A private not-for-profit health care entity has the following account balances:Revenue from newsstand . . . $ 50,000Amounts charged to patients . 800,000Interest income . . . . . . . . . . . .. .30,000Salary expense—nurses . . . . 100,000Provision for bad debts . . . . . 10,000Undesignated gifts . . . . . . . . . 80,000Contractual adjustments . . . . 110,000What is reported as the organization’s net patient service revenue? Choose the correct.a. $880,000b. $800,000c. $690,000d. $680,000
A private not-for-profit health care entity has the following account balances:Revenue from newsstand . . . $ 50,000Amounts charged to patients . 800,000Interest income . . . . . . . . . . . .. .30,000Salary expense—nurses . . . . 100,000Provision for bad debts . . . . . 10,000Undesignated gifts . . . . . . . . . 80,000Contractual adjustments . . . . 110,000What is reported as the organization’s net patient service revenue? Choose the correct.a. $880,000b. $800,000c. $690,000d. $680,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A private not-for-profit health care entity has the following account balances:
Revenue from newsstand . . . $ 50,000
Amounts charged to patients . 800,000
Interest income . . . . . . . . . . . .. .30,000
Salary expense—nurses . . . . 100,000
Provision for
Undesignated gifts . . . . . . . . . 80,000
Contractual adjustments . . . . 110,000
What is reported as the organization’s net patient service revenue? Choose the correct.
a. $880,000
b. $800,000
c. $690,000
d. $680,000
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