Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

A not-for-profit hospital uses three revenue-controlling accounts: Patient Service Revenue, Other Operating Revenue, and Nonoperating Revenue. Indicate which of the three revenue accounts would be

A not-for-profit hospital uses three revenue-controlling accounts: Patient Service Revenue, Other Operating Revenue, and Nonoperating Revenue. Indicate which of the three revenue accounts would be credited to record the following transactions, or None if none of the accounts is appropriate. Snack bar sales Pharmacy sales to patients Gains on sale of unrestricted investments Choose... Choose... Choose... Princess Alice makes a cash gift which has no strings attached. Choose... Dividends from Unrestricted investments Choose... Proceeds from bond sale Choose... Fees for educational program offered to nurses Choose... = Cafeteria sales to visitors Choose... Contributions for a term endowment = Choose... Operating rooms fees Choose.... A not-for-profit hospital uses three revenue-controlling accounts: Patient Service Revenue, Other Operating Revenue, and Nonoperating Revenue. Indicate which of the three revenue accounts would be credited to record the following transactions, or None if none of the accounts is appropriate. Snack bar sales Pharmacy sales to patients Gains on sale of unrestricted investments Princess Alice makes a cash gift which has no strings attached. Dividends from Unrestricted investments Proceeds from bond sale Fees for educational program offered to nurses Choose... Choose... Nonoperating Revenue permanently restricted Nonoperating Revenue - Unrestricted Other Operating Revenue - permanently restricted None Nonoperating Revenue temporarily restricted Patient Services Revenue - Unrestricted Other Operating Revenue - Unrestricted Other Operating Revenue temporarily restricted Choose... Choose... Cafeteria sales to visitors Contributions for a term endowment Operating rooms fees Choose... Choose... +image text in transcribedimage text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting A Focus on Ethical Decision Making

Authors: Steve Jackson, Roby Sawyers, Greg Jenkins

5th edition

324663854, 978-0324663853

Students also viewed these Accounting questions

Question

What are the role of supervisors ?

Answered: 1 week ago