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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66. A private not-for-profit hospital provided
$150,000 in charity care for the current year. The
hospital should report this charity care as
a. Net patient service revenue of $150,000 and pa-
tient care expense of $150,000.
b. Net patient service revenue of $150,000 on the
statement of operations.
c. Only in the notes to the financial statements.
d. As an unpaid accounts receivable on the balance
sheet.
67. The Johnson Hospital, a private not-for-profit
hospital, received the following revenues in the cur-
rent year:
Proceeds from sales of the Hospital's
flower shop
Dividends and interest revenue
not restricted
$60,000
$20,000
Cash contributions for the renovation of
the children's ward in the Hospital
$200,000
Which of these amounts should be reported as other
revenues and gains (other revenue) on the Statement
of Operations?
a. $280,000
b. $60,000
c. $80,000
d. $260,000
68. The Whitlow Hospital, a private not-for-profit
hospital, uses as its performance indicator revenues
and gains…
Topic: Accounting For Non-Profit Organization
Record in general journal form the following selected transactions for Meridian Hospital, a nongovernmental not for-profit institution. (or
no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
1. Gross charges accrued for patient services rendered during the period amounted to $7,870,000, of which $350,000 represented
charity care for indigent patients
2. During the year the implicit price concessions for individual payors was determined to be $190,000 and contractual adjustments
amounted to S435,000.
3. A wealthy donor donated $2.000,000 in cash to construct a new cardiology wing on the hospital.
4. During the yeat, the new cardiolody wing (see item 3) was one-half completed at a cost of $1.000.000.
View transaction list
Journal entry worksheet
Record the $190,000 implicit price concessions for individual payers and
$435,000 contractual adjustments.
Note Enter debits befare credits
Transaction
General Journal
Debit
Credi
02…
Chapter 4 Solutions
Healthcare Finance: An Introduction to Accounting and Financial Management
Ch. 4 - Prob. 1.1STQCh. 4 - Prob. 1.2STQCh. 4 - Prob. 1.3STQCh. 4 - Prob. 1.4STQCh. 4 - Prob. 2.1STQCh. 4 - Prob. 2.2STQCh. 4 - Prob. 2.3STQCh. 4 - Prob. 2.4STQCh. 4 - Prob. 2.5STQCh. 4 - Prob. 3.1STQ
Ch. 4 - Prob. 3.2STQCh. 4 - Prob. 3.3STQCh. 4 - Prob. 3.4STQCh. 4 - Prob. 3.5STQCh. 4 - Prob. 4.1STQCh. 4 - Prob. 4.2STQCh. 4 - Prob. 4.3STQCh. 4 - Prob. 4.4STQCh. 4 - Prob. 5.1STQCh. 4 - Prob. 5.2STQCh. 4 - Prob. 5.3STQCh. 4 - Prob. 5.4STQCh. 4 - Prob. 6.1STQCh. 4 - Prob. 6.2STQCh. 4 - Prob. 6.3STQCh. 4 - Prob. 7.1STQCh. 4 - Prob. 7.2STQCh. 4 - Prob. 7.3STQCh. 4 - Prob. 4.1QCh. 4 - Prob. 4.2QCh. 4 - Prob. 4.3QCh. 4 - Prob. 4.4QCh. 4 - Prob. 4.5QCh. 4 - Prob. 4.6QCh. 4 - Prob. 4.7QCh. 4 - Prob. 4.8QCh. 4 - Prob. 4.9QCh. 4 - Prob. 4.1PCh. 4 - Prob. 4.2PCh. 4 - Prob. 4.3PCh. 4 - Prob. 4.4PCh. 4 - Prob. 4.5PCh. 4 - Prob. 4.6PCh. 4 - Prob. 4.7PCh. 4 - Prob. 4.8PCh. 4 - Prob. 4.9P
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