Chapter 15
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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show | Increases in assets
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show | To record a charge, payment,or adjustment on a ledger or account
To record financial transactions
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Accounts receivables ledger | show 🗑
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show | That which is owned by the business
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Liability | show 🗑
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Daysheet | show 🗑
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Credit | show 🗑
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show | The owners net worth
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show | amount of monies due to a creditor
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show | As much as needed
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Retn | show 🗑
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p.r.n | show 🗑
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B/F | show 🗑
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pd | show 🗑
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adj | show 🗑
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show | Received on account
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show | Recieved
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Bookkeeping | show 🗑
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Accounting | show 🗑
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show | Simplest bookkeeping/ system not self balancing
A system of bookkeeping in which each transaction is entered in one account
only
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Double - entry | show 🗑
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show | Accounting has been aa popular pare based bookkeeping method used in physicIns offices A lthough computerized systems have largely replaced it
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show | Purchases are not recorded as (expenses) until the bill is actually paid
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ledger card | show 🗑
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show | for minor office expenses, money should be taken from the
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Payroll records | show 🗑
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show | generally in a medical office only two journals are required
one to record cash receipts and the other to record disbursement
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Bookkeeping | show 🗑
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Accounts payable example | show 🗑
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show | Increases in assets are termed debits. Decreases in
assets are called credits.
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show | is relatively easy to learn and use and is acceptable to both federal and state authorities as a basis for filing tax returns. In this system, records include:
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show | daysheet, daily log, daybook, or charge journal, in which all fees for services rendered and payments are recorded every day
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accounts receivable (A/R) ledger, | show 🗑
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show | (check register or checkbook), which shows amounts paid out for the expenses of the business practice
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show | contains records showing monies that are available for minor office expenses and monies that have been disbursed
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payroll records | show 🗑
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show | simplest bookkeeping system not self balancing
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show | Bookkeeping system of financial records used in businesses whereby equal accounting debits and credits are recorded
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show | are anything owned by the business, such as equipment, furniture, bank accounts, buildings, accounts receivable, and so on
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show | is original investment money and other property of a corporation that is owned
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Liabilities | show 🗑
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Proprietorship, | show 🗑
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show | Physicians’ accounts are kept on what is called a ?
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show | shows one month’s transactions. Each day an entry is made in the general ledger listing incoming receipts, the bank deposit, and miscellaneous cash expenditures.
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show | To carry forward the Balance
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show | Journal in which all daily fees and payments are recorded
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account (C) | show 🗑
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show | Using pegboard accounting , at the same time that monies Recieved ( cash and checks) are recorded on the days heat they are also recorded on a
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PATIENT ACCOUNTS | show 🗑
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show | is a chronologic history of all financial transactions for a patient. In a manual bookkeeping system, the card may be photo- copied and used as a monthly statement.
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Charges | show 🗑
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vouchers. | show 🗑
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show | Total amounts owed on the PTs account for all business transactions
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show | When the contracted insurance payment plus the patient responsibility is less than the amount of the charge, the amount over the “allowed amount” is written off the books as a contract adjustment.
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Uncollectible Debt Adjustment | show 🗑
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show | A common bookkeeping abbreviation for coinsurance
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show | Patients account so new charges can be made
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Payable | show 🗑
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show | Medical practice accounts are kept on a ( cash) basis, which means they are based on money taken in as payment for services
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Income | show 🗑
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show | If an overpayment has been Recieved from an insurance company from a
Patient and the account is paid in full
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In a computerized system when are charges posted | show 🗑
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show | Credit column
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Who does the office send monthly statements to | show 🗑
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Accounts recieveable | show 🗑
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Account balance | show 🗑
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show | Depending on the size of the practice a change drawer topically holds
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show | In a manual bookkeeping system copies of the ledger card Canberra used as
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
Tbella
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