Question
Classify the following as one of the following: Patient service revenue Other exchange transaction revenue Contractual adjustment Other nonexchange transaction revenue Not recorded revenue 1.
Classify the following as one of the following:
- Patient service revenue
- Other exchange transaction revenue
- Contractual adjustment
- Other nonexchange transaction revenue
- Not recorded revenue
1. | Received $20 as co-pay from a patient for an out-patient visit. Billed $500 to insurance. |
2. | Gift shop sales amounted to $1,500. |
3. | Citizens Health Insurance paid $350 as final payment on the $500 billed for the patient in transaction 1. |
4. | The hospital provided medical care valued at $20,000 for homeless citizens. |
5. | A grateful patient contributed $1,000 for unrestricted use by the hospital. |
6. | The hospital received $500 for CPR training it provided to the city fire department. |
7. | The local retirees association contributed $2,000 of labor at the hospital information desk. |
8. | The hospital received a $10,000 federal grant to provide immunizations to children. |
9. | Patient accounts of $500 were written off a uncollectible. |
10. | Pharmaceutical firms donated recently approved drugs valued at $8,000. The hospital uses a similar type drug in its operations. |
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