Problem 19-10 with the reasons for the answer
Homework Answers
In case of multiple questions, only the first will be answered
c) a $2000 credit to operating expenses
medicines purchase for a hospital is an operating expense. Initially, when the hospital purchased the medicines it must have debited $2000 to operating expenses. Now, to reverse the exp it will credit $2000 to operating expenses
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Problem 19-10 with the reasons for the answer
Cash ....... Debit Credit Accounts Receivable (net) ......
Problem 19-11 with details please a. $0. b. a decrease of $40,000. c. an increase of...
Problem 19-11 with details please
a. $0. b. a decrease of $40,000. c. an increase of $40,000. d. an increase of $50,000. (AICPA adapted) Problem 19-11 (LO 7, 8) Health care, multiple-choice. Select the best answer for each of the following multiple-choice items dealing with health care organizations. 1. Hospital financial resources are required by a bond indenture to be set aside to finance con- struction of a new pediatrics facility. In which of the following hospital net asset classes...
Debit S8 Credit Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts...
Debit S8 Credit Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Incone Tax Expense Totals $27 Transactions during 2018 (summarized in thousands of dollars) follow a Borrowed $15 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for...
Net credit sales $120,000 Average accounts receivable 20,000 Cash collections on credit sales 100,000 271) What...
Net credit sales $120,000 Average accounts receivable 20,000 Cash collections on credit sales 100,000 271) What is the receivables turnover ratio? A) 5.0. B) 1.2. C) 0.2. D) 6.0. If management can estimate the amount of loss that will occur due to litigation against the company, and the likelihood of the loss is reasonably possible, a contingent liability should be Neither disclosed nor reported as a liability. Disclosed and reported as a liability. Reported as a liability, but not disclosed....
What is the Return on Assets Ratio, Current Ratio, Days Cash on Hand and Average Collection...
What is the Return on Assets Ratio, Current Ratio, Days
Cash on Hand and Average Collection Period / Days in Accounts
Receivable for Jackson Hospital in 2018?
Please look at the images and also the options that are
available for answers
Return on Assets Ratio
A: 1.6%
B: 3.2%
C: 8.40%
D: 13.36%
Current Ratio
A: 1.7 times
B: 2.8 %
C: 1.9 times
D: 2.4 times
Days Cash on Hand
A: 12.1 days
B: 18.9 days
C: 35.00 days...
Debit Credit $ 4 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization...
Debit Credit $ 4 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (long-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Supplies Expense Depreciation Expense Salaries and Wages Expense Amortization Expense Interest Expense Income Tax Expense Totals Oui OOOOOO OOOOOO Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on July 1, 2018, signing a six-month note payable. b....
Account Titles Debit Credit Cash 2 Accounts Receivable 6 Supplies Land 13 0 Equipment Accumlated Depreciation...
Account Titles Debit Credit Cash 2 Accounts Receivable 6 Supplies Land 13 0 Equipment Accumlated Depreciation 70 5 Software 15 Accumlated Anortization 5 Accounts Payable Notes Payable short-term) 0 Salaries and Wages Payable Interest Payable Income Tax Payable Comon Stpck 0 0 0 83 Retained Earnings Service Revenue 0 Salaries and Wages Expense Depreciation Expense Amortisation Expense Income Tax Eжрense Interest Expense Supplies Expense 0 0 0 0 0 0 $106 $106 Totals Transactlons and events during 2018 (summarlzed In...
A local private not-for-profit health care entity (Rochester Medical) incurred the following transactions during the current...
A local private not-for-profit health care entity (Rochester
Medical) incurred the following transactions during the current
year. The entity has one program service (health care) and two
supporting services (fundraising and administrative).
The board of governors for Rochester Medical (RM) announces
that $160,000 in previously unrestricted cash will be used in the
near future to acquire equipment. These funds are invested until
the purchase eventually occurs.
RM receives a donation of $80,000 in cash with the stipulation
that the money...
2 A local private not-for-profit health care entity (Rochester Medical) incurred the following transactions during the...
2 A local private not-for-profit health care entity (Rochester Medical) incurred the following transactions during the current year. The entity has one program service (health care) and two supporting services (fundraising and administrative). 5.66 points eBook Print a. The board of governors for Rochester Medical (RM) announces that $160,000 in previously unrestricted cash will be used in the near future to acquire equipment. These funds are invested until the purchase eventually occurs. b. RM receives a donation of $80,000 in...
Question 1 Winter County enacted a law establishing a Highway Special Revenue Fund, effective January 1,...
Question 1 Winter County enacted a law establishing a Highway Special Revenue Fund, effective January 1, 2020. The fund expenditures were to be financed by a special gasoline tax. Prepare journal entries to record the following transactions for the calendar year 2020. Then prepare a preclosing trial balance as of December 31,2020. a. Winter County adopted the following budget for the fund: Estimated revenues—gasoline taxes 855,000 Appropriations—maintenance salaries 745,000 Appropriations—maintenance supplies 90,000 Budgeted increase in fund balance 20,000 b. The...
Winter County enacted a law establishing a Highway Special Revenue Fund, effective January 1, 2020. The...
Winter County enacted a law establishing a Highway Special Revenue Fund, effective January 1, 2020. The fund expenditures were to be financed by a special gasoline tax. Prepare journal entries to record the following transactions for the calendar year 2020. Then prepare a preclosing trial balance as of December 31,2020. a. Winter County adopted the following budget for the fund: Estimated revenues—gasoline taxes 855,000 Appropriations—maintenance salaries 745,000 Appropriations—maintenance supplies 90,000 Budgeted increase in fund balance 20,000 b. The county collected...
Problem 19-11 with details please
a. $0. b. a decrease of $40,000. c. an increase of $40,000. d. an increase of $50,000. (AICPA adapted) Problem 19-11 (LO 7, 8) Health care, multiple-choice. Select the best answer for each of the following multiple-choice items dealing with health care organizations. 1. Hospital financial resources are required by a bond indenture to be set aside to finance con- struction of a new pediatrics facility. In which of the following hospital net asset classes...
Debit S8 Credit Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Incone Tax Expense Totals $27 Transactions during 2018 (summarized in thousands of dollars) follow a Borrowed $15 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for...
What is the Return on Assets Ratio, Current Ratio, Days
Cash on Hand and Average Collection Period / Days in Accounts
Receivable for Jackson Hospital in 2018?
Please look at the images and also the options that are
available for answers
Return on Assets Ratio
A: 1.6%
B: 3.2%
C: 8.40%
D: 13.36%
Current Ratio
A: 1.7 times
B: 2.8 %
C: 1.9 times
D: 2.4 times
Days Cash on Hand
A: 12.1 days
B: 18.9 days
C: 35.00 days...
Debit Credit $ 4 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (long-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Supplies Expense Depreciation Expense Salaries and Wages Expense Amortization Expense Interest Expense Income Tax Expense Totals Oui OOOOOO OOOOOO Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on July 1, 2018, signing a six-month note payable. b....
Account Titles Debit Credit Cash 2 Accounts Receivable 6 Supplies Land 13 0 Equipment Accumlated Depreciation 70 5 Software 15 Accumlated Anortization 5 Accounts Payable Notes Payable short-term) 0 Salaries and Wages Payable Interest Payable Income Tax Payable Comon Stpck 0 0 0 83 Retained Earnings Service Revenue 0 Salaries and Wages Expense Depreciation Expense Amortisation Expense Income Tax Eжрense Interest Expense Supplies Expense 0 0 0 0 0 0 $106 $106 Totals Transactlons and events during 2018 (summarlzed In...
A local private not-for-profit health care entity (Rochester
Medical) incurred the following transactions during the current
year. The entity has one program service (health care) and two
supporting services (fundraising and administrative).
The board of governors for Rochester Medical (RM) announces
that $160,000 in previously unrestricted cash will be used in the
near future to acquire equipment. These funds are invested until
the purchase eventually occurs.
RM receives a donation of $80,000 in cash with the stipulation
that the money...
2 A local private not-for-profit health care entity (Rochester Medical) incurred the following transactions during the current year. The entity has one program service (health care) and two supporting services (fundraising and administrative). 5.66 points eBook Print a. The board of governors for Rochester Medical (RM) announces that $160,000 in previously unrestricted cash will be used in the near future to acquire equipment. These funds are invested until the purchase eventually occurs. b. RM receives a donation of $80,000 in...
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