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Elza [17]
3 years ago
8

A hospital estimates that, based on past experience, it will incur $5 million in malpractice claims as a result of services rend

ered in the current period. The hospital carries a malpractice insurance policy with a yearly $2 million deductible clause. The amount that should appear on its year-end financial statement as Claims Expense (Loss) should be
a) $0.b) $2 million.c) $3 million.d) $5 million.
Business
1 answer:
Gala2k [10]3 years ago
5 0

Answer:

d) $5 million.

Explanation:

The amount that should appear on the year-end financial statement should be the most probable estimate. In this case, $5 million is the most probable because this is deduced from past experience, while $2 million is a practice that should be reviewed in the light of new information.

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The management at ABC Computers believes that high sales will result in high profit. Together with the company sales force, mana
dimaraw [331]

Answer:

<u><em>Sales</em></u>-Oriented

Explanation:

A Sales-Oriented Company's main focus is on <em>producing a sales team to advertise and market their products or  services.</em>

Generally, such strategies are made through door-to-door sales, telephone conversations,  and other encounters with prospective customers or opportunities.

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7 0
3 years ago
Brief Exercise 3-12 Record the adjusting entry for interest payable (LO3–3) Midshipmen Company borrows $17,000 from Falcon Compa
kati45 [8]

Answer:

Calculate the 2021 year-end adjusted balances of Interest Payable and Interest Expense.

July 1 2021    

   

Db Cash ________________________ 17000    

Cr Borrow payable______________________________  17000        

December 31 2021      

Db Interest expense______________ 1020    

Cr Interest payable_______________________________  1020  

   

June 30 2022          

Db Interest expense______________ 1020    

Cr Interest payable_______________________________  1020  

Explanation:

Borrow                       Loan__%I__ Int.___Amount      

July 1 2021 to December 31 2021  17000 6% 1020__18020

   

July 1 2021    

1    

Db Cash ________________________ 17000    

Cr Borrow payable______________________________  17000  

   

December 31 2021    

   

Db Interest expense______________ 1020    

Cr Interest payable_______________________________  1020  

   

June 30 2022    

   

Db Interest expense______________ 1020    

Cr Interest payable_______________________________  1020  

6 0
3 years ago
What is the eventual effect on real GDP if the government increases its purchases of goods and services by $50,000? Assume the m
Finger [1]

Answer:

a. The real GDP increases by $200,000.

a. The real GDP increases by $150,000.

Explanation:

a. What is the eventual effect on real GDP if the government increases its purchases of goods and services by $50,000?

Eventual effect on real GDP = Amount of increase in government spending * (1 /(1 - MPC)) = $50,000 * (1 / (1 – 0.75)) = $200,000

Therefore, the real GDP increases by $200,000.

a. What is the eventual effect on real GDP if the government, instead of changing its spending, increases transfers by $50,000?

Eventual effect on real GDP = (Amount of increase in government transfers * (1 /(1 - MPC))) - Amount of increase in government transfers = ($50,000 * (1 / (1 – 0.75))) - $50,000 = $150,000

Therefore, the real GDP increases by $150,000.

3 0
2 years ago
calculating present values you need $85,000 in 10 years. if you can earn .65 percent per month, how much will you have to deposi
scoray [572]

Answer:

The correct answer is $39,062.98.

Explanation:

According to the scenario, the given data are as follows:

Future value (FV) = $85,000

Time period (t) = 12 months × 10 years = 120 months

Interest rate (r) = 0.65% per month

So, we can calculate the present value by using following formula:

Present value = Future Value ( 1 / (1+r))^t

= 85000 × (1 / (1+0.65%))^120

= $39,062.98

Hence the present value that has to be deposit today is $39,062.98

3 0
3 years ago
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