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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Debit | show 🗑
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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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show | Record of all pt's outstanding accounts showing how much each one owes
for services rendered
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show | That which is owned by the business
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show | Monies that are owed By a business
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show | Register for recording all daily business transactions
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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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Ad lib. | show 🗑
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show | Return
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show | As necessary
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show | Balance forward
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pd | show 🗑
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show | Adjustment
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ROA | show 🗑
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show | Recieved
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show | The activity or occupation of keeping records of financial affairs of a business
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show | The system of recording and summarizing business and financial transactions. and analyzing, verifying,and reporting the results
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Single -entry | show 🗑
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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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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)
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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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show | rent due for office space in an example of an entry under accounts payable
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Accounting Systems | show 🗑
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Single-entry accounting | show 🗑
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general ledger or journal, | show 🗑
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show | which consists of all of the patients’ accounts showing the amounts owed for services rendered; should be insured against fire or flood damage
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accounts payable (A/P) ledger | show 🗑
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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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show | indicate salaries and wages paid and deductions made
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Single-entry accounting | show 🗑
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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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cash basis, | show 🗑
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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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Extend | show 🗑
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General ledger | show 🗑
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account (C) | show 🗑
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bank deposit slip | show 🗑
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show | are known as open accounts in a physician’s practice and these records are kept on all individual patients’ daily financial activities
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ledger card or patient account | show 🗑
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show | Fees for office visits
Lab test
Medical supplies and other services for the Pt are ?
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show | Checks received from insurance companies are called vouchers. All payments are debited (sub- tracted) from the account balance.
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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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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
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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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show | Earned money is not considered income until tha bill is actually paid
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Refund adjustments transaction | show 🗑
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show | Automatically when inputting the correct procedure code
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show | Credit column
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show | All Pts with outstanding balances
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Accounts recieveable | show 🗑
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show | Total amounts owed on the Pt account for all business transactions
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$50-$200 | show 🗑
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Patients statement | show 🗑
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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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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.
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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