MOA130 Bookkeeping in the Medical Office Bookkeeping Worksheet Name: Grade: 1 point for each correct answer. Grade: Directions: Complete each statement. Using the vocabulary list will be helpful ccounts payabi -are debts incurred but not yet paid. 2. To estimate the budget fo r a new year, the practice should evaluate expenses from the year The entire property of a person is said to be his or her 4. Amounts owed to the physician are accounts The recording of business and accounting transactions is called 5. A record or notation of a transaction is called a(n) 6. 7. Sally reviewed the EOB for Mr. James Bank's account and saw that the provider's fee exceeded the amounts stated on the EOB. She posted an/a to his account record for the difference. 8, ABC Physical Therapy was offering a $150 check to providers for each patient referred who was on a government insurance plan. ABC Physical Therapy violated the This amount is considered their Jameson Medical Clinic has $2350 in the bank that can be withdrawn as cash. 9. This is a manual bookkeeping system that uses day sheets to record all financial transactions for the date of 10. service and maintains patient account balances by using physical cards. 11. M &N Insurance Company overpaid a patient's account by $75. Sally, the accountant, needed to send a check which was a back to the insurance company Write Tor F on the line next to the statement. In the physician's office, the accounts payable is the amount of money that all patients owe the physician. Indicate whether the statement is true (T) or false (F). rections: 12. 13. The purpose of the trial balance is to disclose any discrepancies between the journal and the ledger