Accounting for patient service revenue Ruby Ruth Hospital had the following transactions during the year ended December 31, 2018 Prepare journal entries to record these transactions, and state the amount that Ruby Ruth Hospital would report as patient service revenue in its operating statement Description Debit Credit AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record gross patient service revenue AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record an adjustment based on arrangement with third party payer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record collection of receivables Description Debit Credit AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record gross patient service revenue AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record an adjustment based on arrangment with third party payer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record collection of receivables AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record provision for estimated refund Description Debit Credit AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record gross patient service revenue AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments Answer Answer To record an adjustment due to charity care The hospital provided services to patients insured by third party payer A amounting to $5 million at its established billing rates The hospitals prospective billing arrangement with this third party stipulates payment to the hospital of 70 percent of its established rates for services performed All billings were paid during the year The hospital provided services to patients insured by third party payer B amounting to $3 million at its established billing rates Its retrospective billing arrangement with this third party stipulates that the hospital should receive payment at an interim rate of 90 percent of its established rates, subject to retrospective adjustment based on agreed upon allowable costs By year end, B had paid all the billings Before issuing its financial statements, the hospital estimated that the probable amount it will need to refund to B is $250,000, based on allowable costs The hospital provided services to charity patients amounting to $1 million at its established billing rates What amount would be Ruby Ruth Hospital report as patient service revenue on it's operating statement $Answer net patient service revenue

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Accounting for patient service revenue Ruby Ruth Hospital had the following transactions during the year ended December 31, 2018. Prepare journal entries to record these

Accounting for patient service revenue

Ruby Ruth Hospital had the following transactions during the year ended December 31, 2018. Prepare journal entries to record these transactions, and state the amount that Ruby Ruth Hospital would report as patient service revenue in its operating statement.

Description	Debit	Credit
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record gross patient service revenue.

AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record an adjustment based on arrangement with third-party payer.

AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record collection of receivables.

Description	Debit	Credit
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record gross patient service revenue.

AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record an adjustment based on arrangment with third-party payer.

AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record collection of receivables.

AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record provision for estimated refund.

Description	Debit	Credit
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record gross patient service revenue.

AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
AnswerAllowance for uncollectible accountsBad debt expenseCashEstimated third-party payer settlementsPatient accounts receivablePatient service revenueProvisions for charity servicesProvisions for contractual adjustments	Answer	Answer
To record an adjustment due to charity care.

The hospital provided services to patients insured by third-party payer A amounting to $5 million at its established billing rates. The hospitals prospective billing arrangement with this third party stipulates payment to the hospital of 70 percent of its established rates for services performed. All billings were paid during the year.

The hospital provided services to patients insured by third-party payer B amounting to $3 million at its established billing rates. Its retrospective billing arrangement with this third party stipulates that the hospital should receive payment at an interim rate of 90 percent of its established rates, subject to retrospective adjustment based on agreed-upon allowable costs. By year-end, B had paid all the billings. Before issuing its financial statements, the hospital estimated that the probable amount it will need to refund to B is $250,000, based on allowable costs.

The hospital provided services to charity patients amounting to $1 million at its established billing rates.

What amount would be Ruby Ruth Hospital report as patient service revenue on it's operating statement? $Answer

net patient service revenue