Answer:
FALSE .
Explanation:
Prospective payment mechanisms beyond capitation don't provide an opportunity for companies to reduce the level of services provided.
- A Prospective Payment System is a compensation system by which Medicare awards are made on the basis of a defined, set amount.
- The payment rate for a particular service is calculated on the basis of that service's grading system.
Therefore, The following statement is false.
Answer:
Answer is given below.
Explanation:
Economic Unit Concept
2014 2015
Jannison Inc. 308000 364000
Techron Co. 98000 126000
Sub Total 406000 490000
Less : Amortization 11000 11000
Total Net Income 395000 479000
Non Controlling Interest
= 10 % of Techron Co,
(after deduction of amortization expense)
= 10% (98000-11000) 8700
= 10% (126000-11000) 11500
Consolidated Net income 386300 467500
(after Noncontrolling interest allocation)
Under Economic unit concept both business are taken as a single business unit, and accordingly incomes of both entities are clubbed to find income of business as whole
Accounting adds and subtracts numbers billing etc.
Bookkeeping just organizes and stores imformation.
Answer:
$38,100 ; $45,600 and $0
Explanation:
The computation is shown below:
For amount transferred from the income summary account to the Retained Earnings account in the third closing entry i.e net income or net loss
As we know that
Net income = Total revenues - total expenses
Commission revenue $49,700
Rent revenue $7,300
Less: expenses
Depreciation expense - $5,200
Utilities expense -$8,600
Supplies expense -$5,100
Net income $38,100
The balance in retained earning account is
= Opening retained earning balance + net income - dividend paid
= $22,500 + $38,100 - $15,000
= $45,600
And, the balance in depreciation expense account is zero as this depreciation expense account is closed while closing the expenses account i.e utilities expense, supplies expense and depreciation expenses
She would probably get less customers because she no longer contributes to charity
