This problem Question is belowGrady Home Health has $1,050,000 in Net Patient AccountsReceivable; $350,000 in Other Operating Revenue: TotalOperating Expenses of $3,250,000; and $4,500,000 in Net PatientRevenue.Determine the Days in Patient Accounts Receivable (Net AR Days)for this organization.

Explanation of Net Patient Accounts ReceivableNet Patient Accounts Receivable represents the amount…

Answered: Question is below Grady Home Health has…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 4MAD

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provide correct answer and provide correct option with calculation I want it so please provide
36. Accounts receivable management. Given the information below, compute the days in accounts receivable, aging schedule, and accounts receivable as a percentage of net patient revenues for quarter 1 and quarter 2 of fiscal year 20X2, which runs from October 20X1 through September 20X2. Compare the two quarters to determine if the organiza- tion's collection procedure is improving. (Hint: For simplicity, assume that each month is thirty days. Dollar figures are expressed in thousands.) Quarter 1, 20X1 Dec Nov Oct Quarter Days outstanding 1-30 31-60 61-90 1-90 Net accounts receivable $1,000 $4,600 $14,000 $19,600 Net patient revenues $4,000 $20,000 $36,000 $60,000 Quarter 2, 20X2 Mar Feb Jan Quarter Days outstanding 1-30 31-60 61-90 1-90 Net accounts receivable $14,000 $4,600 $1,000 $19,600 Net patient revenues $36,000 $20,000 $4,000 $60,000
Assume selected financial data for Sun Health Group and Select Medical Corporation, two companies in the health-care industry, are as follows: ($ in millions) NetSales Beginning Accounts Receivable Ending Accounts Receivable Sun Health $ 2,430 $ 240 $ 227 Select Medical 2,740 439 378 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Sun Health and Select Medical. (Round Average accounts receivable to 1 decimal place. Enter your answers in millions.) Receivables Turnover Ratio / = Receivables Turnover Ratio Sun Health / = times Select Medical / = times Average Collection Period / = Average Collection Period Sun Health / = days Select Medical / = days
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Assume selected financial data for Sun Health Group and Select Medical Corporation, two companies in the health-care industry, are as follows: ($ in millions) Net Sales Beginning Accounts Receivable Ending Accounts Receivable Sun Health $2,730 $255 $242 Select Medical 3,040 454 393 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Sun Health and Select Medical.1-b. Which company maintains a higher receivables turnover?
What will be the steady - state receivables balance on these general accounting question?
The basis for recognizing patient care revenue is not always obvious. In a particular month Northwest Medical Clinic reported the following: 1. It provided direct care services to patients, billing them $400,000. Of this amount it received $120,000 in cash, but as a consequence of bad debts it expects to collect a total of only $330,000. 2. It provided direct care to patients covered by insurance and who are members of various group health plans for which, at standard rates, it would have billed $650,000. However, owing to contractual arrangements with the payers, it actually billed them for, and expects to collect, only $480,000. 3. It provided charity care for which it would have billed, at standard rates, $82,000. 4. It received capitation fees of $1,400,000 from health care plans and provided services to members of those plans for which it would have billed, at standard rates, $1,600,000. Prepare appropriate journal entries to recognize revenue.
Home Infusion provides an average of 10 home health visits a day at an average net charge of $119 per visit, for $979 in average daily billings (ADB). They provide services approximately 221 days per year. All services are paid by two third-party payers: One pays for half of the billing 24 days after the service is provided and the second pays for the other half of billings in 9 days. Average cost of debt (i.e. the interest rate on bank loans) is 15%. What is the average accounts receivable balance? (Do not round intermediate calculations and round your final answer to 2 decimal places. Omit the "$" sign and commas in your response. For example, $12.3456 should be entered as 12.35.)
At Inner City Health Care, the total account receivable at the end of May is $100,00 and the monthly receipts total is 75.000, the total accounts receivable ath the end of june is 82.000 and the monthly receipts total is $31.000, the totat accounts receivable at the end of july is $86,000 and the monthly receipts total $20,000; the total accounts receivable at the end of August is $93,000 an the monthly receipts total is $45,000. What is the account receivable ratio for each month? Show your calculations in the space provided. Which month has the healthiest accounts receivable ratio? Why?
Am. 401.
A hospital provided $750,000 of billable services to noncapitated patients. Payment has not yet been received. When the transaction is recorded on the general ledger, cash (an asset) is increased by $750,000 and patient revenue is decreased by $750,000. True False
Home Infusion provides an average of 14 home health visits a day at an average net charge of $94 per visit. They provide services approximately 250 days per year. All services are paid by two third-party payers: One pays for 29 percent of the billing 19 days after the service is provided and the second pays for the remaining billings in 29 days. Average cost of debt (i.e. the interest rate on bank loans) is 3%. What is the average accounts receivable balance? (Round your final answer to 2 decimal places. Omit the "$" sign and commas in your response. For example, $123,456.789 should be entered as 123456.79.) Give typing answer with explanation and conclusion

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Question is below Grady Home Health has $1,050,000 in Net Patient Accounts Receivable; $350,000 in Other Operating Revenue: Total Operating Expenses of $3,250,000; and $4,500,000 in Net Patient Revenue. Determine the Days in Patient Accounts Receivable (Net AR Days) for this organization.