Question
1. Describe the accounting treatment by hospitals and health care organizations for each of the following: (A) Charity Care (B) Bad Debts (C) Contractual Adjustments
1. Describe the accounting treatment by hospitals and health care organizations for each of the following:
(A) Charity Care
(B) Bad Debts
(C) Contractual Adjustments
2. Describe the accounting treatment by hospitals and health care organizations for property, plant, and equipment acquisitions using each of the following:
(A) Unrestricted resources
(B) Temporarily restricted resources
3. For each of the following items, indicate where it would appear in the Statement of Operations for a private not-for-profit hospital:
(A) The premium from a capitation agreement, whereby a hospital agrees to provide services under a prearranged fixed amount.
(B) Contractual adjustments for Medicare and Medicaid
(C) Customary charges for charity care
(D) Depreciation expense
(E) Interest Expense
5. With Regard to accounting for private not-for-profit health care entities do the following:
(A) Outline the accounting required under FASB guidance for a(n)
(1) Endowment gift received in cash
(2) Pledge received in one year, unrestricted as to purpose but restricted for use in the following year
(3) Pledge received in one year restricted as to purpose other than acquisition of fixed assets which is fulfilled in the following year.
(B) List those items required to be reported
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started