The following selected events and transactions were recorded by Milos.pdf

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The following selected events and transactions were recorded by Milos County Hospital. 1. Gross charges for hospital services, all charged to accounts and notes receivable, were as follows: 2. The hospital cafeteria and gift shop had cash sales of $296 , 500 . 3. Additional information determined subsequently to recording patient service revenues and relating to the current year is as follows 4. A federal cost reimbursement research grant of $362 , 000 was awarded. As of the end of the year, $320 , 000 in expenses related t the grant had been made. 5. Vouchers totaling $1 , 354 , 140 were issued for the following items: 6. Collections of accounts receivable totaled $1 , 171 , 000 . Accounts written off as uncollectible amounted to $13 , 100 . 7. Cash payments on vouchers payable (paid to employers and suppliers) during the year were $1 , 037 , 200 . 8. Supplies of $100 , 970 were issued to nursing services. 9. On December 31 , accrued interest income on investments was $2 , 000 . 0 . Depreciation of buildings and equipment was as follows: 11. On December 31, closing entries were made in the general journal. Required a-1. Prepare journal entries for each of the transactions in accordance with the standards for a governmental health care entity that follows proprietary fund accounting. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the b. Prepare journal entries to record the foregoing transactions, assuming the hospital is a business-type government facility. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet B C D E F D > The hospital has a contractual agreement with a lender requiring that $550 , 000 in cash be set aside to meet its future debt payment. Note: Enter debits before credits..

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The following information is for Henenlotter Inc. for the year ended December 31, 2012. Henenlotter had a cash and cash equivalents balance of $7100 on January 1, 2012. CASH RECEIVED FROM: Customers ? Interest on investments 600 Sale of land (not in use) 1,000 Sale of Henenlotter Inc. common stock 750 Sale of Janis Corp. stock 500 Issuance of debt securities (bonds) 2,000 CASH PAID FOR: Interest on debt 300 Income tax 80 Debt principal reduction 1,500 Purchase of equipment 4,100 Purchase of inventory 1,000 Dividends paid on Henenlotter common stock 200 Operating expenses 400 OTHER DATA Revenue 600 Accounts Receivable (Jan. 1, 2012) 1,200 Accounts Receivable (Dec. 31, 2012) 900 Accounts written off during the year 200 Prepare a Statement of Cash Flows for the year. Use the direct method for the operating activities section. 1. Four different competent accountants independently agree on the amount and method of reporting an economic event. The concept demonstrated is: A. Reliability. B. Comparability. C. Completeness. D. Verifiability. E. All of the above 2. Which of the following best demonstrates the full disclosure principle? A. The multi-step income statement. B. The auditors' report. C. The company's tax return. D. Notes to financial statements. E. None of the above. 3. Disclosure notes to a company's financial statements: A. Are relatively unimportant facts that don't belong in the basic financial statements. B. Document the source of financial statement facts, like literary footnotes. C. Are an integral part of a company's financial statements. D. Are irrelevant facts that are immaterial in amount. E. None of the above. 4. An important argument in support of historical cost information is: A. Relevance. B. Predictive quality for future cash flows. C. Materiality. D. Verifiability. E. All of the above 5. Primecoat Corporation could disseminate its annual financial statements two days earlier if it shifted substantial human resources from other operations to the annual report project. Management decided the value of the earlier report was not worth the added commitment of resources. The concept best demonstrated is: A. Timeliness. B. Materiality. C. Relevance. D. Cost effectiveness. E. All of the above. 6. Mega Loan Company has very stringent credit requirements and, accordingly, has negligible losses from uncollectible accounts. The company's independent accountants did not protest when, contrary to GAAP, the company recorded bad debt expense only when specific accounts were determined to be uncollectible, rather than use an allowance for uncollectible accounts. The concept demonstrated is: A. Comparability. B. Faithful representation. C. Cost effectiveness. D. Materiality. E. Two of the above are correct. 7. Recognizing expected losses immediately, but deferring expected gains, is an example of: A. Materiality. B. Conservatism. C. Cost effectiveness. D. Timeliness. E. All o ...

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H F M A’s I n t r o d u c t i o n t o H o s p i t a l A c c o u n t i n g162 604 Insurance expense 2,300 605 Repairs expense 4,100 606 Rent expense 2,800 607 Depreciation expense 9,400 608 Interest expense 1,400 609 Bad debt expense 11,600 610 Other expenses 7,200 Required: (1) Prepare, in general journal form, the necessary closing entries for the year ended December 31, 20X1. (2) Prepare, in good form, the 20X1 statement of operations for Gatorberg Hospital. P8.3. The following is the preadjusted trial balance of Grandtown Hospital at December 31, 20X1, the end of the hospital’s current fiscal year: Acct. No. Dr. Cr. 101 Cash $ 37,500 102 Temporary investments 30,000 103 Accrued interest receivable -0- 104 Accounts receivable 120,000 105 Allowance for uncollectible accounts $ -0- 106 Inventory 14,000 107 Prepaid insurance 3,600 120 Land 25,000 130 Buildings 250,000 131 Accumulated depreciation—buildings -0- 140 Equipment 140,000 141 Accumulated depreciation—equipment -0- 201 Accounts payable 37,400 203 Accrued interest payable -0- 204 Accrued salaries and wages payable -0- 205 Deferred rental income 2,700 250 Bonds payable 150,000 301 Hospital net assets 395,700 302 Revenue and expense summary -0- 401 Routine services revenue 171,200 402 Ancillary services revenue 110,300 403 Interest income -0- 404 Rental income -0- 406 Other operating revenues 23,500 501 Contractual adjustments 22,700 502 Charity care adjustments 31,100 601 Salaries and wages expense 155,600 C h a p t e r E i g h t : A c c o u n t i n g Cy c l e S u m m a r y 163 602 Supplies expense 33,100 603 Utilities expense 14,900 604 Insurance expense -0- 605 Repairs expense 6,400 607 Depreciation expense -0- 608 Interest expense 4,500 609 Bad debt expense -0- 610 Other expenses 2,400 Totals $890,800 $890,800 The following additional information is available: 1. The temporary investment consists of $30,000 (face value) of 8 percent bonds acquired by the hospital on November 1, 20X1. These bonds pay interest annually on November 1, commencing on November 1, 20X2. 2. Of the December 31, 20X1, accounts receivable, it is estimated that 14 percent will eventually prove uncollectible by reason of (1) charity care, 7 percent; (2) contractual adjustments, 4 percent; and (3) bad debts, 3 percent. 3. A two-year insurance premium of $3,600 was paid in advance by the hospital on January 1, 20X1. 4. The hospital building, which was acquired on January 1, 20X1, has an estimated useful life of 50 years and a 20 percent salvage value. 5. The equipment, which was acquired on January 1, 20X1, has an estimated useful life of 12 years and a $20,000 salvage value. 6. On January 1, 20X1, the hospital issued $150,000 of 20-year, 6 percent bonds at face value. These bonds pay interest semiannu- ally on January 1 and July 1, commencing July 1, 20X1. 7. Unpaid salaries and wages at December 31, 20X1, amounted to $12,300. 8. The hospital received one year’s rent of $2,700 ...

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Directions: Answer the following questions in a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard . Exercises E 1-11 . Two items are omitted from each of the following summaries of balance sheet and income s tatement data for two corporations for the year 2015, Plunkett Co. and Herring Enterprises. Instructions Determine the missing amounts. E 2-9 . Selected transactions from the journal of Kati Tillman, investment broker, are presented below. Instructions a) Post the transactions to T-accounts. b) Prepare a trial balance at August 31, 2015. E 2-11 . Presented below is the ledger for Higgs Co. Instructions a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each. b) Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015. E 3-7. The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. An analysis of the accounts shows the following. 1. The equipment depreciates $400 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest totaling $500 is accrued on the notes payable for the quarter. 4. Supplies on hand total $900. 5. Insurance expires at the rate of $200 per month. Instructions Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense. E 3-11 . A partial adjusted trial balance of Gehring Company at January 31, 2015, shows the following. Instructions Answer the following questions, assuming the year begins January 1. a) If the amount in Supplies Expense is the January 31 adjusting entry, and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1? b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased? c) If $3,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2014? Problems P1-2A. On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred. 1. Paid $2,900 cash for accounts payable due. 2. Collected $1,300 of accounts receivable. 3. Purchased additional equipment for $2,100, paying $800 in cash and the balance on account. 4. Recognized revenue of $7,300, of which $2,500 is collected in cash and the balance is .

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1) Accounting: A. processes data into reports and communicates the data to decision makers. B. is often called the language of business. C. measures business activities. D. is all of the above. 2) Assets include cash, land, and accounts payable. True False 3) A prepaid expense is an asset. True False 4) The primary objective of financial reporting is to provide information A. on the cash flows of the company. B. to the federal government. C. useful for making investment and credit decisions. D. about the profitability of the enterprise. 5) Each transaction has either an equal effect on both the left - and right- sides of the accounting equation, or an offsetting effect (both positive and negative) on the same side of the equation. True False 6) During February, assets increased by $ 87,000 and liabilities increased by $ 31,000. Stockholders' equity must have A. increased by $ 56,000. B. decreased by $ 56,000. C. increased by $ 118,000. D. decreased by $ 118,000 7) Thompson Instruments had retained earnings of $ 340,000 at December 31, 2015. Net income for 2016 totaled $ 185,000, and dividends for 2016 were $ 85,000. How much retained earnings should Thompson report at December 31, 2016? A. $ 425,000 B. $ 340,000 C. $ 525,000 D. $ 440,000 8) Purchasing a laptop computer on account will A. increase total assets. B. have no effect on stockholders' equity. C. increase total liabilities. D. All of the listed choices are correct. 9) Performing a service on account will A. increase total assets. B. increase stockholders' equity. C. increase total liabilities. D. accomplish both a and b. 10) Receiving cash from a customer on account will A. decrease liabilities. B. have no effect on total assets. C. increase stockholders' equity. D. increase total assets. 11) Which of the following is not an asset account? A. Salary Expense B. Common Stock C. Service Revenue D. None of the listed accounts is an asset. 12) The journal entry to record the purchase of supplies on account A. debits Supplies Expense and credits Supplies. B. credits Supplies and debits Cash. C. credits Supplies and debits Accounts Payable. D. debits Supplies and credits Accounts Payable. 13) On January 1 of the current year, Bambi Company paid $ 1,500 in rent to cover six months (January long dash June). Bambi recorded this transaction as follows: Journal Entry Date Accounts Debit Credit Jan 1 Prepaid Rent 1,500 Cash 1,500 Bambi adjusts the accounts at the end of each month. Based on these facts, the adjusting entry at the end of January should include A. a debit to Prepaid Rent for $ 1,250. B. a credit to Prepaid Rent for $ 250. C. a debit to Prepaid Rent for $ 250. D. a credit to Prepaid Rent for $ 1,250. 14) On January 1 of the current year, Bamber Company paid $ 1,500 in rent to cover six months (January - June). Bamber recorded this transaction as follows: Journal Entry Date Accounts Debit Credit Jan 1 Prepaid Rent 1,500 Cash 1,5.

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The gross earnings of factory workers for Oriole Company during the month of January are $422 , 400.01 the total factorylabor cost. 75% is attributable to direct labor and 25% is attributable to indirect labor. (a) Use the grid below to record the factory labor costs for the month of January. Use the grid below to record the assignment of factory labor to production. (Enter negative amounts using either a negative sign preceding the number e.8. 45 or parentheses e.g. (45).).

The gross earnings of factory workers for Oriole Company during the mo.pdf

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The KwaZulu-Natal Provincial Department has embarked on a multi-million-dollar Transport Rehabilitation Initiative (TRI). The initiative has been identified as one that will ensure that the transportation networks and systems of the province will be categorized as being world-class by year 2020. This will however include a series of projects that will encompass the construction of bridges, dual carriageways, railway networks, ports and airports. One of the first projects that will be carried out under the initiative will be the expansion of the Durban Port, this is aimed at increasing its current holding capacity and overall operational efficiency. The KwaZulu-Natal MEC of Transport has indicated that the success of TRI heavily depends on the efficient management of the different projects of the initiative. You have been tasked to be the principal project manager of the project involving the expansion of the Durban International Port. Part of your responsibility will be to ensure that the project is properly managed to the expectations of the MEC and other active stakeholders. Having taken the responsibility of being the principal project manager, state and explain the main limiting factors (constraints) that you will have to properly manage and deal with, in delivering and performing this project. MUST BE 25 POINTS EXPLAINED.

The KwaZulu-Natal Provincial Department has embarked on a multi-millio.pdf

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The KwaZulu-Natal Provincial Department has embarked on a multi-million-dollar Transport Rehabilitation Initiative (TRI). The initiative has been identified as one that will ensure that the transportation networks and systems of the province will be categorized as being world-class by year 2020. This will however include a series of projects that will encompass the construction of bridges, dual carriageways, railway networks, ports and airports. One of the first projects that will be carried out under the initiative will be the expansion of the Durban Port, this is aimed at increasing its current holding capacity and overall operational efficiency. The KwaZulu-Natal MEC of Transport has indicated that the success of TRI heavily depends on the efficient management of the different projects of the initiative. You have been tasked to be the principal project manager of the project involving the expansion of the Durban International Port. Part of your responsibility will be to ensure that the project is properly managed to the expectations of the MEC and other active stakeholders. The MEC has requested that you provide a detailed report outlining the sequence of steps, phases and/ - or processes that will be followed during managing and delivering the Durban Port Expansion project. The report should include detailed explanations on what activities and actions will be performed during each project life cycle process..

The KwaZulu-Natal Provincial Department has embarked on a multi-millio (1).pdf

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The key to franchising is A- concentrate on local marketing B-rapid e.pdf

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The IRS is most likely to disallow an acquisition if it- Multiple Choi.pdf

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The International Monetary Fund often requires low- or middle-income nations to sell off basic services that they own including water systems, sanitation systems, and electricity grids, to multinational corporations. This condition of a structural adjustment loan is / are known as: a. Labor flexibility b. Paying less than a nation's minimum wage c. Corporate tax breaks d. User fees e. Privatization.

The International Monetary Fund often requires low- or middle-income n.pdf

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The IRS was interested in the number of individual tax forms prepared by small accounting firms. The IRS randomly sampled 42 public accounting firms with 10 or fewer employees in the Dallas-Fort Worth area. The following frequency table reports the results of the study. Estimate the mean and the standard deviation. (Round squared deviations to nearest whole number and final answers to 2 decimal places.).

The IRS was interested in the number of individual tax forms prepared.pdf

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The information below relates to the Cash account in the ledger of Sheridan Company. The September bank statement shows a balance of $17 , 022 on September 30 and the following memoranda. At September 30 , deposits in transit were $4 , 750 , and outstanding checks totaled $2 , 683 . Prepare the bank reconciliation at September 30. (List items that increase cash balance first.) Prepare the adjusting entries at September 30 , assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually.).

The information below relates to the Cash account in the ledger of She.pdf

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The increased access to internet and improved bandwidth speed across t.pdf

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The importance of Net Present Value (NPV) and Internal Rate of return.pdf

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The image below is a cross-section of an area in nertheen New Mexico where two dikes cut across numerous sedimentary ecck formations. The dikes are composed of ineous rocks that contain at very imally but sighilicant amount of radiosctive isotope x . 5. Use your knowledge of relative datirg and the principles of geolosy to place each of the following geologic units and events in order from oldest (Event 1) to the youngest (Event -) Deposition of Beds 1 thraugh 4 Formation of Schist Deposition of Beds 10 through 13 Intrusion of Dike A Deposition of Beds 5 through 9 Intrusion of Dike B Erocion Event 1 Uplift and tilting of Beds 5 through 9 Erosion Event 2 Uplift and Titines Fold ing of Schist and Hed Erosion Event 3 1 4 Order the 12 events here: a. B. b. h. c. i. d. j. e. k. f. I. Page 6 of 8 The image below is a radioactive decay curve for the radiosctive isotope X present in the schist and in dikes A and B . The x -aris is the age of the isotope in millions of years and the y -axis is the percentage of parent lsotope X remaining. Use this decay curve to answer the following questions about the geotogic cross section you just analyce. 6. The date of metamorphism of the schist is million years ago. 7. The date of the intrusion of Dike A it 8. The date of the intrusion of Dike B is frillion years ago. 9. Based on the radioactive decay curve, the half-ife of radioactive isotope X is years..

The image below is a cross-section of an area in nertheen New Mexico w.pdf

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The inclusion of epicycles into planetary models was a violation of wh.pdf

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The human immunodeficiency virus (HIV) causes AIDS by attacking cytoto.pdf

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The Gross Domestic Product per capita in China (a middle income countr.pdf

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The group archaeplastida includes plants- charophytes- chlorophytes- a.pdf

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The graph below was generated from data collected by Conner and Hall (2004) in which the mid-aren't tarsus length of parent tree swallows was measured, as was their offsprings' mean tarsus length in different families of birds. 1) interpret the data in a general sense (i.e., look at the graph and describe what is means in your own words). include any patterns and direction of patterns that you see. 2) interpret the data in a more technical sense that defines h 2 and phenotypic variance..

The graph below was generated from data collected by Conner and Hall (.pdf

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The Framers attempted to restrain the president in their commander-in-.pdf

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The following is the adjusted trial balance of Wilson Trucking Company.pdf

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The Fourth Crusade write one to two paragraphs on this Explain how thi.pdf

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The following partial balance sheet ( $ in thousands) for Paisano Seaf.pdf

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