Joel Hamilton, D.D.S., keeps his accounting records on the cash basis. During 20X1, he collected $200,000 in
Question:
Joel Hamilton, D.D.S., keeps his accounting records on the cash basis. During 20X1, he collected $200,000 in fees from his patients. At December 31, 20X0, Dr. Hamilton had accounts receivable of $18,000 and no liability for deferred fee revenue. At December 31, 20X1, he had accounts receivable of $25,000 and a liability for deferred fee revenue of $8,000.
Required:
On an accrual basis, what was Dr. Hamilton’s patient fee revenue for 20X1?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Question Posted: