Ch 12 hw - Rosmic Calvo ACCT 265 Ch 12 HW 12- 1 a. Charity...

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Rosmic Calvo ACCT 265 Ch 12 HW 12-1 a. Charity care service charges are not formally recorded in the accounts; but expenses are included in operating expense. b. Bad debts that are estimated at the beginning of the year are credited to allowance for patient accounts receivable account. Actual write-offs are debited to the allowance for patient accounts and credited to patient accounts receivable. c. Contractual adjustments are a contra-revenue account that is offset against patient service revenue. Net patient service revenue is reported on the financial statements. 12-5 a. Accounting required under FASB guidance: 1. Debit: Cash and credit: Revenues permanently restricted contributions 2. 2008 Debit: Cash and credit: Revenues temporarily restricted contribution. 2009 Debit: reclassification from temporarily restricted net assets expiration of time restrictions and Credit: reclassification to unrestricted net assets expiration of time restrictions. 3.
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This note was uploaded on 01/20/2010 for the course ACCT 265 taught by Professor Foe during the Fall '09 term at Nashville State Community College.

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Ch 12 hw - Rosmic Calvo ACCT 265 Ch 12 HW 12- 1 a. Charity...

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