In This Month, There Were Several Patients That Had No

question 2

Essay

In this month, there were several patients that had no health insurance and due to their low income level, the hospital decided that $96,000 of receivables would not be collectible.Required:Prepare the necessary journal entry to reflect the decision to consider the $96,000 as charity care.

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Definitions:

Competency-Based Pay

Pay based on an employee’s skill level, variety of skills possessed, or increased job knowledge

Hay Profile Method

A job evaluation technique using three factors—knowledge, mental activity, and accountability—to evaluate executive and managerial positions.

Market Pricing

The practice of setting salaries based on the prevailing wage rates for similar positions in the external labor market.

Knowledge and Accountability

The principle that having access to information or understanding responsibilities leads to being held responsible for actions and decisions.