MHA 600 Flashcards
Billed for Patient Services Rendered
Where on the Balance Sheet and Income Statement?
Income Statement-CREDIT-Patient Services Revenue
Balance Sheet-DEBIT-Accounts Receivable
Balance Sheet-NO CREDIT
(If there is an income statement CREDIT, there is no balance sheet CREDIT)
Made Payment on Bank Loan
Where on the Balance Sheet and Income Statement?
NOT ON INCOME STATEMENT
Balance Sheet-DEBIT-Bank Loan
Balance Sheet-CREDIT-Cash
There must be a balance sheet DEBIT and CREDIT if not on the income statement.
Purchased Equipment for Lab
Where on the Balance Sheet and Income Statement?
NOT ON INCOME STATEMENT
Balance Sheet-DEBIT-Equipment
Balance Sheet-CREDIT-Cash
There must be a balance sheet DEBIT and CREDIT if not on the income statement.
Purchased Medical Supplies
Where on the Balance Sheet and Income Statement?
NOT ON INCOME STATEMENT
Balance Sheet-DEBIT-Inventory/Supplies
Balance Sheet-CREDIT-Accounts Payable
There must be a balance sheet DEBIT and CREDIT if not on the income statement.
Annual Change in Accumulated Depreciation
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Depreciation Expense
Balance Sheet-NO DEBIT
Balance Sheet-CREDIT-New Depreciation
If there is an income statement DEBIT, there is no balance sheet DEBIT
Received Draw from Bank Loan
Where on the Balance Sheet and Income Statement?
NOT ON INCOME STATEMENT
Balance Sheet-DEBIT-Cash
Balance Sheet-CREDIT-Bank Loan
There must be a balance sheet DEBIT and CREDIT if not on the income statement.
Estimated Bad Debts for the Year
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Less Bad Debt
Balance Sheet-CREDIT-Less Allowance for Bad Debts
Balance Sheet-NO DEBIT
If there is an income statement DEBIT, there is no balance sheet DEBIT
Made payment to CMS for retro billing audit findings
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-less bad debt
Balance Sheet-NO DEBIT
Balance Sheet-CREDIT-Cash
If there is an income statement DEBIT, there is no balance sheet DEBIT
Received cash collections on patient billings
Where on the Balance Sheet and Income Statement?
NOT ON Income Statement
Balance Sheet-DEBIT-Cash
Balance Sheet-CREDIT-Accounts Receivable
There must be a balance sheet DEBIT and CREDIT if not on the income statement.
Medical Supplies Used in Patient Care
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Expenses
Balance Sheet-CREDIT-Supplies
Balance Sheet-DEBIT-NOT USED
If there is an income statement DEBIT, there is no balance sheet DEBIT
Received Bill for Property Taxes on Equipment
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Expenses
Balance Sheet-CREDIT-Accounts Payable
Balance Sheet-DEBIT-Not on Balance Sheet
If there is an income statement DEBIT, there is no balance sheet DEBIT
Made dividend payment to stockholders
Where on the Balance Sheet and Income Statement?
Income Statement-NOT on Income Statement
Balance Sheet-DEBIT-Dividends
Balance Sheet-CREDIT-Cash
There must be a balance sheet DEBIT and CREDIT if not on the income statement.
Paid Bill to Sodexco for EVS Consulting
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Administrative Expenses
Balance Sheet-DEBIT-Not on there
Balance Sheet-CREDIT-Cash
If there is an income statement DEBIT, there is no balance sheet DEBIT
Storeroom Destroyed out of date stock
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Supplies
Balance Sheet-DEBIT-not on sheet
Balance Sheet-CREDIT-Supplies Inventory
If there is an income statement DEBIT, there is no balance sheet DEBIT
Received Investment Income
Where on the Balance Sheet and Income Statement?
Income Statement-CREDIT-Investment Income
Balance Sheet-DEBIT-Cash
Balance Sheet-NOTHING on CREDIT
If there is an income statement CREDIT, there is no balance sheet CREDIT
Paid Expenses for Corporate Shared Services
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Admin Expenses
Balance Sheet-DEBIT-not on balance sheet
Balance Sheet-CREDIT-Cash
If there is an income statement DEBIT, there is no balance sheet DEBIT
Paid Interest Expense on bank loan
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Expenses Interest
Balance Sheet-DEBIT-not on balance sheet
Balance Sheet-CREDIT-Cash
If there is an income statement DEBIT, there is no balance sheet DEBIT
Paid NC State for Lean State Pricess Improvement
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Admin Expenses
Balance Sheet-DEBIT-not on balance sheet
Balance Sheet-CREDIT-Cash
If there is an income statement DEBIT, there is no balance sheet DEBIT
Paid Staff Bonus for meeting year end KPI goals
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Expenses
Balance Sheet-nothing on DEBIT
Balance Sheet-CREDIT-Cash
If there is an income statement DEBIT, there is no balance sheet DEBIT
Employee Salaries Earned
Where on the Balance Sheet and Income Statement?
Income Statement-DEBIT-Expense Salary
Balance Sheet-DEBIT-not on balance sheet
Balance Sheet-CREDIT-Salaries
If there is an income statement DEBIT, there is no balance sheet DEBIT
Employee Salaries Paid
Where on the Balance Sheet and Income Statement?
Income Statement-NOT ON INCOME STATEMENT
Balance Sheet-DEBIT-Salaries
Balance Sheet-CREDIT-Cash
Examples of Fixed Costs
Labor Costs as long as they’re in a relevant range
Expenditures on facilities
Expenditures on dx equipment
Expenditures on information systems
Examples of Variable Costs
Volume dictates variable costs
Clinical supplies
Leased equipment if it is per procedure
What is underlying cost structure
The relationship between fixed and variable cost and volume
