Wave Inn Is a Resort Located in Canada

question 103

Multiple Choice

Wave Inn is a resort located in Canada.Wave Inn collects cash when guests make a reservation.During December 2011, Wave Inn collected $60,000 of cash and recorded the receipt by recognizing unearned revenue.By the end of the month Wave Inn had earned one third of this amount, the other two third will be earned during January 2012.The adjusting entry required at December 31, 2011 would impact the statement of financial position by

• A)Increased Equity $40,000.
• B)Decreased Liabilities $20,000.
• C)Increased Assets $60,000.
• D)Decreased Equity $20,000.

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Definitions:

Critical Pathways

A method used in healthcare to outline a standardized plan for a specific patient population, guiding timely care delivery and resource allocation.

Standardized Nursing Care Plans

Structured guides used by nurses to provide the best individualized care, based on evidence and standards of practice.

Recommended Lengths of Stay

Guidelines indicating the optimal duration of hospital admission for various conditions and treatments, aiming to enhance patient outcomes and resource utilization.

Nursing Interventions

Actions undertaken by nurses to address patient health problems and improve the care of patients.