Health care, revenues, expenses, contributions. Record the following events of Elmwood Hospital.
a. Patients were billed for the following gross charges:
|
Room and board |
$680,000 |
|
Physicians’ care |
220,000 |
|
Laboratory and radiology |
110,000 |
b. A donation of drugs with a fair value of $12,000 was received from a doctor. The drugs are normally purchased.
c. Revenues were reported from:
|
Newsstand and snack bar |
$15,800 |
|
Parking lot charges |
3,200 |
|
Vending machines |
9,800 |
d. A charity allowance of $13,000 was granted to indigent patients.
e. Contractual adjustments granted to patients for Medicare charges totaled $68,000.
f. The hospital recorded an increase in the provision of $26,000 for uncollectible receivables.