EBK HEALTHCARE FINANCE:  AN INTRODUCTIO
EBK HEALTHCARE FINANCE: AN INTRODUCTIO
6th Edition
ISBN: 9781567938111
Author: Gapenski
Publisher: VST
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Chapter 4, Problem 4.7P

(a)

To determine

Introduction: Balance sheet is a statement of financial position of an enterprise which presents the assets, liabilities, and owner's equity at a given point of time. In other words, the balance sheet explains the net worth of one’s business.

The impact of transaction 2 on B’s balance sheet

(b)

To determine

Introduction: Balance sheet is a statement of financial position of an enterprise which presents the assets, liabilities, and owner's equity at a given point of time. In other words, the balance sheet explains the net worth of one’s business.

The impact of transaction 3 on B’s balance sheet

(c)

To determine

Introduction: Balance sheet is a statement of financial position of an enterprise which presents the assets, liabilities, and owner's equity at a given point of time. In other words, the balance sheet explains the net worth of one’s business.

The impact of transaction 4 on B’s balance sheet

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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.
provide correct answer and provide correct option with calculation I want it so please provide
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