What are the three elements included in theend of daysummary? Financial Concepts Worksheet HCS/182 Version 3 1
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What are the three elements included in theend of daysummary?
Financial Concepts Worksheet HCS/182 Version 3 1 University of Phoenix Material Financial Concepts Worksheet Part A: Match the appropriate term to its definition. 1. _____ Fee 2. _____ Bad debt 3. A. The total amount a patient must pay on a covered medical expense. B. A summary of how the business incurs its revenues and expenses through both operating and non-operating activities. C. A small amount of cash available for expenses, such as postage, parking, fees, small contributions, emergency medical supplies, making change for patients, and small miscellaneous items. D. The specific dollar amount charged by the health care entity or physician for each service offered. E. The maximum amount a payer will allow for each procedure. F. Daily record of financial transactions, including services rendered, charges, and receipts. G. The amount of medical encounter charges that is still outstanding. H. The part of the medical bill that must be written off because of billing arrangements with the payer. I. Accounts receivable that cannot be collected and are managed by either the allowance method or direct writeoff. J. An obligation of an entity. K. A list of procedures, services, supplies with associated charge. L. Provides information about a company's gross receipts and gross payments for a specified period of time. M. Residual claimant or interest of investors in assets after all liabilities are paid. N. Tangible or intangible assets that can be owned, controlled, and produce a value. O. Snapshot of the company's accounts at a single point in time. P. Amounts actually collected minus adjustment or discounts. _____ Charge master 4. _____ Allowed charges 5. _____ Deductible 6. _____ Accounts receivable 7 _____ Petty cash fund 8. _____ Net revenue 9. _____ Contractual adjustments 10. _____ Day sheet 11. _____ Balance sheet 12. _____ Income statement 13. _____ Cash flow statements 14. _____ Assets 15. _____ Liabilities 16. _____ Equity Part Financial Concepts Worksheet HCS/182 Version 3 B: Write a 90- to 175-word response to each of the following prompts. Format your answers according to APA guidelines and cite any sources accordingly. 1. Briefly explain the meaning of assets = liabilities + owner's equity. 2. What are the three elements included in the end of day summary? 2
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-0078025822
17th edition
Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson
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