for-profithospital, uses as its performance indicator revenuesand gains over expenses and losses. Which of thefollowing items would be included in the calculationof this indicator?Unrealized gains on other than trading secu-rities. The securities are included in the un-restricted net assets.Contributions received from a donor in thecurrent year that cannot be spent until thefollowing year.a. Neitherb. Bothc. Unrealized gains onlyd. Contribution only

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Answered: 66. A private not-for-profit hospital…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A nongovernmental not-for-profit animal shelter receives contributed services from the following individuals valued at their normal billing rate: Board members volunteer to prepare books for audit 4,500 Registered nurse volunteers as receptionist 3,000 Teacher provides volunteer dog walking 2,000 What amount should the shelter record as contribution revenue? A.) $7,500 B.) $4,500 C.) $6,500 D.) $9,500
Describe the accounting treatment
(CO B) What percent of revenue do for-profit hospitals deliver in uncompensated care? O3%-4% O 10% 15%-20% None
Question: Describe the accounting treatment by hospitals and health care organizations for each of the following: (A) Charity Care (B) Bad Debts (C) Contractual Adjustments
Projected revenue for year 20X1 is as follows: $823,155 in January, $685,546 in February, $454,050 in March, and $811,904 in April. Historical net revenues categorized by payer: Payer Revenue Percent Medicare 8,931,228 Medicaid 11,906,868 Blue Cross 10,159,306 Private 5,082,192 Total ? Collection patterns by payer: Payer Within 1 Month Within 2 Months Within 3 Months Within 4 Months Total Medicare 18% 26% 28% ? 100% Medicaid 6% 20% 49% ? 100% Blue Cross 11% 43% 26% ? 100% Private 59% 28% 6% ? 100% How much revenue do we expect to collect in total in March? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Omit the "$" sign and commas in your response. For example, $12.3456 should be entered as 12.35.)
Multiple statements. The following are account balances (in thousands) for Lima Health Plan. Prepare (a) a balance sheet and (b) an income statement for the year ended December 31, 20 X0. Givens (in '000s) Income tax benefit of operating loss $ 12,000 Net property and equipment Physician services expense $244,000 Premium revenue $225,000 Marketing expense $21,000 Compensation expense, $15,000 Interest income and other revenue, $9,000 Outside referral expense, $7,000 Medicare revenue, $160,000 Occupancy and depreciation expense $1,000 Medical claims payable, $57,000 Accounts receivable, $1,500 Emergency room expense, $24,000 Inpatient services expense $191, 000 Interest expense $1,000 Medicaid revenue $55,000 Stockholders' equity $71, 700 Cash and cash equivalents $127,000 Long-term debt $2,800 Other administrative expense $1,400
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
The factors affecting pension expense are not always obvious.As the accountant for Sunlight City, you determine the following with respect to the city's pensions in a particular year.Service cost $356,000Interest on total pension liability 400,000Actual earnings on pension plan investments 500,000Projected earnings on pension plan investments 450,000Employer contribution to the plan 180,000Benefits paid to retirees 211,000 Based on the information provided, what should the city report as its pension expense for the year? Suppose that the benefits paid to retirees were actually $251,000 rather than $211,000. How would that affect the pension expense? Explain. Suppose also that the city failed to contribute anything to the pension plan. How would that affect the pension expense to be reported on the government‐wide statements? Explain. How would it affect the pension expenditure to be reported on the statements of the general fund?
An international children’s charity collects donations, which are used to buy clothing and toysfor children in need. The charity records donations of cash and other items as Donations Revenuewhen received. Prepare journal entries for the following transactions, which occurred during arecent month, and determine the charity’s preliminary net income.a. Received $4,000 in cash and checks from a door-to-door campaign.b. Paid $2,000 cash for employee wages this month.c. Paid $1,000 cash on a short-term loan from the bank (ignore interest).d. Bought $3,000 worth of new toy supplies from a large toy manufacturer, paying $1,000 cashand signing a short-term note for $2,000.e. The manufacturer generously donated an additional $2,500 of toy supplie
P. 12-6 The distinction between contributed services that warrant financial statement recognition and those that do not is not always clear. For each of the following situations, indicate whether the organization should recognize the described contributed services as revenue (offset by a corresponding expense). Briefly justify your response or identify key issues. Nellie Wilson, the noted country-and-western singer, performs a benefit concert for the Save Our Farms Association, a political advocacy group. Wilson, who would normally charge $60,000 per concert, did not accept a fee. Camp Chi-Wan-Da, a summer camp for disadvantaged youth, benefits from the services of four physicians, each of whom spends two weeks at the camp providing medical services to the campers. The doctors receive free room and board but no salary. Camp association standards require that a camp of Chi-Wan-Da’s size either have a physician on premises or have a physician on call. The Taconic Music Festival, a…
None
Identify the following if it is an example of COMMERCIAL BANK, THRIFT BANK, GOVERNMENT BANK, PRIVATE NON-BANK OR GOVERNMENT NON-BANK. 2. Subsidy granted to the hog raisers in Bgy. Silang Cavite by LGU. 3. Claims amounted to P50,000.00 received by Mrs. Perez after giving birth by the social security.

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