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Lisa [10]
3 years ago
13

Benefit payments made on a ____________ basis are not scheduled, but are based on the average fee charged by all doctors in a gi

ven geographical area.
Business
1 answer:
Ugo [173]3 years ago
3 0

Answer:

Benefit payments made on a usual, customary and reasonable (UCR) basis are not scheduled, but are based on the average fee charged by all doctors in a given geographical area.

Explanation:

Benefit payments can be described as a government payment to specific people in the society who are disadvantaged in one way or the other. Benefit payments can be made to the; unemployed, people with children, the aged, people who are ill and even the poor. Benefit payments is a practice that is anchored in law that aims at protecting the economically vulnerable in the society. There are different types of benefit payments that exist. In this particular question, we will consider UCR payments.

The UCR payments falls under the health and welfare plans, and can be defined as benefit payments that are not scheduled  but are based on the average fee charged by all doctors in a given geographical area. A benefit payment that is not scheduled means that it doesn't have a specific amount attached to it, but depends on the location. This is because health services charges vary from one geographical position to the next. One can be offered different medical charges in different locations due to a distinction in geographical area. The same geographical areas however, have an average amount of fee that is specific to that area. In benefit payments, this average amount is what is often payed to the beneficiary.

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Rizio Co. purchases a machine for $12,500, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took
ollegr [7]

Answer:

Cost recorded for this machine = $14,240

Explanation:

Particulars                                       Amount

Invoice Price                                   $12,500

Less: Cash Discount                       <u>$250</u> (12,500*2%)

Net Purchase Price                        $12,250

Add: Transportation Costs             $360

Add: Power Connections               $895

Add: Assemble Cost                       $475

Add: Material used                   $40

Add: Repair                                      $180

Add: Material used in adjusting      <u>$40      </u>

Amount to be capitalized              <u>$14,240 </u>

Note: <em>The repair cost is included because it is incurred before machine is put in operation.</em>

6 0
3 years ago
Cusic Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $26,400
Sav [38]

Answer:

The correct answer is = $64,409,960

However, if we assume there are no Differed Tax, the answer will be

$47,371, 400

Explanation:

OCF stands for Operating Cash Flow.

The basic formula for Operation Cash Flow is =

Net Income + Non-Cash Expenses - Increase in working capital

Net Income:

Old Boards = 1,520 x 24,900 = $37,848,000

New Boards = 1500 x 26,400 = $39,600,000

Total Income = $77,448,000

Non-Cash Expenses:

Depreciation = 1.875 million + 2.9 million = $4,775,000

(Assumption) Differed income tax = 22% of Sales  = $17,038,560

Total Non-Cash Expense = $21,813,560

Increase in working Capital:

45% of Sales

i.e. $34,851,600

Hence:

77,448,000 + 21,81 3,560- 34,851,600

= $64,409,960

3 0
3 years ago
Which of the following is an example of a middle manager?
densk [106]

Answer:

General manager ,branch manager and department manager is the Wright answer.

4 0
3 years ago
Given the following information, determine the cost of goods sold at December 31 using the LIFO periodic inventory method:
Nikolay [14]

Answer:

COGS= $297

Explanation:

Giving the following information:

December 2: 5 units were purchased at $7 per unit.

December 9: 10 units were purchased at $9.40 per unit.

December 11: 12 units were sold at $35 per unit.

December 15: 20 units were purchased at $10.15 per unit.

December 22: 18 units were sold at $35 per unit.

<u>First, we need to calculate the number of units sold:</u>

Number of units sold= 12 + 18= 30

Now, under the LIFO (last-in, first-out) method, the cost of goods sold is calculated using the cost of <u>the lasts units incorporated into inventory</u>:

COGS= 20*10.15 + 10*9.4

COGS= $297

5 0
3 years ago
Holloway Company earned $6,800 of service revenue on account during Year 1. The company collected $5,780 cash from accounts rece
sergiy2304 [10]
  • The balance of funds due to a company for goods or services supplied or employed but not yet paid for by customers is the account accounts receivable, that is the account.
  • The net income is the amount that you get each month from your check instead of the gross amount paid before deductions for payrolls.
  • Operating cash flows are a part of a corporate cash flow statement explaining the sources and use of cash from ongoing business activities over a certain period.
  • Retained income (RE) is indeed the net income remaining to the company after it has paid dividends to its shareholders.

The further discussion can be defined as follows:

  • For point A:

                  Calculated to use this formulation is the account receivable

                    reported on the balance sheets

        Using formula:

Admissible Accounts

  • For point B:

                 The reported net income is revenue from services of \$18,000

  • For point C:

                 The reported net cash flow from operations is \$14,000 in

                  cash from accounts receivables in 1 year.

  • For point D:

                 Reclaimed revenues are \$18,000 representing the amount of net

                  income transferred to the retained income account.

So, the final answer is "$4,000,  $18,000, $14,000, and $18,000".

Learn more:

brainly.com/question/24561227

5 0
3 years ago
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