Compare and contrast the three most common types of healthcare indemnity plans.

Carson Company began operations on February 1, 2016, and experienced the following events during the year: 1. Earned $150,000 of

Nikolay [14]

Answer:

What is Carson Company's net realizable value of the accounts receivable at the end of 2016?

Dr Accounts receivable $ 22,000

Explanation:

1. Earned $150,000 of revenue on account

Dr Accounts receivable $ 150,000

Cr Sales $ 150,000

2. Collected $125,000 cash from accounts receivable

Dr CASH $ 125,000

Cr Accounts receivable $ 125,000

Adjusted the accounting records to reflect management's belief that $3,000 of the accounts receivable balance would be uncollectible.

Dr Bad Debt Expense $ 3,000

Cr Allowance for Uncollectible Accounts $ 3,000

What is Carson Company's net realizable value of the accounts receivable at the end of 2016?

Dr Accounts receivable $ 22.000

The net realizable value of the accounts have to consider the estimated value that would be uncollectible, this case :

$150,000 Credit Sales

-$125,000 Cash from Accounts Receivable

-$ 3,000 Accounts Receivable balance that would be uncollectible.

===========

$ 22,000 ==> Net realizable value of the accounts receivable

6 0

3 years ago

On November 3, the spot price for cotton was $0.81/lb., and the February futures price was $0.83/lb. On November 3, Levi Strauss

bezimeni [28]

Answer:

C : $3,000,000

Explanation:

The Levi Strauss has sold futures at the price of $0.83/lb. The spot price for cotton is $0.81/lb. The difference between spot and exchange price is 0.02/lb ($0.83/lb - $0.81/lb). On November 30, The future prices of cotton raised to 0.85/lb. The average spot of the inventory when purchased was 0.58/lb. To record the inventory in balance sheet we will use average spot plus difference of spot and exchange price $0.58/lb + $0.02/lb = $0.60/lb. The total amount which will be reported in balance sheet will be 200 futures contacts * 25,000lbs * $060/lb = $3,000,000.

4 0

3 years ago

Linda's health insurance plan requires that she have a physician that manages all of her healthcare. Linda, most likely, has wha

xxMikexx [17]

Linda has a Health Maintenance Organization (HMO) insurance plan.

Further Explanation:

Health Insurance plan:

Health insurance plan is a type of insurance plan where the insured party gets the coverage for the medical expenses incurred. Health insurance plan would reimburse for the medical treatment that is recorded in the contract between the insurance company and the insured party.

Health Maintenance Organization (HMO):

Health Maintenance Organization provides health plans to the individuals. HMO is a private or public organization that renders health services to its user or subscribers. Subscribers are the individuals who opt for HMO as a health insurance plan. HMO does not provide the health services directly to the user or subscribers. HMO provides the services through various medical insurance provider entities such as doctor, physician, specialist and clinic facility.

HMO subscribers pay periodic (Monthly, quarterly or yearly) premium to HMO. HMO pays the medical entities that are connected to it for providing the services to the individuals. It promotes the higher quality of health treatment for a lower premium.

HMO subscribers pay their periodic premium and get the medical services from the medical entities. The medical entities manage all the healthcare of the subscribers. HMO subscribers can take the medical services only from the contracted medical entities. An HMO subscriber chooses a primary care physician. HMO subscriber can seek medical assistance from the appointed primary care physician only. This physician manages all the healthcare services of the individual.

Linda’s insurance plan:

In the given case, Linda’s insurance plan requires her physician to manage all her health care.

Linda has a Health Maintenance Organization (HMO) health insurance plan. HMO states that the physician provided by the HMO would manage all the activities related to healthcare. The physician is a medical entity that has a contract with HMO to provide the medical assistance to the subscriber of the HMO insurance plan. HMO pays them to assist the subscribers and they manage all the healthcare of the subscribers.

<u>So the current insurance plan is a Health Maintenance Organization (HMO).</u>

Learn more:

1. Learn more about the percentage of costs method brainly.com/question/12960656

2. Learn more about the manufacturing cost brainly.com/question/10570313

3. Learn more about the cost allocation brainly.com/question/12960164

Answer details:

Grade: Senior School

Subject: Business Law

Chapter: Insurance

Keywords: Linda, Insurance plan, Healthcare, Physician, Health insurance, Insurance, Health Maintenance Organization, HMO, Insurance, Health insurance plan, Business law, Type of insurance plan.

8 0

3 years ago

Read 2 more answers

When picking an order at Amazon what should I do with perfume

xxMikexx [17]

Ummm i don’t think i understand the question

5 0

3 years ago

Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Understock.com. Though Ken is retired, he is

elena-s [515]

Answer: $‭46,950‬

Explanation:

a. All sources of income should be included including illegal ones.

b. Gain = 1,000 (32 - 31)

= $1,000

c. Gain = Amount received - Amount paid apportioned per year

= 25,000 - (210,000/20)

= 25,000 - 10,500

= $14,500

d. Not included as disability benefits are not included.

e. The $300 is deductible but the $200 that went towards car payment is not.

f. Taxation principles require that the person taxed should be the person earning the income so Ken will not be charged on the $1,100

g. The relevant figure here is the tax benefit before the $610 refund.

Ken claimed $6,250 in itemized deduction but the standard deduction is $6,200. Ken gained;

= 6,250 - 6,2000

= $50

h. The $30,000 is included as Ken earned it.

Gross Income = 1,200 + 1,000 + 14,500 + 200 + 50 + 30,000

= $‭46,950‬

3 0

3 years ago