Going back to the Income Statement now, note the amount of Operating revenue for the most recent period. Assume that services during the year included Mr. Chan, a patient with little income or assets and one whom the hospital classifies as a charity patient, stayed in the hospital 4 days and received services with gross charges amounting to $18,000. Where, if at all, and at what amounts will Mr. Chan’s gross revenue and net revenue appear on the Income Statement?
Going back to the Income Statement now, note the amount of Operating revenue for the most recent period. Assume that services during the year included Mr. Chan, a patient with little income or assets and one whom the hospital classifies as a charity patient, stayed in the hospital 4 days and received services with gross charges amounting to $18,000. Where, if at all, and at what amounts will Mr. Chan’s gross revenue and net revenue appear on the Income Statement?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Going back to the Income Statement now, note the amount of Operating revenue for the most recent period. Assume that services during the year included Mr. Chan, a patient with little income or assets and one whom the hospital classifies as a charity patient, stayed in the hospital 4 days and received services with gross charges amounting to $18,000.
Where, if at all, and at what amounts will Mr. Chan’s gross revenue and net revenue appear on the Income Statement?
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