2014 Health Savings Accounts (HSA) Exam - Scenario 4- Carlos and Julie.docx
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2014 Health Savings Accounts (HSA) Exam - Scenario 4: Carlos and Julie Martin Interview Notes Carlos, age 45, and Julie, age 41, are married and will file a joint return. They have two children, Andrea and Roberto, whom they will claim as dependents on their joint return. Julie\'s cousin, Sergio (age 32), came to live with them in August 2014. Sergio\'s gross income was $4,000. Julie and Carlos did not provide over one-half of Sergio\'s support for the year but did pay $700 of Sergio\'s medical bills in October 2014. Carlos was enrolled all of 2014 in an HDHP with family coverage. Carlos has had an HSA for five years. He has no other health insurance and is not eligible for Medicare. In 2014, Carlos made regular contributions to his HSA totaling $3,000. In 2014, Carlos took $1,500 from his HSA to pay the following medical expenses: $200 for over-the-counter allergy medicine for their daughter, Andrea (no prescription from doctor) $375 for Roberto\'s physical therapy sessions. $300 to purchase Julie\'s contact lenses (needed for medical reasons) $625 for long-term care insurance for Carlos Carlos, Julie, Andrea, Roberto, and cousin Sergio are all U.S. citizens and have valid social security numbers. 11. On his Form 8889, Carlos can include the $375 paid for Roberto Solution Answer: True .
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According to the California Department of Health Care Services (DHHS) Medi-Cal qualification website, a family of two can qualify for Medi-Cal if their annual income is below 138% of the federal poverty level which is $22,108 (California Department of Health Care Services, 2016). An individual can also qualify for Medi-Cal if they are: 65 or older; blind; disabled; under 21; pregnant; in a skilled nursing or intermediate care home; on refugee status for a limited time, depending on how long they have been in the United States; breast cancer cervical cancer patients who qualify under the Breast and Cervical Cancer Treatment Program (California Department of Health Care Services, 2016); and/or a parent or caretaker relative of a child under 21 if the child's parent is deceased or doesn't live with the child, or the child's parent is incapacitated, or the child's parent is under employed or unemployed. Medi-Cal is also available to individuals who are enrolled in CalFresh, SSI/SSP, CalWorks (AFDC), Refugee Assistance, and/or the Foster Care or Adoption Assistance Program.
Applications for Medi-Cal can be made on the Covered California website (Covered California, 2016). Applications may also be filed in person at local county human services agencies (California Department of Health Care Services, 2016). Covered California gives a description of who’s eligible for Medi-Cal on their website that concisely summarizes the verbiage on the DHHS site: “Medi-Cal covers low-income adults, families with children, seniors, persons with disabilities, children in foster care as well as former foster youth up to age 26, and pregnant women” (Covered California, 2016).
According to California Health Advocates, the male spouse in the case would be considered for Medi-Cal under the Medi-Cal for individuals with Medicare program known as “dual eligibles” or “Medi-Medis” because he is 72 years of age (California Health Advocates, 2016). For a couple, the asset limitation is $3000 excluding the primary home, one vehicle, household goods and personal belongings, a life-insurance policy with a face value of $1,500 per person, a prepaid burial plan (unlimited if irrevocable or up to $1,500 if revocable) and burial plot. Various Medi-Cal programs are available to Medicare eligible individuals as shown in the table below from California Health Advocates (California Health Advocates, 2016).
Medi-Cal Programs – Qualification at a Glance
(Asset limits are the same for all programs: Single: $2,000; Couple: $3,000)
Program / Requirements
Your Monthly Income
Supplemental Security Income (SSI)
· 65 or older, blind or disabled
Single: up to $889.40/mo.
Couple: up to $1,496.20/mo.
Note: Higher income levels apply for individuals who are blind.
Aged & Disabled Federal Poverty Level (A&D FPL) Program
· 65 or older, blind or disabled
Single: up to $1,220/mo.
Couple: up to $1,645/mo.
Medi-Cal with a Share of Cost (SOC)
· 65 or older, blind or disabled
Single: over $1 ...
S-4606
This document summarizes information about Settlers Life Insurance Company, including its history, financial strength, and the life insurance policies it offers. Settlers Life has been in business since 1933 and has over $400 million in assets. It has an A- rating from A.M. Best, indicating an excellent ability to meet obligations. The company focuses on paying claims, having paid over $323 million in claims since 2000. It offers whole life insurance policies for up to $50,000 that provide coverage from ages 15 days to 85 years with premiums that will never increase and coverage that will never decrease.
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Australia vs usa
This document compares the healthcare systems of Australia and the United States. In the US, 49% of coverage comes from employers, while 16% of Americans are uninsured. Australia provides universal healthcare coverage through Medicare. While both countries face rising costs due to aging populations, Australia spends half the percentage of GDP on healthcare as the US and has no uninsured citizens.
4) What is the Reynolds number- Give an equation but also an explanati.docx
4) What is the Reynolds number? Give an equation but also an explanation of what is being compared. Give two situations where the Reynolds number is used
Solution
The Reynolds number (Re) is a dimensionless number related to fluid mechanics. It is among the most important attributes used for summarizing the forces acting on a fluid and, based on its value, the turbulence or lack of turbulence of a fluid is determined. The designation is named for Osborne Reynolds, who made many pioneering studies in fluid mechanics in the late 19th and early 20th centuries. The variations in the quantity are laid out on the X-axis of the Moody Chart, one of the more useful graphs in fluid mechanics.
More specifically, the Reynolds number is defined as the ratio of inertial forces, which contribute to turbulence, to viscous forces, which act against turbulence, within a fluid. Put another way, the number describes how likely flow is to be laminar or turbulent for a given set of physical conditions. Laminar, or smooth, flow indicates that everything in the flow of a fluid is moving in the same direction and these internal flows do not affect one another. Turbulent flow, on the other hand, indicates that disruptions or eddies are created within the main flow.
The most common example of laminar and turbulent flow can be found at a sink. When the water is first turned on and is not flowing very fast, it is clear. Most of the internal flows of the water do not interact with one another and move in the same direction; this is laminar flow and indicates a low Reynolds number. As the amount and speed of the water increases, it turns white. The internal flows begin to collide with one another in a turbulent flow, introducing air into the water stream.
Another example of the concept is to imagine an object moving through a fluid. The faster the object moves, the denser the liquid, and the more time the object moves, the more likely the fluid flow is to be turbulent. The more viscous or sticky a fluid is, the greater the chance the fluid
.
3- After water vapor- CO2 is the next most important atmospheric trace.docx
3. After water vapor, CO2 is the next most important atmospheric trace gas which has both natural and anthropogenic sources.
a.) What are the dominant natural and anthropogenic sources of CO2?
b.) What is the current level of CO2 in the atmosphere (in ppmV and in % vol)?
c.) What is the average annual rate of the CO2 increase? Also, why does the atmospheric CO2concentration show a seasonal variability?
Solution
Answer :
3.
(a) There are two primary sources of CO 2 :
(i) Natural CO 2 sources : These sources include animal and plant respiration, decomposition of organic matter, forest fire and emissions from volcanic eruption.
(ii) Anthropogenic (man-made) CO 2 sources : These sources are those produced from power generation, transportation, industrial sources, chemical production, petroleum production and agricultural practices.
(b) Current level of CO 2 in atmosphere = 0.041% by volume of the atmosphere = 410 ppmV (Source : National Oceanic and Atmospheric Administration)
(c) Annual rate of CO 2 = 3 ppm (Source : National Oceanic and Atmospheric Administration)
Seasonal variability in atmospheric CO 2 concentration : Levels of carbon dioxide in the atmosphere rise and fall each year as plants, through photosynthesis and respiration, take up the gas in spring and summer, and release it in fall and winter. The respiration of plants is not evenly distributed through seasons since the northern and southern hemisphere have a different amount of land and plants. The southern hemisphere has far less land. In the northern winter, the carbon released increases and then by May the northern hemisphere has enough carbon uptake (due to increased photosynthesis) to cause a dip in the CO 2 record. Then summer in the north ends and autumn commences, and net CO 2 starts to rise again.
.
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According to California Health Advocates, the male spouse in the case would be considered for Medi-Cal under the Medi-Cal for individuals with Medicare program known as “dual eligibles” or “Medi-Medis” because he is 72 years of age (California Health Advocates, 2016). For a couple, the asset limitation is $3000 excluding the primary home, one vehicle, household goods and personal belongings, a life-insurance policy with a face value of $1,500 per person, a prepaid burial plan (unlimited if irrevocable or up to $1,500 if revocable) and burial plot. Various Medi-Cal programs are available to Medicare eligible individuals as shown in the table below from California Health Advocates (California Health Advocates, 2016).
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4) What is the Reynolds number? Give an equation but also an explanation of what is being compared. Give two situations where the Reynolds number is used
Solution
The Reynolds number (Re) is a dimensionless number related to fluid mechanics. It is among the most important attributes used for summarizing the forces acting on a fluid and, based on its value, the turbulence or lack of turbulence of a fluid is determined. The designation is named for Osborne Reynolds, who made many pioneering studies in fluid mechanics in the late 19th and early 20th centuries. The variations in the quantity are laid out on the X-axis of the Moody Chart, one of the more useful graphs in fluid mechanics.
More specifically, the Reynolds number is defined as the ratio of inertial forces, which contribute to turbulence, to viscous forces, which act against turbulence, within a fluid. Put another way, the number describes how likely flow is to be laminar or turbulent for a given set of physical conditions. Laminar, or smooth, flow indicates that everything in the flow of a fluid is moving in the same direction and these internal flows do not affect one another. Turbulent flow, on the other hand, indicates that disruptions or eddies are created within the main flow.
The most common example of laminar and turbulent flow can be found at a sink. When the water is first turned on and is not flowing very fast, it is clear. Most of the internal flows of the water do not interact with one another and move in the same direction; this is laminar flow and indicates a low Reynolds number. As the amount and speed of the water increases, it turns white. The internal flows begin to collide with one another in a turbulent flow, introducing air into the water stream.
Another example of the concept is to imagine an object moving through a fluid. The faster the object moves, the denser the liquid, and the more time the object moves, the more likely the fluid flow is to be turbulent. The more viscous or sticky a fluid is, the greater the chance the fluid
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3. After water vapor, CO2 is the next most important atmospheric trace gas which has both natural and anthropogenic sources.
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b.) What is the current level of CO2 in the atmosphere (in ppmV and in % vol)?
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Solution
Answer :
3.
(a) There are two primary sources of CO 2 :
(i) Natural CO 2 sources : These sources include animal and plant respiration, decomposition of organic matter, forest fire and emissions from volcanic eruption.
(ii) Anthropogenic (man-made) CO 2 sources : These sources are those produced from power generation, transportation, industrial sources, chemical production, petroleum production and agricultural practices.
(b) Current level of CO 2 in atmosphere = 0.041% by volume of the atmosphere = 410 ppmV (Source : National Oceanic and Atmospheric Administration)
(c) Annual rate of CO 2 = 3 ppm (Source : National Oceanic and Atmospheric Administration)
Seasonal variability in atmospheric CO 2 concentration : Levels of carbon dioxide in the atmosphere rise and fall each year as plants, through photosynthesis and respiration, take up the gas in spring and summer, and release it in fall and winter. The respiration of plants is not evenly distributed through seasons since the northern and southern hemisphere have a different amount of land and plants. The southern hemisphere has far less land. In the northern winter, the carbon released increases and then by May the northern hemisphere has enough carbon uptake (due to increased photosynthesis) to cause a dip in the CO 2 record. Then summer in the north ends and autumn commences, and net CO 2 starts to rise again.
.
2014 2013 LINK TO TEXT LINK TO TEXT The following account b.docx
2014
2013
LINK TO TEXT
LINK TO TEXT
Solution
Net Income
Net Income = Ending Retained Earnings + Stock Dividend + Cash Dividend– Beginning Retained Earnings
= 301,770 +10,790 +15,010 -263,710
= 63,860
Outflows or inflows
Common stock = Ending common stock –Beginning common stock – Stock dividend
= 167,740 -144,590 -10,790
= 12,360 inflow
Dividend = 15,010 outflow
Classification in the cash flow statement
Common stock = Financing activity
Dividends = Financing activity
.
2- There are 3 mechanisms of heat transfer and all are important in ma.docx
2. There are 3 mechanisms of heat transfer and all are important in ma intaining normal body temperature. Give a good definition of each transfer method and explain how it is related to temperature regulation in mammals.
Solution
There are three mechanisms by which heat (energy) is transferred.They are
- Conduction
- Convection
- Radiation
Conduction:
Heat transfer through molecular motion.By conduction ,the transfer of energy from matter to adjacent matter by direct contact, without intermixing or flow of any material.
Convection:
Transfer of heat through mass movement of a substance.By convection ,the transfer of energy by the bulk mixing of clumps of material. In natural convection, it is the difference in density of hot and cold fluid which causes the mixing.
Radiation:
The transfer of heat through electromagnetic waves.By radiation such as light, infrared, ultraviolet and radio waves which emanate from a hot body and are absorbed by a cooler body.
Temperature regulation in mammals:
Humans and other mammals are homeothermic, able to maintain a relatively constant body temperature despite widely ranging environmental temperatures.
Conduction, Convection and Radiation can cause both heat loss and heat gain to the body, Evaporation is a mechanism of heat loss only, in which a liquid is converted to a gas. Perspiration evaporating off the skin is an example of this heat loss mechanism.
When the body is too hot, it decreases heat production and increases heat loss. One way of increasing heat loss is through peripheral vasodilation, the dilation of blood vessels in the skin. When these vessels dilate, large quantities of warmed blood from the core of the body are carried to the skin, where heat loss may occur via radiation, convection, and conduction. Evaporation of fluids from the body also causes heat loss. Humans constantly lose fluids from the skin and in exhaled air. The unconscious loss of fluid is called insensible perspiration.
.
2- Marvin Services Corporation had the following accounts and balances.docx
2.   Marvin Services Corporation had the following accounts and balances:
Accounts payable
$12,000
Equipment
$14,000
Accounts receivable
2,000
Land
14,000
Buildings
34,000
Unearned service revenue
4,000
Cash
6,000
Total stockholders\' equity
?
Calculate the total of liabilities and stockholders\' equity.
Solution
Total Asset = Accounts receivable + Buildings + Cash + Equipment + Land
Total Asset = 2000 + 34000 + 6000 + 14000 + 14000
Total Asset = $ 70000
Current Liabilty = Accounts payable + Unearned service revenue
Current Liabilty = 12000 + 4000
Current Liabilty = 16000
Total of liabilities and stockholders\' equity = Total Asset
Total of liabilities and stockholders\' equity = $ 70000
Total of Long term liabilities and stockholders\' equity = Total Asset - Current Liabilty
Total of Long term liabilities and stockholders\' equity = 70000- 16000
Total of Long term liabilities and stockholders\' equity = $ 54000
.
2- The following are types of organisms- A- bacteria- B- fungi- C- alg.docx
2. The following are types of organisms: A. bacteria; B. fungi; C. algae; D. macrophyte (plants) E. Protozoa; F. Multi-cellular animals a) Complete the table with the corresponding organisms responsible for each function. You may use more than one choice per function. (12) Function Photosynthesis Treating wastewater Anaerobic digestion Mold Type of organisms b) The Tempe Town Lake, like a lot of water bodies (e.g. Lake Erie), has green water. What causes the color? What are the nutrients (elements) behind this phenomenon? (8)
Solution
Answer
2, (a) Photosynthesis - Macrophyte( plants) , Algae
Treating waste water - Bacteria
Anerobic digestion - Fungi, protozoa
Mold - Fungi
b) Lake color can tell you many things about the water body (e.g., including nutrient load, algal growth, and water quality) and also about the surrounding landscape.Green water lakes commonly have high concentrations of chlorophyll-containing algae which can give water a green color. That is Algae which gets formed on stagnant water. Algae needs nutrients, sunlight and water to form. A high concentration of Algae indicates water is rich in nutrients primarily phosphorus.
Green lakes are often eutrophic and typically contain more harmful algal blooms than other types of lakes. Activities such as farming or septic system failure can increase the green color of lakes through nutrient inputs which act as a fertilizer for algae. The high productivity of green lakes usually enables them to support more fish, but the poor water quality conditions can depress dissolved oxygen levels in hot summer months; these conditions can cause fish kills where oxygen drops too low for fish to survive.( Algal overgrowth due to eutrophication - caused by fertilizer runoff from fields and lawns.)
Nutrients causing eutrophication
The most common nutrients causing eutrophication are nitrogen and phosphorus . The main source of nitrogen pollutants is run-off from agricultural land, whereas most phosphorus pollution comes from households and industry, including phosphorus-based detergents. These nutrients enter aquatic ecosystems via the air, surface water or groundwater. Most of the commercially fixed nitrogen and mined phosphorus goes into production of fertilizer. The rising demand for fertilizer has come from the need to meet the nutritional demands of our rapidly expanding human population.
.
18- Ray was chosen by his boss to lead a team of coworkers during a co.docx
18. Ray was chosen by his boss to lead a team of coworkers during a companywide project. Ray spent a lot of time getting to know each of is individual team members and fostering intergroup relationships. Throughout the project, the people Ray\'s team developed a deep sense of unity and relatedness to one another. Which characteristic of leadership best describes Ray\'s methods? A) Conceptualization B) Building community C) Stewardship D) Awareness 19. The intrapersonal definition of authentic leadership states that leadership A) Is not a trait but a skill that can be learned. B) Is a transactional process between leaders and followers. C) Allows followers to affect leaders. D) Grows out of the life story of the leader. 20. The developmental definition of authentic leadership states that leadership A) Involves followers\' commitment to the leader\'s values. C Grows out of the leader\'s self-awareness and morality. D) Is based on the unique traits of the leader. E) Should strive to do what is right. 21. Which of the following is a criticism of authentic leadership? A) Authentic leadership implies that leaders are motivated by justice and community. become authentic leaders. C) one can develop authenticity and learn to be more authentic Every D) The concepts presented in the practical approaches are not fully substantiated. 22. The three definitions of authentic leadership are A) Interactional, legitimate, and interpersonal. B) Intrapersonal, developmental, and interpersonal. C) Sincere, devotional, and fluid. D) Practical, intentional, and sociable.
Solution
18. (C) Building community
19. (D) Grows out of the life story of leaders.
20. (C) Grows out of the leader’s self-awareness and morality
21. (D) The concepts presented in the practical approaches are not fully substantiated.
22. (B) Intrapersonal, developmental and interpersonal
29. (B) Environmental
30. (D) Organizing
31. (A) Individual qualities
32. (C) Division of labor
33. (B) Dictatorial
34. (C) Explicit
35. (D) Help maximize profit within a locally owned and operated organizations
36. (D) Performance orientation
.
2- Accepted $16-700 on February 1- 2014- as a retainer for services to.docx
2.
Accepted $16,700 on February 1, 2014, as a retainer for services to be performed evenly over the next 12 months.
On December 31, 2014, recognized the revenue that had been earned for services performed in accordance with Transaction 2.
Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change in cash and NA to indicate accounts not affected by the event. The first event has been recorded as an example. (Do not round intermediate calculations and round your final answers to nearest whole number. Enter any decreases to account balances and cash outflows with a minus sign.)
Solution
1.Office supplies on account
Assets = Liabilities + Stockholder\'s equity
SUPPLIES= ACCOUNT
payable
2 . unearned revenue of $16,700
16700 cash = 16,700 unearned
revenue + NA
3.$65,000 services recieved
4 salary paid
5.Paid cash dividend
6.$900 accounts paybale paid
7. office supplies in hand $95 which means $905 supplies expended
8. unearned revenue realised
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