All categories

2 years ago

Why is the "insurance verification and eligibility" function of accounts receivable management important?

Business

1 answer:

Murrr4er [49]2 years ago

7 0

Answer:

[C] It confirms the patient's insurance plan and eligibility information with the third-party payer to determine the patient's financial responsibility for services rendere

Explanation:

You might be interested in

Super Saver Groceries purchased store equipment for $44,500. Super Saver estimates that at the end of its 10-year service life,

lions [1.4K]

Answer:

1) Using straight line method , depreciation for first year is $4,000

2) Using double declining balance , depreciation for first year is $8,900

3) Using activity based method, depreciation for first year is $5,600

Explanation:

Given:

Cost = $44,500

Useful life = 10 years

Salvage value = $4,500

Useful life in hours = 10,000 hours

Super Saver used the equipment for 1,400 hours the first year.

1) Straight line method

Depreciation for first year = (cost - salvage value) ÷ useful life

= $(44,500 - 4,500) ÷ 10

= $4,000 per year

2) Double declining balance

Depreciation rate = (100 ÷ useful life) × 2

= (100 ÷ 10) × 2

= 20%

Depreciation for first year = $44,500 × 20%

= $8,900

3) Activity based

Rate = cost - salvage value ÷ useful life in hours

= ($44,500 - $4,500) ÷ 10,000

= 4 per hour

Depreciation for first year = 1,400 × 4

= $5,600

4 0

3 years ago

Jahwana works for a large corporation with a 401(k) retirement plan. The company matches dollar for dollar the first 5% of the e

Gre4nikov [31]

Answer:

$8,000

Explanation:

Jahwana earns $40,000:

her 401k contributions = 15% x $40,000 = $6,000

Jahwana's employer contributes $1 per $1 that she contributes but only up to 5%, so her employee's 401k contribution = 5% x $40,000 = $2,000

total annual contribution = $6,000 + $2,000 = $8,000

7 0

3 years ago

Read 2 more answers

On January 1, 20X1, the Moody Company entered into a transaction for 100% of the outstanding common stock of Osorio Company. To

Paha777 [63]

Answer:

B. $1,760

Explanation:

Given that:

Liabilities = $400, shares = 40 shares, par value = $1 per share, undervalued building asset = $60, net building amount = $1260

amount of consolidated buildings (net) at date of acquisition = net amount for buildings + amount of undervalued building asset + $400 + ($1.00 x 40 shares)

amount of consolidated buildings (net) at date of acquisition = $1260 + $60 + $400 + $40 = $1760

3 0

3 years ago

Kohler Corporation reports the following components of stockholdersâ equity on December 31, 2016:

Flauer [41]

Answer:

Explanation:

1. Jan 1

Paid Up Capital (6,000*15) Dr.$ 90,000

Paid in Capital in excess of par value Dr.$30,000

Treasury stock (6,000*20) Cr.$ 120,000

Jan 5. Dividend (55,000-6,0000=49,000*2) Dr.$98,000

Dividend Payable Cr.$98,000

Feb 28. Dividend Payable Dr.$98,000

Bank Cr.$98,000

July 6 Bank (2,250*24) Dr.$54,000

Paid up capital (2,250*15) Cr.$33,750

Paid in capital in excess of par (2250*9) Cr.$20,250

Aug 22 Cash (3,750*17) Dr.$63,750

Paid up capital (3,750*15) Cr.$ 56,250

Paid in capital in excess of par Cr.$7,500

Sept 5. Dividend (49,000+2,250+3,750)*2 Dr.$110,000

Divided Payable Cr.$110,000

Oct 28. Dividend Payable Dr.$110,000

Cash Cr.$110,000

Dec 31 Income Summary Account Dr.$428,000

Retained Earnings cr.$428,000

2.Statement of retained Earnings

Retained Earnings at beginning $460,000

Add; Net income for the year $428,000

Less: Dividends paid(98,000+110,000) ($208,000)

Retained earnings as at December 31,2017 $680,000

3. Stockholders' Equity Section of Balance Sheet

Retained earnings $680,000

Paid Up Capital Outstanding

(825,000-90,000+33,750+56,250) $915,000

Paid in capital in excess of par

(70,000-30,000+20250+7500) $67,750

Total stockholders' equity $1,662,750

4 0

3 years ago

What is the overall change in cash resulting from: $300 increase in inventories, $150 increase in accounts payable, $120 decreas

yan [13]

Answer:

(A). - $ 120

Explanation:

The changes to cash are from the following rules

Increase in assets and decrease in liabilities is a decrease in cash

Decrease in assets and increase in liabilities is and increase in cash

Using the data in the question,

Cash Movement

increase in inventories $ 300 ( $ 300)

Increase in accounts payable $ 150 $ 150

Decrease in accounts receivable $ 120 $ 120

Decrease in other current assets $ 60 $ 60

Decrease in other current liabilities $ 150 <u>($ 150)</u>

Net movement in Cash $ (120)

5 0

3 years ago