Question: Millbridge Hospital receives earned income from several sources Medicare Medicaid
Millbridge Hospital receives earned income from several sources: Medicare, Medicaid, private insurance and self-pay customers. The federal government owes the hospital $ 7 million, 60 percent is current, 30 percent is between 31 and 60 days old, and the remaining 10 percent is between 61 and 90 days old. The state owes the hospital $ 5 million for Medicaid, 40 percent of which is current, 30 percent is between 31 and 60 days old, 20 percent is between 61 and 90 days old, and the remainder is more than 91 days old. Private insurance owes the hospital $ 4 million, half of which is current, 25 percent is between 31 and 60 days old, and the remaining 25 percent is more than 91 days old. Self-pay customers owe $ 1 million, 30 percent is current, 40 percent is 31 to 60 days old, 10 percent is 61 to 90 days old, and the remainder is more than 91 days old. Prepare an accounts-receivable aging schedule by total dollars and by percent.
Relevant QuestionsMillbridge Hospital buys 10,000 boxes of latex gloves every year. Each box costs the hospital $ 7. The cost to place an order for the gloves—which covers the employee staff time, shipping costs, the hospital’s receiving ...Describe the elements of an internal control system.Do managers tend to motivate their staff by using a “carrot” or a “stick” approach?Justice Township tries to keep tight control over the costs of the municipal court system. Since the town is small, its courts only operate a few days a week and they get by largely with part- time workers. Last month it was ...The Stratton Township Park is located on a piece of property that contains two golf courses, a swimming pool, and 800 acres of woods and open spaces. Three years ago, the Stratton Park Department (Stratton) carved out miles ...
Post your question