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Elza [17]
2 years ago
6

Identify the self-assessment test that each statement describes.

Business
2 answers:
Rzqust [24]2 years ago
6 0

The correct answer is

529 Plan

:)

Xelga [282]2 years ago
3 0
529 plan would be the answer
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I got 1000 point \<br> now I got 990 lol
laiz [17]

Answer:

cool

Explanation:

7 0
2 years ago
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Suppose Aiyanna's pizzeria currently faces a linear demand curve and is charging a very high price per pizza and doing very litt
snow_tiger [21]

Answer:

The correct answer is option A.

Explanation:

Price elasticity of demand measures the change in the quantity demanded due to a change in the price of the commodity. In order to increase the demand for pizza, Aiyanna decides to lower the price of pizza by 5% per week.  

With passage to time, the demand for a commodity becomes more and more elastic. This is because, with time, the consumers are able to get adjusted to price change.  So each successive week demand will become more price elastic.

7 0
3 years ago
Douclamp, a steel manufacturing company, makes small investments in three iron ore plants in different cities. When one of the p
Bess [88]

Answer: Options-based planning

Explanation:

The Option based planning is one of the concept that helps in maintain the flexibility of the various types of plans for making the various types of investments.

The main purpose of the option based planning is that it helps in maintaining the slack resources are are specifically used in the for  of extra resource for the purpose of adapting the various types of changes and also the problems.

According to the given question, the Douclamp is one of the type of manufacturing company that basically making small level of investments on the iron ore plant.

Therefore, Douclamp is using the options based planning based on the given scenario.  

8 0
3 years ago
The following are transactions and events of the general fund of Sycamore Hospital, a not-for-profit entity, for the 20X6 fiscal
BigorU [14]

Answer:

1. Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Dr Cash 6,455,000

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

8. Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

Explanation:

Preparation of the Journal entries for Sycamore Hospital.

1. Since we were told that the company Provided a total of the amount of $6,600,000 in patient services this means that the transaction will be recorded as:

Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Based on the information given we were told that the company had total operating expenses of the amount of $5,998,000 which means that the transaction will be recorded as:

Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Since we were told that Allowed contractual adjustments was the amount of $210,000 which is a deductions from gross patient revenue, which means that the transaction will be recorded as:

Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Based on the information given we were told that the company received a transfer of the amount of $200,000 for the payment of approved operating costs which means that the transaction will be recorded as:

Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Since the company received a transfer of the amount of $230,000 from the temporarily restricted plant fund in order to purchase new equipment for the hospital, this means that the transaction will be recorded as:

Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Since the company received the amount of $150,000 of unrestricted gifts, this means that the transaction will be recorded as;

Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Since the company collected accounts receivable except for the amount of $65,000 which was written off, this means that the transaction will be recorded as:

Dr Cash 6,455,000

(6,390,000 +65,000)

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

(6,600,000-210,000)

8. Based on the information given we were told that the company reported the amount of $90,000 as an increase in the market value, this means that the transaction will be recorded as:

Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

8 0
3 years ago
Selected transactions from the journal of Monty Corp., are presented below:
iogann1982 [59]

Answer:

Aug. 1 Cash 37,800

Common Stock 37,800 (Investment of cash for stock)

Dr.Cash                  37,800

Cr. Common stock 37,800

10 Cash 17,010

Service Revenue 17,010 (Received cash for services performed)

Dr. Cash                     17010

Cr. Service Revenue 17010

12 Equipment 31,500

Cash 5,040

Notes Payable 26,460 (Purchased office equipment for cash and notes payable)

Dr. Office Equipment  31500

Cr. Cash                       5040

Cr. Account Payable   26460

25 Account Receivable 10,080

Service Revenue 10,080 (Billed clients for services performed)

Dr. Account Receivable   10080

Cr. Sales                            10080

31 Cash 5,544

Accounts Receivable 5,544 (Receipt of cash on account)

Dr. Cash                          5544

Cr. Account Receivable 5544

T account are prepared in the attached MS Excel File, Please find that.

Download xlsx
7 0
3 years ago
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