Busy. Please wait.
Log in with Clever
or

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever
or

Username is available taken
show password

Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

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!  

Question
Answer
Debit   show
🗑
show To record a charge, payment,or adjustment on a ledger or account To record financial transactions  
🗑
show Record of all pt's outstanding accounts showing how much each one owes for services rendered  
🗑
show That which is owned by the business  
🗑
show Monies that are owed By a business  
🗑
show Register for recording all daily business transactions  
🗑
Credit   show
🗑
show The owners net worth  
🗑
show amount of monies due to a creditor  
🗑
Ad lib.   show
🗑
show Return  
🗑
show As necessary  
🗑
show Balance forward  
🗑
pd   show
🗑
show Adjustment  
🗑
ROA   show
🗑
show Recieved  
🗑
show The activity or occupation of keeping records of financial affairs of a business  
🗑
show The system of recording and summarizing business and financial transactions. and analyzing, verifying,and reporting the results  
🗑
Single -entry   show
🗑
Double - entry   show
🗑
show Accounting has been aa popular pare based bookkeeping method used in physicIns offices A lthough computerized systems have largely replaced it  
🗑
show Purchases are not recorded as (expenses) until the bill is actually paid  
🗑
show A record showing a chronological list of charges, payments,and balances owed for services provided to an individual Pt can be maintain on a ( ledger)  
🗑
show for minor office expenses, money should be taken from the  
🗑
Payroll records   show
🗑
show generally in a medical office only two journals are required one to record cash receipts and the other to record disbursement  
🗑
Bookkeeping   show
🗑
show rent due for office space in an example of an entry under accounts payable  
🗑
Accounting Systems   show
🗑
Single-entry accounting   show
🗑
general ledger or journal,   show
🗑
show which consists of all of the patients’ accounts showing the amounts owed for services rendered; should be insured against fire or flood damage  
🗑
accounts payable (A/P) ledger   show
🗑
show contains records showing monies that are available for minor office expenses and monies that have been disbursed  
🗑
show indicate salaries and wages paid and deductions made  
🗑
Single-entry accounting   show
🗑
show Bookkeeping system of financial records used in businesses whereby equal accounting debits and credits are recorded  
🗑
show are anything owned by the business, such as equipment, furniture, bank accounts, buildings, accounts receivable, and so on  
🗑
show is original investment money and other property of a corporation that is owned  
🗑
Liabilities   show
🗑
Proprietorship,   show
🗑
cash basis,   show
🗑
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.  
🗑
Extend   show
🗑
General ledger   show
🗑
account (C)   show
🗑
bank deposit slip   show
🗑
show are known as open accounts in a physician’s practice and these records are kept on all individual patients’ daily financial activities  
🗑
ledger card or patient account   show
🗑
show Fees for office visits Lab test Medical supplies and other services for the Pt are ?  
🗑
show Checks received from insurance companies are called vouchers. All payments are debited (sub- tracted) from the account balance.  
🗑
show Total amounts owed on the PTs account for all business transactions  
🗑
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.  
🗑
show It may also be necessary to record the adjustment of a small amount on an uncollectible debt. Any adjustment to an account other than the known contractual write-off amounts should be authorized by the office manager before being posted  
🗑
show A common bookkeeping abbreviation for coinsurance  
🗑
show Patients account so new charges can be made  
🗑
Payable   show
🗑
show Medical practice accounts are kept on a ( cash) basis, which means they are based on money taken in as payment for services  
🗑
show Earned money is not considered income until tha bill is actually paid  
🗑
Refund adjustments transaction   show
🗑
show Automatically when inputting the correct procedure code  
🗑
show Credit column  
🗑
show All Pts with outstanding balances  
🗑
Accounts recieveable   show
🗑
show Total amounts owed on the Pt account for all business transactions  
🗑
$50-$200   show
🗑
Patients statement   show
🗑


   

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.
 
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.

 
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: Tbella
Popular Human Services sets