A private not-for-profit health care entity has the following account balances: Revenue from newsstand . . .

Question:

A private not-for-profit health care entity has the following account balances:

Revenue from newsstand . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         $ 50,000
Amounts charged to patients . . . . . . . . . . . . . . . . . . . . . . . . . .          800,000
Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           30,000
Salary expense—nurses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          100,000
Provision for bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            10,000
Undesignated gifts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            80,000
Contractual adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           110,000

What is reported as the organization’s net patient service revenue?
a. $880,000
b. $800,000
c. $690,000
d. $680,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

Question Posted: