The difference between a hospital's established billing rate and the amount paid by a third-party payer is referred to as contractual adjustment.
Contractual Adjustment is a part of a patient's bill that a doctor or hospital must write-off because of billing agreements with the insurance company.
A write off is simply the amount that cannot be collected from patient due to several issues.
A contractual adjustment is important because it helps in preventing fraud from occurring in the total amount of the bill.
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Answer:
Debit Notes Payable $45,000; debit Interest Payable $750; debit Interest Expense $750; credit Cash $46,500
Explanation:
The journal entry is given below:
Notes payable $45,000
Interest payable ($45,000 × 10% × 60 ÷ 360) $750
Interest expense ($45,000 × 10% × 60 ÷ 360) $750
To Cash $46,500
(Being payment of notes payable is recorded)
here note payable, interest payable, interest expense is debited as it increased the expenses and decreased the liabilities while on the other hand the cash is credited as it decreased the assets
Answer:
Results are below.
Explanation:
Giving the following information:
Purchase price= $80,360
Salvage value= $7,910
Useful life= 7 years
<u>To calculate the annual depreciation, we need to use the following method:</u>
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (80,360 - 7,910) / 7
Annual depreciation= $10,350
<u>2022:</u>
Annual depreciation= (10,350/12)*2= $1,725
<u>2023:</u>
Annual depreciation= $10,350
The correct answer is D. None of the above.
All these which are given they are disadvantages of renting.
Some of the advantages of renting a home may determine with the style of living and financial situation of a person.
Some advantages of renting a home may include;
1. Landlord may be responsible for maintenance or any property which needs repair.
2. It is cheaper to rent than to own a house
3. There is a lot of flexibility when renting. For example, movement from one place to another.
Answer:
it vegata loll..............
