Q: The Houston Corporation signs a formal pledge to give $100,
The Houston Corporation signs a formal pledge to give $100,000 in cash to a private not-for-profit entity within the next year. The money must be spent to upgrade important equipment used by the chari...
See AnswerQ: A local private not-for-profit entity receives a large
A local private not-for-profit entity receives a large monetary pledge. Accountants are attempting to determine if the contribution is conditional. They are assessing the possible existence of a barri...
See AnswerQ: What are the three types of restricted net assets? a
What are the three types of restricted net assets? a. Current, noncurrent, structural b. Purpose, time, permanent c. Immediate, longer than one year, longer than five years d. Monetary, nonmonetary, l...
See AnswerQ: Which of the following are unique to the reporting of revenue by
Which of the following are unique to the reporting of revenue by a health care entity? a. Charity care must be reported even if the entity does not anticipate seeking collection. b. The patients pay f...
See AnswerQ: A health care entity provides services to a patient. Those services
A health care entity provides services to a patient. Those services have a standard charge of $76,000. The insurance company that represents the patient has a contract with the entity that leads to a...
See AnswerQ: Which of the following is not true about the application of new
Which of the following is not true about the application of new revenue recognition rules to private not-for-profit health care entities? a. Revenues are likely to be much lower than under previous ru...
See AnswerQ: Mike Jones spends five days in a local private not-for
Mike Jones spends five days in a local private not-for-profit hospital. The hospital charges him $170,000 for the services. His insurance company has contracts with the hospital that will lower the am...
See AnswerQ: Shirly Ngo spends four days in a local private not-for
Shirly Ngo spends four days in a local private not-for-private hospital. The hospital charges her $140,000 for the services. Her insurance company has contracts with the hospital that will lower the a...
See AnswerQ: During the year ended December 31, 2020, Andersen Hospital (
During the year ended December 31, 2020, Andersen Hospital (operated as a private not-for-profit entity) received and incurred the following:
See AnswerQ: A private not-for-profit entity is working to create
A private not-for-profit entity is working to create a cure for a disease. The charity starts the year with one asset, cash of $700,000. Net assets without donor restrictions are $400,000. Net assets...
See Answer
