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3 years ago

The Affordable Care Act authorizes a number of payment reform demonstrations. Group of answer choices True False

Business

1 answer:

Anvisha [2.4K]3 years ago

3 0

Answer: True

Explanation:

The Affordable Care Act was signed into law in 2010 and it is simply a reform in the healthcare sector and it had to do with the policies that will enable Americans without insurance to enjoy insurance coverage.

The statement that The Affordable Care Act authorizes a number of payment reform demonstrations is true.

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Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $82,000 and $4,500, r

Cerrena [4.2K]

Answer: $10,700

Explanation:

The Uncollectible Account Expense is the Accounting Adjustment made when a Receivable defaults on their debt and it can be calculated using the following formula,

= Uncollectible Amount written off + Closing Balance - Opening Balance.

Now the balances are as follows,

Opening Balance for Year 2 = 4,500

Closing Balance for Year 2 = 6,800

Uncollectible Amount written off during Year 2 = 8,400

Calculating therefore,

= 6,800 + 8,400 - 4,500

= $10,700

Allegheny will report $10,700 as Uncollectible Accounts Expense for Year 2.

3 0

3 years ago

Icy Mocha Company estimates its factory overhead costs to be $35,000 and machine hours to be 5,000 for the year. If the actual h

Vedmedyk [2.9K]

Answer:

$160 overapplied

Explanation:

Icy Mocha company estimates it's factory overhead costs to be $35,000 and machine hours to be 5,000 for a period of one year.

The actual number of hours worked on job 333 and 334 equals a total of 4,980

The actual factory overhead costs are $34,700

The first step is to calculate the predetermined overhead rate

= Overhead costs/machine hours

= $35,000/5,000

= $7

The amount of either over or underapplied factory costs can be calculated as follows

= predetermined overhead rate×actual number of hours worked

= $7×4,980

= $34,860

The amount is then subtracted from the actual overhead costs

= $34,700-$34860

= -$160

= $160 overapplied

Hence the amount of overapplied factory overhead is $160

4 0

3 years ago

Professional skepticism can best be defined as having:

LiRa [457]

Answer:

A. An inquiring mind and suspension of belief is the correct answer.

Explanation:

Professional skepticism is an inquiring mind that includes critical evaluation, questioning, and staying alert to situations that may indicate possible error because of fraud and mismanagement and also an important evaluation of audit data.
The elements of professional skepticism are questioning mind, autonomy, suspension of knowledge,interpersonal judgment, search for information, and self-esteem.

Professional skepticism performs an important role in the audit and we need professional skepticism to maintain an audit of the expectation.

5 0

3 years ago

Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni

Degger [83]

Answer:

510,000 units

Explanation:

Note: The data in the questions are merged together and they are first separated before answering the question as follows:

Beginning Inventory Ending Inventory

Raw material 52,000 62,000

Finished goods 92,000 62,000

The explanation to the answer is as follows:

Beginning inventory of finished goods + Units of finished goods manufactured = Ending inventory of finished goods + Units of finished goods sold

Units of finished goods manufactured = Ending inventory of finished goods + Units of finished goods sold - Beginning inventory of finished goods

Therefore, we have:

Units of finished goods manufactured = 62,000 + 540,000 - 92,000 = 510,000

7 0

3 years ago

Byrd Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under

Ann [662]

Answer:

A. EPS for plan 1 is $1.29 and EPS for plan 2 is $1.15

B. EPS for plan 1 is $2.90 and EPS for plan 2 is $3.53

C. Break even EBIT is $247,380 and EPS = $1.60

Explanation:

EPS = Earnings per share = Earnings before tax (EBT) divided by outstanding common stock.

Plan 1

EPS = 200,000 divided by 155,000 = $1.29 per share.

Plan 2

EPS = (EBIT - interest ) all divided by common stock

EPS = ($200,000 - ($1,330,000 x 6%)) / 105,000

= $1.15 per share

Plan 1

EPS = 450,000 divided by 155,000 = $2.90 per share.

Plan 2

EPS = (EBIT - interest ) all divided by common stock

EPS = ($450,000 - ($1,330,000 x 6%)) / 105,000

= $3.53 per share

Break even EBIT is when

EPS (plan 1) = EPS (plan 2)

If we represent the EBIT with ?

? / 155,000 = (? - ($1,330,000 x 6%)) / 105,000

? = $247,380

EPS = $1.60

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3 years ago