and more. \text { Budget } What is the buyer's total cost of the term used to refer to the loss of inventory due to theft, breakage or deterioration. QN=1 45 Which of the following statements is true? As some firms grow in size their unit costs begin to fall because of:, Large firms have lower unit costs than small firms because these fixed costs are spread more thinly over higher sales volumes. b. service life/(cost + residual value). Select the correct entries below: List the financial statements of a merchandiser. Study with Quizlet and memorize flashcards containing terms like Smithers is a self-employed individual who earns $30,000 per year in self-employment income. \end{array} Rename the improper fraction as either mixed number or whole number. Freedom of expression means that people cannot be required to say or believe in specific political or religious ideas, What did Hamilton mean when he made the following statement? \text { City } & \begin{array}{c} The ending balance in the Merchandise Inventory account will appear in the debit column of the Balance sheet columns. Study with Quizlet and memorize flashcards containing terms like b, e, c and more. c. Finished goods. Sales Discounts is a contra-_____ (expense/ revenue/ asset) account and is increased with a _____ (debit/ credit). $$, Estimate the annual wages for these people. Because all of the company's sales are made to government agencies, it experiences virtually no uncollectible accounts. - Compute and interpret probabilit a reduction in the selling price of defective or unacceptable merchandise sold to customers. \end{array} b. Assets that are expected to either be converted into cash or expire (be used up) within one year of the balance sheet. The remaining $\$ 360,000$ is to be financed with current payables. . Each transmission requires $0.80$ pounds of a key raw material. \boldsymbol{y}= \\ b. determining whether to pay cash for a purchase or use the credit offered by the supplier. The correct entry would be a. Study with Quizlet and memorize flashcards containing terms like Each of the following are examples of a merchandising company except:, Gross profit is:, A company reports net sales of $600,000, cost of goods sold of $200,000, and net income of & & & & \begin{array}{c} ||Market failure|. For 2023, Ascension Complete added 27 new counties to their footprint. "Laws are a dead letter without courts to expound and define their true meaning and operation. Demonstrate the required journal entry to record the sale and cost of the sale. c. the owner of a sole proprietorship is personally responsible for all of the company's debts. There are benefits and drawbacks in increasing the size of operation of a business. The _________ plan is expected to have one of the lowest premiums in the country! What were Keynes's three conjectures about the consumption function? Demonstrate how to prepare a multi-step income statement by ranking the items below in the order they would appear on a multi-step income statement of a merchandiser. QN=1 17 If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Fees, the end-of-period adjusting entry to record the portion of those fees that has been earned is: QN=121 Unearned revenue is reported in the financial statements as: QN=125 The adjusting entry to record the earned but unpaid salaries of employees at the end of an accounting period is: QN=127 The difference between the cost of an asset and the accumulated depreciation for that asset is called. (3) The payment of interest on January 1, 2015. Failure to inform a beneficiary that a trusted provider is out-of-network or is not available in the newly selected plan can cause a sales allegation. The credit terms stand for net 15 days after end of month. Any request or distribution of PHI should contain only the minimum amount of PHI required to complete the intended task. x. ix. Returned defective goods purchased on credit to the supplier. Based on the quote, how does the Supreme Court interpret the Second Amendment? c. Office Supplies on hand, $675. What are the two types of inventory systems? On June 5, X Mart purchased $400 of merchandise with terms of 2/10,n/30. D. debit Depreciation Expense; credit Accumulated Depreciation. 9 & 17.0 & 0.9 & 125 & 270 \\ Debit Cash $980; debit Sales Discounts $20; and credit Accounts Receivable $1,000. ..associate with the sources of funding the business. Member PHI can be stored on an external hard drive or a cloud storage service like Google Drive or Apple Cloud. d. (cost - residual value)/service life., The formula to calculate an activity-based depreciation rate is: a. cost/actual production during the year. Smithers pays $2,200 in annual health insurance premiums (not through an exchange) for his own medical care. b. (a) Prepare the journal entries to record the following transactions. Marketers must decide whether to incorporate rational or emotional appeals in a communications strategy. and more. Electro Company budgets production of 450,000 transmissions in the second quarter and 520,000 transmissions in the third quarter. Assuming that the purchase was originally bought on credit, demonstrate the required journal entry. Centene has new PPO D-SNP product expansion in CT, IN, KS, KY, MS, OH, OK, PA, SC, and a new HMO D-SNP in LA. (B) What is the unpaid balance after $10$ years for the $30$-year choice? On June 5, Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. \boldsymbol{x}_1= \\ Which U.S. federal court does this excerpt from the textbook describe? Tien Kuo celebrated her eighty-fourth birthday on January $3$. \end{array} & \begin{array}{c} Additional necessary costs of $800 were incurred to acquire the goods. His winning bid for the van was $24,500. | :---: | :---: | Explain. The balance of the Office Supplies account was$810. \frac{37}{3} Debts that will be paid in longer than one year. Which of the statements below summarize why a buyer would desire a purchase allowance? f. Discuss problems Former might encounter in obtaining short-term financing. During an appointment, you may not discuss any products not agreed to in advance by the beneficiary. \text { of } \\ Service Revenue accrued, $2,600. Wellcare must receive notice of an event change or cancellation as soon as possible, but no later than 30 minutes after the event start time. The discount period is the time _____ (before/ between) the invoice date and a specified date on which the payment amount owed can be _____ (increased/ reduced) because of early payment. Contributed Capital: Owners investment back into the company when purchasing stock. For the $15$-year choice? Which of the following items are included in a merchandising company's income statement BUT ARE NOT included in a service company's income statement? c. What is the estimated budget for a zoological park that draws an annual attendance of $2.0$ million, occupies 150 acres, and has 600 species. Describe conditions that are more favorable to one or the other. On May 1, it returned $50 of merch due to a defect. How will Jo's Market record the customer payment on June 8? For FOB destination, the transportation costs are paid by, seller debits delivery expense and credits cash, For FOB shipping point, the transportation costs are paid by. A Health Risk Assessment (HRA) can be completed for C-SNP and D-SNP plans only, before the enrollment application process in Ascend through the Value Based Enrollment (VBE) portal. B. variable cost A business owned by a solitary individual who has unlimited liability for its debt is called a: Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Daniel F Viele, David H Marshall, Wayne W McManus. Prior to b. (4) Accrual of interest and amortization of the premium on December 31, 2015. Centene requires all contracted brokers/agents to read, understand, and agree to Centene's Business Ethics and Code of Conduct Policy. The cost disadvantage is known as diseconomies of scale. If she chooses to show the cost less accumulated depreciation, the age of the assets will be apparent. a. any person or entity other than a stockholder or creditor who potentially has a claim on the cash flows of a firm. Economies of scale means large organisations can often produce items at a lower unit cost than their smaller rivals - a source of competitive advantage. C. Sales Journal i. Causes include: - Ineffective communication. |Debt service payment (estimated) | 145,000 | On May 14, X Mart purchased $500 of merch with terms of 3/15,n/40. What statement best expresses what he Court is saying about freedom of expression? Study with Quizlet and memorize flashcards containing terms like Jose purchased a delivery van for his business through an online auction. Journal entry worksheet: Record the entry for supplies used during the year., 2. d. Salaries owed to employees, $850. Paid employee wages All PDPs will feature a $0 tier 1 benefit when filled at preferred pharmacies. A purchase return refers to merchandise a _____ (buyer/ seller/ creditor) purchased, but then returns to the _____ (buyer/ seller/ creditor) for a refund of the purchase price or reduction in the amount owed. From October 1st to October 14th, which activity is not permissible by brokers/agents? The buyer is given a choice of $30$-year or $15$-year financing both at $7.68 \%$ compounded monthly. The financial statement that shows the profitability of the company for a period of time. The company had not yet paid for them. Many economies of scale are about spreading fixed costs more thinly. c. Office Supplies on hand, $675. The Merchandise Inventory account on a classified balance sheet is reported in the: LOL Store uses the periodic inventory system to account for its merch. Determine which of the statements below are CORRECT, when a company, using the periodic inventory system, completes a worksheet. A customer who purchased merch on account requested an allowance on a merch purchase due to its poor quality, but he didn't return the merch. Identify the items or sub-headings below that would appear on a multi-step income statement. Which one of the following terms is defined as the mixture of a firm's debt and equity financing? Inventory carrying cost is $\$ 200$ per unit per month. ||Market failure| 3. By contrast, it is harder to understand __________ conditioning because the organism moves from a(n) __________ situation to another ___________ situation. The following data have been reported for a sample of $10$ major U.S. zoological parks: Beneficiary-facing content that includes generic or plan-specific product or benefit information must be submitted for review and CMS submission, as well as acceptance or approval, prior to distribution. Debit Sales Return and Allowances $50. The balance sheet of a merchandiser and a service business have one major difference. c. What is the probability that the random variable $X$ is less than $40 ?$ Depreciation of building for the year, $6,400. Should the balance fall below this amount, management negotiates a short-term loan with a local bank. The difference between net sales and the cost of the goods sold. In addition, Jose incurred the following expenses before using the van: shipping costs of $650; paint to match the other fleet vehicles at a cost of $1,000; registration costs of $3,200, which included $3,000 Debit Accounts Payable $1,000; credit Cash $980; credit Merchandise Inventory $20. Both types of business make adjustments for depreciation. d. increase in the market value per share. Of those miles, $27 \%$ were for her job. Value Script and Value Plus PDP products have a ___-tier formulary structure for 2023. C. total cost False, When a paper SOA form is used, it must be completed _____ hosting the sales presentation. Beginning inventory of this raw material is 72,000 pounds. 3. Salaries Expense c. Cash d. Fees Earned, Which statement is true regarding the *cash basis of accounting*? f. Depreciation on equipment, $ 12,000. a. Study with Quizlet and memorize flashcards containing terms like Rank the appropriate steps that could have prevented the fatality and injuries in these case studies., What are the four common types of struck-by hazards?, Think about the worksites you have been on and the struck-by hazards that you've seen. In a new housing development, the houses are selling for $\$ 100,000$ and require a $20 \%$ down payment. Wellcare added ___ counties to their footprint for 2023. There is no beginning or ending inventory in stock, and no backorders are permitted from period to period. Include the cash effects of transactions that create revenue and expenses and thus enter into the determination of net income. Cash inflows and outflows associated with the primary operations of the business. and more. c. Sales How will Jo's record the customer's payment on June 8? Dogs R Us uses the perpetual inventory system to account for its merchandise. B. debit Accumulated Depreciation; credit Depreciation Expense. 6 & 22.2 & 1.3 & 80 & 400 \\ Direct materials cost $\$ 1.70$ per pound. Compulsive Shopping: An unhealthy obsession with shopping that materially interferes with the daily life of the afflicted. Explain how to determine gross profit on an income statement. Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Don Herrmann, J. David Spiceland, Wayne Thomas, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Consider the following discrete probability distribution. Expenses are reported in the same period as the revenues to which they relate. What if overtime costs then fall to $\$ 1,200$ ? This price resulted in a 6% effective-interest rate on the bonds. What are some examples of what can trigger a beneficiary complaint? On 11/17, it purchased $1,000 of merchandise with terms of 2/5,n/60. FILE QuickFix. The balance of the Office Supplies account was$810. | MAY | JUNE | JULY | AUG. | Salaries Payable b. CH. ", For laws to be effective, there must be courts to interpret them consistently. Exercise 2. Match the special journal you would use to record the following transactions. The original cost of the goods was $400. Medicare Star Ratings and performance are at the forefront of Wellcare's quality strategy. The cost of producing each unit is $\$ 1,000$ on regular time, $\$ 1,300$ on overtime, and $\$ 1,800$ on a subcontract. 8 & 26.0 & 2.5 & 91 & 759 \\ $$ It is relatively easy to understand the procedure underlying (escape/avoidance) conditioning because the organism moves from a(n) ____________ situation to a non__________ situation. Former's minimum cash balance requirement is $\$ 10,000$. Study with Quizlet and memorize flashcards containing terms like The formula for straight-line depreciation is a. \hline & 0.14 & 0.40 & 0.26 & 0.20 \\ Explain what this means. x_3= \\ Depreciation of equipment for the year,$2,800. \text { Species } Sales Discount is a contra-_____ (expense/ revenue/ asset) account and is increased with a _____ (debit/ credit). When a seller grants an allowance on a previous sale, the _____ (customer/ creditor/ seller) issues a credit memo to inform the _____ (customer/ seller) of a credit made to the buyer's Accounts Receivable in the seller's records. Cost of goods sold is the expense of buying and preparing merchandise. On Dec 7, Toys R Fun purchased $1,000 of merchandise items with terms of 2/10,n/30. Study with Quizlet and memorize flashcards containing terms like Amendment 1, Amendment 2, Amendment 3 and more. and more. Sold inventory for cash **Instructions** Which of the following are included in merchandise inventory? \text { Acres } 4 & 14.0 & 1.0 & 125 & 277 \\ Study with Quizlet and memorize flashcards containing terms like Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a a. credit to Customer Refunds Payable b. debit to Inventory c. credit to Inventory d. debit to Cash, Using a perpetual inventory system, the entry to record the sale of merchandise on account On January 1, 2014, Murphy Company issued $1,600,000 face value, 7%, 10-year bonds at$1,717,761. If payment is made on June 11, calculate the purchase discount that may be taken by X Mart. However, it will not disclose the age of the assets. 2. (1) The issuance of the bonds on January 1, 2014. The Supreme Court supports the right of citizens to have a handgun in their home if they are using it for self-defense, The Court of Appeals for the Armed Forces is, A civilian tribunal that reviews verdicts rendered by military courts-martial. Study with Quizlet and memorize flashcards containing terms like Define / describe gross profit., Explain merchandise inventory., To compute net income for a merchandiser, you will start with net sales, subtract cost of goods sold and subtract other _____. The cost advantage is known as economies of scale. $$. \end{array} \\ Test your understanding of accounting for liabilities by answering the following questions. Debit Cash $980; debit Sales Discount $20; credit Accounts Receivable $1,000. Beginning inventory + net purchases = Merchandise available for sale. A company has some leeway to choose its depreciation method, which modifies the depreciation expense reported on the income statement. The Single Sign-On Portal provides access to several applications, including Centene Workbench. $$ unit contribution margin unit selling price variable expense per unit fixed expense per unit, Break-even point is the level of sales at which _____ total profits equals total costs total Study with Quizlet and memorize flashcards containing terms like Gently Laser Clinic purchased laser equipment for $8,500 and paid $2,250 down, with the remainder to be paid later. \hline when the bin is full, it is sent to a TSDF for disposal. ..associated with the purchase and sale of long-term assets such as PPE. \end{array} \begin{array}{|c|c|c|c|c|} Key areas you as a broker/agent have control over and impact upon regarding Star Ratings for quality are: Noting the correct enrollment period on enrollment applications helps in preventing delayed enrollment processing. Study with Quizlet and memorize flashcards containing terms like Porters Five Forces use [State], What theory is Porters Five Forces based on?, How does Porters Five Forces differ from SWOT? Exercise 4. Enrollment applications must be received by Wellcare no later than ___ calendar day(s) following receipt from the beneficiary. Round answer to the nearest thousandth. c. cost/service life. (a) Write the mathematical formula for a standardized variable 1. A business partner whose potential financial loss in the partnership will not exceed his or her investment in that partnership is called a: The controller of a corporation generally reports directly to the: Which one of the following best illustrates that the management of a firm is adhering to the goal of financial management? It is an inventory system that updates the accounting records for merchandise transactions ONLY at the end of a period. If payment is made on 11/21, demonstrate the required journal entry to record the payment. QN=1 46 Which of the following is a liability? (A) What is the monthly payment for the $30$-year choice? If a million items are sold the unit cost falls to just one pound. Wellcare's quality focus consists of six drivers. From the list below, select a category of struck-by hazard that you Journalize any necessary reversing entries for Krisp Architects. 1. f. Depreciation on equipment, $ 12,000. Perpetual inventory system & periodic inventory system. QN=106 Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of: QN= 107 Which of the following statements is incorrect? ||Market failure| Identify the case over which the U.S. Supreme Court would exercise original jurisdiction. c. determining how much debt should be assumed to fund a project. Study with Quizlet and memorize flashcards containing terms like All income statement accounts will be closed at the end of the period., assets liabilities and owner's equity are permanent (real) accounts and do not get closed at the end of the period, balance sheet accounts and more. \end{aligned} e. What is the probability that the random variable $X$ is greater than$20 ?$. Which of the following is not considered a grievance? A sale return refers to merchandise that _____ (customers/ sellers/ creditors) return to the _____ (customer/ seller/ creditor) after a sale for a refund of the purchase price or reduction in the amount owed. Study with Quizlet and memorize flashcards containing terms like In the context of the internal and external forces that affect business, which of the following is a difference between stable environments and dynamic environments? QN=108 An adjusting entry could be made for each of the following except: QN=109 An adjusting entry could be made for each of the following except: QN=110 An adjusting entry could be made for each of the following except: QN=111 An adjusting entry could be made for each of the following except: QN=112 An adjusting entry could be made for each of the following except: QN=113 An adjusting entry could be made for each of the following except: QN=1 14 The expense created by allocating the cost of fixed assets to the periods in which they are used, representing the expense of using the assets, is called. Smithers pays $2,200 in annual health insurance premiums (not through an exchange) for his own medical care. Would you focus on the actual state or the desired state? It is important not to confuse total cost with average cost. e. One month of Prepaid Rent has expired,$2,700. Solve. In each of the following situations, determine the amount of the deductible health insurance premium for It shows only one total for all expenses. ABC Mart received a $20 freight bill for merchandise it purchased with freight terms of FOB shipping point. The company reimburses Clarice $\$ 0.35$ a mile for business use. Clarice Johnson put 1,489 miles on her car in June. Purchased stock for cash A state agency brings a lawsuit against an agency in another state, This excerpt from the textbook describes how the Senate, Considers the preferences of senators regarding judges serving in their state. Study with Quizlet and memorize flashcards containing terms like Indicate which of the following accounts will *never require an adjusting entry*. Large firms have lower unit costs than small firms because these fixed costs are spread more thinly over higher sales volumes. Cost of goods sold is subtracted from net sales. Create a cartoon that illustrates the use or one of the defense mechanisms discussed in this section. a. The Wellcare preferred pharmacy network includes Walgreens, CVS, and many grocery chains in 2023. Select the best choice from among the possible answers given. Section 5.7: Driving Data. At the beginning of the current quarter, the company reports the following selected account balances: Supplies., Which of the following methods is also referred as "parking transactions"? |Cash| $\$10,000$ | Exercise 5. \end{array} & \begin{array}{c} Statement of Owner's Equity: Corporation =, Statement of Owner's Equity: Sole Proprietorship/Partnership. | Subcontract | 12 | 16 | 15 | 17 | 17 | 19 | 19 | 20 | There are ___ LIS copay categories that could be assigned to a member, depending on the level of need. Wellcare offers a range of Medicare plans to provide members with affordable access to: What type of inquiries can Wellcare's Corporate Sales Support team assist with? Original jurisdiction refers to a court where a case is first heard; appellate jurisdiction refers to a case being heard after it was tried in a lower court, Christina Dejong, Christopher E. Smith, George F Cole, Government in America: Elections and Updates Edition, George C. Edwards III, Martin P. Wattenberg, Robert L. Lineberry. The general manager of QuickFix, a chain of quick-service, noappointment auto repair shops, wants to develop a model to forecast monthly vehicles served at any particular shop based on four factors: garage bays, population within 5-mile radius (Population in 1,000s), interstate highway access (Access equals 1 if convenient, 0 otherwise), and time of year The components of the equity section of a balance sheet depend on the type of business organization being used. No other incentives or discounts were available. $$ ii. She proposes the following. | Demand | 255 | 294 | 321 | 301 | 330 | 320 | 345 | 340 | C. A dispute of the appeal of an organization determination, coverage determination or a Late Enrollment Penalty (LEP) determination. Divide. Brokers/Agents can submit a support ticket online through their Centene Workbench portal. A set of accounting reports that convey economic and financial information to outside users such as creditors and investors. e. Adjusting entries affect the cash account. vi. The economic resources owned by a business (ASSETS). Study with Quizlet and memorize flashcards containing terms like Which one of the following statements concerning a sole proprietorship is correct? Study with Quizlet and memorize flashcards containing terms like community sport, training the youth for adult experiences; displaying the strength, skill, and prowess of community members; or celebrating the culture and religion of the community., false and more. c. An electronic SOA submitted in Ascend must be in a Pending status prior to beginning the appointment. QN=130 If accrued salaries were recorded on December 31 with a credit to Salaries Payable, the entry to record payment of these wages on the following January 5 would include: QN=135 Revenues, expenses, and withdrawals accounts, which are closed at the end of each accounting period are: QN=136 Assets, liabilities, and equity accounts are not closed; these accounts are called: QN= 137 Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and withdrawals accounts for the upcoming period and to update the owner's capital account for the events of the period just finished are referred to as: QN=139 The Income Summary account is used: QN=1 44 Which of the following accounts is not increased by a debit? d. Service Revenue accrued, $2,600. The changes in equity for a period of time (same period as income statement). A broker/agent may be terminated for cause if they fail to comply with a compliance investigation, encourage others to avoid the compliance interview process, or fail to provide truthful or complete information. Wellcare does not need to be informed of all marketing/sales events at which plans or materials will be presented or distributed (Formal & Informal). She feels that she can disclose one figure titled "Property, plant, and equipment, net of depreciation." 5 & 11.6 & 1.5 & 55 & 721 \\ The company's ending prepayments balance is expected to be the same as its beginning prepayments balance. On June 5, Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. and more. 2 & 40.0 & 2.0 & 216 & 400 \\ d. Salaries owed to employees, $850. Sold goods with credit terms 1/10, 2/30, n/60 Which standalone Prescription Drug Plan is best for a dual-eligible chooser? 3 & 11.9 & 0.4 & 70 & 377 \\ Debit sales returns and Allowances $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150. Study with Quizlet and memorize flashcards containing terms like Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer? buyer debits Merchandise Inventory and credits Cash. Recall that the Merchandise Inventory is considered a(n) _____ (current/ plant/ intangible) asset on the _____ (balance /income) _____ (sheet/ statement) of a merchandiser using the periodic inventory system. How has the Lemon test affected Supreme Court rulings about public aid to church-related schools? $$ X-Mart uses the perpetual inventory system to account for its merchandise. a. iv. Historical and Exponential Depreciation. Costs incurred in the process of earning revenues. As a result of the principle explained in this excerpt from the textbook, citizens of the United States, Can only sue the government in limited cases already approved by congress, The territorial courts are most similar to. (b) Write the Excel formula for standardizing a data value in cell F17 from an array with mean Mu and standard deviation Sigma. and more. C. debit Depreciation Expense; credit Building. A cash discount can be summarized as a discount given to _____ (buyers/ creditors/ sellers) to encourage them to pay _____ (earlier/ later/ less/ more). Study with Quizlet and memorize flashcards containing terms like During an appointment, you may not discuss any products not agreed to in advance by the beneficiary. Exercise 1. |Current payables| 88,000| The original cost of the merchandise to X-Mart was $500. b. | :---: | :---: | X Mart uses the perpetual inventory system to account for its merch. The person is named to the bench by the president and confirmed by the Senate. To compute net income for a merchandiser, you will start with net sales, subtract cost of goods sold and subtract other _____. &\begin{array}{lcc} Section 5.9: Accident Investigation Data. Study with Quizlet and memorize flashcards containing terms like Which of the following exemplifies the sense of audition?, What is amplitude?, Honeybees can see light in the _____ range of the electromagnetic spectrum. demonstrate how to use the $$ Demand and capacity (in units) are forecast as follows: ____ new Wellcare and Ascension Complete plans are going to market. The adjusting entry to record the depreciation of a building for the fiscal period is A. debit Building; credit Depreciation Expense. Total costs and expenses (estimated) | 400,000 | Which one of the following is a working capital management decision? A single-step income statement can be identified by? Former's management has made the following budget estimates regarding operations for the current quarter: Study with Quizlet and memorize flashcards containing terms like Douglas McGregor, Theory X, Autocratic Managerial Style and more. Its ending current payables balance is expected to be $\$ 22,000$ more than its beginning balance. $$ Took out a loan from the bank b. Unearned Revenue that has been earned,$400. Assuming it paid the bill immediately, demonstrate the journal entry required to record the freight charges. Study with Quizlet and memorize flashcards containing terms like 1. Murphy uses the effective-interest method to amortize bond premium or discount. The goods were shipped to the buyer (FOB shipping point) for a cost of $400. Provides info about: Statement of Cash Flows: Operating Activities. |Tax liability payment (estimated) | 45,000 | 7.65% of $31,745. The beneficiary (or their authorized representative) must indicate the product types to be discussed during the appointment on the Scope of Appointment (SOA). Study with Quizlet and memorize flashcards containing terms like Smithers is a self-employed individual who earns $30,000 per year in self-employment income. 10 & 14.6 & 1.1 & 92 & 260 Cash 2,250 Accounts Payable 6,250 Equipment 8,500 c. Equipment Expense 8,500 Accounts Payable 2,250 Cash 6,250 d. Study with Quizlet and memorize flashcards containing terms like when recording transactions into the accounting equation, a customer makes a partial payment of $100 on a service for which you have already billed him, you would record this transaction into the accounting equation by, jackson programming company paid its june rent of $500. |--|--| 1. If a corporation has projects that will earn more than the cost of capital, should it ration capital? Assuming that the purchase was originally bought on credit for $400 with a cost to Dogs R Us of $100, demonstrate the required journal entry of Dogs R Us to record the return. \text { Number } Dogs R Us uses the perpetual inventory system to account for its merch. If overtime costs per unit rise from $\$ 1,300$ to $\$ 1,400$, will your answer to (a) change? Study with Quizlet and memorize flashcards containing terms like Correctly label the following anatomical features of the surface of the brain., Correctly label the following meninges of the brain., Place a single word into each sentence to make it correct, then place each sentence into a logical paragraph order describing the flow of cerebrospinal fluid. The original sale was for $500, and the cost to the seller was $150. What are the two classifications of operating expenses on a multi-step income statement? Study with Quizlet and memorize flashcards containing terms like Subsequent to acquisition, consolidated depreciation expense is based upon, In conjunction with combining a subsidiary's assets and liabilities with those of the parent company, the investment in subsidiary account is brought to a (1) balance as part of the consolidation process., Regardless of the parent's In order to keep defective, but still marketable merchandise, the buyer would need a reduction in the purchase price. d. a liability. Which one of the following is defined as a firm's short-term assets and its short-term liabilities? | Regular time | 235 | 255 | 290 | 300 | 300 | 290 | 300 | 290 | Round to the nearest cent. (2) Accrual of interest and amortization of the premium on December 31, 2014. The remaining 35 percent are collected in the following quarter. Merchandise businesses make adjustments for shrinkage. Sales is a(n) _____ (expense/ revenue/ asset) account and is reported on the _____ (income/ balance) _____ (statement/ sheet). \end{array} \\ Demonstrate the required journal entry to record the return on the books of the seller, assuming the goods can be sold to another customer. ______ events are designed to inform the people that attend about Medicare Advantage, Prescription Drug, or other Medicare programs without going into the specifics of a particular carrier. \begin{array}{ccccc} In each of the following situations, determine the amount of the deductible health insurance premium for \hline x & 15 & 22 & 34 & 40 \\ Debts owed by the business; represents creditors' claims against the company's assets. | :--- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | Paid income taxes Which of the following statements about Scope of Appointment (SOA) is FALSE? Question options: The stable environment of a company is only related to the external factors affecting the company, whereas the dynamic In a recent balance sheet, Microsoft Corporation reported Property, Plant, and Equipment of $\$ 19,231$ million and Accumulated Depreciation of $\$ 10,962$ million. They either operate in service industries such as hairdressing where there are few opportunities for economies of scale, or they offer high priced, premium, niche products. A) An agent may not share a commission with anyone who does not have a license and appointment for the type of The data needed to determine year-end adjustments are as follows: a. Electro Company aims to end each quarter with an ending inventory of direct materials equal to $20 \%$ of next quarter's budgeted materials requirements. Centene continues to expand its reach by offering more products in a wider geography. Which one of the following is a capital budgeting decision? Approximately 65 percent of its sales are collected in the quarter in which they are made. A. contribution margin Page 282: Assessment. | Overtime | 20 | 24 | 26 | 24 | 30 | 28 | 30 | 30 | Which one of the following statements concerning a sole proprietorship is correct? Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the effects of the passage of time. a. a. Which of the following is not an example of Protected Health Information (PHI)? Which one of the following terms is defined as the management of a firm's long-term investments? During c. After, Brokers/Agents can submit a support ticket online through their Centene For the $15$-year choice. Recorded depreciation on the factory equipment A customer returned some merch due to a defect. \end{array} & \begin{array}{c} c. has a greater ability to raise capital than a sole proprietorship. Dogs R Us uses the perpetual inventory system to account for its merchandise. The bonds pay annual interest on each January 1. The Part D Senior Savings Model (SSM), which reduces member spending on insulin, will be offered on all Value Script, Value Plus PDPs, and select Wellcare MAPD plans. e. One month of Prepaid Rent has expired,$2,700. Krisp Architects recorded the following adj us ting entries as of December 31: b. Graphically depict this probability distribution. General Ledger: A general ledger is a company's set of numbered accounts for its accounting records . Study with Quizlet and memorize flashcards containing terms like Once the break-even point has been reached, net operating income will increase by the amount of the _____ for each additional unit sold. An end-of-period adjusting entry that debits Unearned Revenue most likely will credit a. a revenue b. an asset. If just two items are sold the unit cost of promotion is half a million pounds. Health plan fax numbers vary for health plans that offer fax enrollment submissions. Brokers/Agents may be investigated after being suspected of noncompliant activity reported through a: Which resources are available for download from the Shared Resources section found within Centene Workbench? A merchandiser has four closing journal entries at the end of an accounting cycle. Explain how your cartoon Illustrates the defense mechanism in a brier paragraph. Ascend is a fast, easy, and compliant way for brokers/agents to submit agent-assisted electronic enrollments. - Compute and interpret probabilities using the empirical method. Study with Quizlet and memorize flashcards containing terms like b, e, c and more. A grievance request, or any evidence concerning a grievance, must be filed orally or in writing no later than _____ calendar days from the date of the event or the date the member is made aware of the issue. 2000\div 96,500 a. the profits of a sole proprietorship are subject to double taxation b. Merchandise inventory is an asset reported on the balance sheet and contains the cost of products purchased for sale. The company's debt ratio (liabilities $\div$ assets) is currently 80 percent. Which one of the following functions should be the responsibility of the controller rather than the treasurer? Economies of scale are the cost advantage from business expansion. Of Former's total costs and expenses, $\$ 20,000$ is quarterly depreciation expense, and $\$ 20,000$ represents the expiration of prepayments. On Jan 5, a customer returned merchandise that had been purchased earlier on credit. Corporations can raise large amounts of capital generally easier than partnerships can. a. Consignment sales. \textbf { Employee } & \textbf { Hourly Rate } \\ At what point does the munition waste become WMM? Shows the changes in cash for a period of time (same as income statement period). Is this a valid probability distribution? $$. vii. Equipment 2,250 Cash 2,250 b. a reduction in the cost of defective or unacceptable merchandise that a buyer acquires. Unlike net income, OCF excludes non-cash items like depreciation and amortization, which can misrepresent a company's actual financial position. Interest of $270 on a note receivable was earned at year-end, although collection of the interest is not due until For newer properties, the assessor deducts any realistic depreciation and looks at the costs of building materials and labor, including these figures in the final value of the property. | APR. 2. A broker/agent who has never had any verbal warnings cannot be issued a Corrective Action Plan. ***Instructions*** 1. Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Use the graphic organizer below to identify the main causes of market failures. 1. d. maximum loss limited to the capital invested. |Cause|Effect| What is the difference between original jurisdiction and appellate jurisdiction? Coordinating large numbers of staff becomes a challenge. b. Unearned Revenue that has been earned,$400. Determine which of the following statements are correct regarding the adjusting entries for a merchandiser and a service business. Raw materials. Amount earned during the accounting period (year); may result from sale of merchandise, services, rental of property, or lending money. Dwayne Cole, owner of a Florida firm that manufactures display cabinets, develops an 8-month aggregate plan. Former Corporation sells office supplies to government agencies. A sole proprietorship is designed to protect the personal assets of the owner c. the owner of a sole proprietorship is personally responsible for all of the company's Let the production (workforce) vary by using regular time first, then overtime, and then subcontracting. QN=1 49 Which of the following accounts is not increased by a credit, Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Carl S Warren, James M Reeve, Jonathan E. Duchac. As some firms grow in size their unit costs begin to fall because of: - purchasing economies - when large businesses often receive a discount because they are buying in bulk. Supplies for office use were purchased during the year for $540, of which $120 remained on hand (unused) at year-end. Revenues are Paid the phone bill | CAPACITY SOURCE (UNITS) | JAN. | FEB. | MAR. When discussing prescription drug coverage, you should: The information contained within ACT will equip brokers/agents to certify, market, and sell which health plans? Which one of the following best describes the primary advantage of being a limited partner instead of a general partner? d. What is the probability that the random variable $X$ is between $10$ and $30?$ v. Purchased inventory with credit terms n/90 What is the minimum amount she must withdraw from the investment this year? The Court has used the Lemon test to rule the most public aid to religious schools is unconstitutional. \text { Attendance } Sales on installment. viii. Which elements are available as part of Wellcare's sales support model? However, the benefits of becoming bigger can mean a fall in the average cost of making one item. Study with Quizlet and memorize flashcards containing terms like Correctly label the following anatomical features of the surface of the brain., Correctly label the following meninges of the brain., Place a single word into each sentence to make it correct, then place each sentence into a logical paragraph order describing the flow of cerebrospinal fluid. 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