Healthcare Finance: An Introduction to Accounting and Financial Management
Healthcare Finance: An Introduction to Accounting and Financial Management
6th Edition
ISBN: 9781567937411
Author: Louis C. Gapenski, Kristin L. Reiter
Publisher: Health Administration Press
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Chapter 3, Problem 3.9P

(a)

To determine

Introduction: Income statement is a statement which presents the revenues and expenses of the company in a structured way to reflect the net income/loss earned the company.While preparing income statement, contractual discounts & allowances are deducted from revenue because it is not received from the customers.

To construct: The revenue section of IP&A Co. income statement for the year ended December 31, 2015.

(b)

To determine

To find: The effect of misstatement of contractual discounts and allowances on Net patient service revenue Total expenses including income tax expense and Net income.

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