The NYU hospital has an arrangement with Queens College to provide hospital care to the QC’s members at a specific rate per member, per month. In April the QC paid the hospital $500,000 per agreement for patients treated in March. Based on pre-established billing rates, the hospital would have billed the QC $600,000. How much revenue should NYU recognized? $0 $500,000 $600, which is correct
The NYU hospital has an arrangement with Queens College to provide hospital care to the QC’s members at a specific rate per member, per month. In April the QC paid the hospital $500,000 per agreement for patients treated in March. Based on pre-established billing rates, the hospital would have billed the QC $600,000. How much revenue should NYU recognized? $0 $500,000 $600, which is correct
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 4RE
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The NYU hospital has an arrangement with Queens College to provide hospital care to the QC’s members at a specific rate per member, per month. In April the QC paid the hospital $500,000 per agreement for patients treated in March.
Based on pre-established billing rates, the hospital would have billed the QC $600,000. How much revenue should NYU recognized?
|
$0 |
||
|
$500,000 |
||
|
$600, |
which is correct
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