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3 years ago

7

A hospital incurs $10 million of cost to treat Medicaid patients and receives $7 million in payment. Actual charges for these Me

dicaid patients were $20 million. The net community benefit expense that would be reported in Schedule H of IRS Form 990 would be?

1 answer:

Snowcat [4.5K]3 years ago

6 0

<span>It would be: $3 million ($10 million in cost less $7 million in payment)</span>

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In an effort to raise more tax revenue from the upper class, the government decides to impose a new tax on luxury goods like yac

statuscvo [17]

Answer:

The correct answer is A. A secondary effect of an increase on yacht tax rates would be the laying off of hundreds of poor and middle-class yacht makers as the wealthy spend their money elsewhere.

Explanation:

The tax increase of a certain product necessarily increases the final price of that product, that is, when the tax rate is raised, the amount of money necessary to buy said good rises.

In turn, according to the law of demand, the higher the price, the lower the quantity demanded of the product. In other words, this tax increase would produce a drop in the demand for yachts.

If demand falls, the income of producers and sellers of the product falls. This is where production is affected, since small and medium producers will have greater difficulties to cope with the drop in sales, often incurring losses that would lead to having to close the business.

3 0

3 years ago

Consider the following financial statement information for the Hop Corporation:

nexus9112 [7]

Answer:

Operating cycle = 59.29 days

Cash cycle = 26.1115 days

Explanation:

From the information given:

$\text{Beginning Inventory \$16,284} \\ \\ \text{Beginning Accounts receivable 11,219} \\ \\ \text{Beginning Accounts payable 13,960} \\ \\ \text{Ending Inventory $19,108} \\ \\ \text{Ending Accounts receivable 13,973} \\ \\ \text{Ending Accounts payable 16,676} \\ \\ \text{Net sales \$219,320} \\ \\ \text{Cost of goods sold 168,420} \\ \\$

$\text{Ending Inventory \$19,108} \\ \\ \text{Ending Accounts receivable 13,973} \\ \\ \text{Ending Accounts payable 16,676} \\ \\ \text{Net sales \$219,320} \\ \\ \text{Cost of goods sold 168,420} \\ \\$

To start with:

$\text{Average inventory = } \dfrac{Beginning \ value +Ending \ value}{2} \\ \\ =\dfrac{ 16,284 + 19,108} {2} \\ \\ = \dfrac{35,392}{ 2} \\ \\ = \$17,696$

$\text{Average receivable }=\dfrac{ Beginning value + Ending value }{ 2} \\ \\ =\dfrac{ 11,219 + 13,973 }{2} \\ \\ =\dfrac{ 25,192 }{ 2} \\ \\= \$12,596 \\ \\$

$\text{Average payable }= \dfrac{Beginning \ value + Ending\ value}{ 2} \\ \\ = \dfrac{13,960 + 16,676 }{2} \\ \\= \dfrac{30,636}{2} \\ \\ = \$15,313$

$\text{Days of inventory outstanding} = \dfrac{Average \ inventory }{ Cost \ of \ goods \ sold } \times 365 \\ \\ \dfrac{= 17,686}{ 168,420} \times 365 \\ \\ = 0.105\times 365 \\ \\= 38.329 \ days$

$\text{Days \ of \ receivable \ outstanding }= \dfrac{Average \ receivable }{ sales }\times 365 \\ \\ \dfrac{= 12,596 }{ 219,320} \times 365 \\ \\ = 0.0574 \times 365 \\ \\= 20.951 \ days$

$\text{Days of payable outstanding} = \dfrac{Average payable}{cost of goods sold} \times 365 \\ \\ = \dfrac{15,313 }{ 168,420} \times 365 \\ \\ = 0.0909 \times 365 \\ \\= 33.1785 days$

$\text{Operating Cycle = Days of inventory outstanding + Days of receivable outstanding} \\ \\ = 38.339 + 20.951 \\ \\ = 59.29 days$

$\text{Cash Conversion Cycle = Operating cycle - Days of payable outstanding} \\ \\ = 59.29 - 33.1785 \\ \\ = 26.1115 days \\ \\$

6 0

2 years ago

What unique things words separate you from other applicants Applying for this funding?

Zolol [24]

Answer:

Having to handle the business side of things while also working on developing a great product wasn't easy, but that challenge helped me grow as a professional. I think a lot of people applying for tech

Explanation:

:D

8 0

3 years ago

"Investment X offers to pay you $5,800 per year for 9 years, whereas Investment Y offers to pay you $8,600 per year for 5 years.

Butoxors [25]

Answer:

Present value of investment X = $41,225.37

Present value of investment Y = $37,233.50

Explanation:

The present value of the cash flows can be found by discounting the cash flows at the discount rate.

This can be found using a financial calculator

Cash flow each year from year 1 to 9 for investment X = $5,800

Discount rate = 5%

Present value = $41,225.37

Cash flow each year from year one to year 5 for investment Y = $8,600

Discount rate = 5%

Present value = $37,233.50

I hope my answer helps you

5 0

3 years ago

Universal Travel, Inc. borrowed $500,000 on November 1, 2021, and signed a twelve-month note bearing interest at 6%. Principal a

Marrrta [24]

Answer:

The interest payable on the loan is $5,000,option C

Explanation:

The interest is the cost incurred by the company for borrowing the $500,000 since no one is willing to part with their cash in loan agreement except that they have something in return.

The company has taken custody amount for 2 months (from November 1 2021 to 31 December 2021),hence it should recognized an interest payable for 2 months,which is computed thus:

interest payable=$500,000*6%*2/12=$5,000

7 0

3 years ago