what is depreciation quizlet

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\textbf { Employee } & \textbf { Hourly Rate } \\ Assuming it paid the bill immediately, demonstrate the journal entry required to record the freight charges. |Cause|Effect| and more. \end{array} \\ (b) Write the Excel formula for standardizing a data value in cell F17 from an array with mean Mu and standard deviation Sigma. Cost of goods sold is the expense of buying and preparing merchandise. 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? Both types of business make adjustments for depreciation. iv. Debit sales returns and Allowances $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150. What are the two types of inventory systems? Supplies for office use were purchased during the year for $540, of which $120 remained on hand (unused) at year-end. For 2023, Ascension Complete added 27 new counties to their footprint. c. Assist with completing and collecting completed applications. B. variable cost 5 & 11.6 & 1.5 & 55 & 721 \\ Electro Company aims to end each quarter with an ending inventory of direct materials equal to $20 \%$ of next quarter's budgeted materials requirements. 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 Study with Quizlet and memorize flashcards containing terms like b, e, c and more. To compute net income for a merchandiser, you will start with net sales, subtract cost of goods sold and subtract other _____. QN=1 46 Which of the following is a liability? Page 282: Assessment. c. determining how much debt should be assumed to fund a project. a reduction in the cost of defective or unacceptable merchandise that a buyer acquires. ***Instructions*** | CAPACITY SOURCE (UNITS) | JAN. | FEB. | MAR. On June 5, Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. b. 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 |Debt service payment (estimated) | 145,000 | The balance of the Office Supplies account was$810. As a firm grows in size its total costs rise because it is necessary to use more resources. \text { Attendance } Additional necessary costs of $800 were incurred to acquire the goods. 2000\div 96,500 c. An electronic SOA submitted in Ascend must be in a Pending status prior to beginning the appointment. The bonds pay annual interest on each January 1. What if overtime costs then fall to $\$ 1,200$ ? What statement best expresses what he Court is saying about freedom of expression? Identify the case over which the U.S. Supreme Court would exercise original jurisdiction. (a) Prepare the journal entries to record the following transactions. **Instructions** Debit Merchandise Inventory $20; credit Cash $20. Exercise 3. There are benefits and drawbacks in increasing the size of operation of a business. Which of the following is not considered a grievance? \hline Large firms have lower unit costs than small firms because these fixed costs are spread more thinly over higher sales volumes. The Court has used the Lemon test to rule the most public aid to religious schools is unconstitutional. ..associated with the purchase and sale of long-term assets such as PPE. 1. \end{array} \\ 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. Dogs R Us uses the perpetual inventory system to account for its merch. \end{array} Former Corporation sells office supplies to government agencies. 3. (3) The payment of interest on January 1, 2015. Smithers pays $2,200 in annual health insurance premiums (not through an exchange) for his own medical care. 7 & 20.5 & 1.3 & 42 & 437 \\ c. has a greater ability to raise capital than a sole proprietorship. | :--- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | \text { Acres } Wellcare's quality focus consists of six drivers. On Jan 5, a customer returned merchandise that had been purchased earlier on credit. Section 5.7: Driving Data. $$ \boldsymbol{y}= \\ Centene requires all contracted brokers/agents to read, understand, and agree to Centene's Business Ethics and Code of Conduct Policy. Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Don Herrmann, J. David Spiceland, Wayne Thomas, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Consider the following discrete probability distribution. $$ a. Consignment sales. 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. ||Market failure| Member PHI can be stored on an external hard drive or a cloud storage service like Google Drive or Apple Cloud. Imagine you are a marketing manager for Nissan X-Trail 4Dogs and designing a marketing strategy to stimulate problem recognition: c. Office Supplies on hand, $675. Which one of the following is defined as a firm's short-term assets and its short-term liabilities? If overtime costs per unit rise from $\$ 1,300$ to $\$ 1,400$, will your answer to (a) change? 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. 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. A set of accounting reports that convey economic and financial information to outside users such as creditors and investors. |Cash| $\$10,000$ | Causes include: - Ineffective communication. To maximize the company's tax deduction for depreciation, management allocated only 10% of the purchase price to land and 90% of the purchase price to the building. Which one of the following terms is defined as the management of a firm's long-term investments? a. Explain how your cartoon Illustrates the defense mechanism in a brier paragraph. On 11/17, it purchased $1,000 of merchandise with terms of 2/5,n/60. 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. 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. \end{array} 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. The company reimburses Clarice $\$ 0.35$ a mile for business use. b. service life/(cost + residual value). Assuming that the purchase was originally bought on credit, demonstrate the required journal entry. The required journal entry to record the sale and cost of the sale would be: debit Accounts Receivable $1,000; credit Sales $1,000; debit Cost of Goods Sold $400; and credit Merchandise Inventory $400. Of Former's total costs and expenses, $\$ 20,000$ is quarterly depreciation expense, and $\$ 20,000$ represents the expiration of prepayments. Include obtaining cash from and paying cash to creditors, owners. For instance, take a 1 million advertising campaign. Expanding firms can experience diseconomies of scale. Study with Quizlet and memorize flashcards containing terms like Economies of scale, Economies of scale are the cost advantage from business expansion. a. 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. 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. Debit Sales Return and Allowances $50. The components of the equity section of a balance sheet depend on the type of business organization being used. Centene continues to expand its reach by offering more products in a wider geography. buyer debits Merchandise Inventory and credits Cash. Study with Quizlet and memorize flashcards containing terms like The formula for straight-line depreciation is a. "Common Stock". Sales Discounts is a contra-_____ (expense/ revenue/ asset) account and is increased with a _____ (debit/ credit). a. Explain how to determine gross profit on an income statement. Service Revenue accrued, $2,600. General Ledger: A general ledger is a company's set of numbered accounts for its accounting records . The cost advantage is known as economies of scale. If a corporation has projects that will earn more than the cost of capital, should it ration capital? Dwayne Cole, owner of a Florida firm that manufactures display cabinets, develops an 8-month aggregate plan. Beginning inventory of this raw material is 72,000 pounds. She has a total investment in her IRA of $\$ 617,800$. 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. Wellcare does not need to be informed of all marketing/sales events at which plans or materials will be presented or distributed (Formal & Informal). 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? A cash discount can be summarized as a discount given to _____ (buyers/ creditors/ sellers) to encourage them to pay _____ (earlier/ later/ less/ more). Select the statements below that correctly describe the flow of costs in a merchandiser's accounting cycle. The balance of the Office Supplies account was$810. iii. Sold inventory for cash On June 5, X Mart purchased $400 of merchandise with terms of 2/10,n/30. What did Clarice receive as reimbursement for the use of her car in June? Study with Quizlet and memorize flashcards containing terms like Amendment 1, Amendment 2, Amendment 3 and more. vii. C. total cost Murphy uses the effective-interest method to amortize bond premium or discount. ||Market failure|. What was the book value of the fixed assets? Should the balance fall below this amount, management negotiates a short-term loan with a local bank. From the list below, select a category of struck-by hazard that you In order to keep defective, but still marketable merchandise, the buyer would need a reduction in the purchase price. In each of the following situations, determine the amount of the deductible health insurance premium for If payment is made on June 11, calculate the purchase discount that may be taken by X Mart. Economies of scale are the cost advantage from business expansion. $$ c. the owner of a sole proprietorship is personally responsible for all of the company's debts. b. determining whether to pay cash for a purchase or use the credit offered by the supplier. Study with Quizlet and memorize flashcards containing terms like You should keep emergency response record for at least, Who determines if an explosive emergency is a level 1 or level 2?, A range has a large bin for storing munition waste. Beneficiary-facing content that includes generic or plan-specific product or benefit information must be submitted for review and CMS submission, as well as acceptance or approval, prior to distribution. 1. | MAY | JUNE | JULY | AUG. | Study with Quizlet and memorize flashcards containing terms like All income statement accounts will be closed at the end of the period., assets liabilities and owner's equity are permanent (real) accounts and do not get closed at the end of the period, balance sheet accounts and more. Cash 2,250 Accounts Payable 6,250 Equipment 8,500 c. Equipment Expense 8,500 Accounts Payable 2,250 Cash 6,250 d. Why? Sold goods with credit terms 1/10, 2/30, n/60 A business can become so large that its unit costs begin to rise. c. What is the probability that the random variable $X$ is less than $40 ?$ d. maximum loss limited to the capital invested. What are some examples of what can trigger a beneficiary complaint? What is the buyer's total cost of Which of the following is not an example of Protected Health Information (PHI)? Statement of Owner's Equity: Corporation =, Statement of Owner's Equity: Sole Proprietorship/Partnership. A customer returned merchandise. Economies of scale means large organisations can often produce items at a lower unit cost than their smaller rivals - a source of competitive advantage. $$, Estimate the annual wages for these people. The original sale was for $500, and the cost to the seller was $150. If payment is made on May 28, calculate the purchase discount that may be taken by X Mart. Sales is a(n) _____ (expense/ revenue/ asset) account and is reported on the _____ (income/ balance) _____ (statement/ sheet). Wellcare added ___ counties to their footprint for 2023. Dogs R Us uses the perpetual inventory system to account for its merchandise. \hline 1 & \$ 19.5 \text { million } & 0.6 \text { million } & 210 & 271 \\ A. contribution margin The company had not yet paid for them. d. (cost - residual value)/service life., The formula to calculate an activity-based depreciation rate is: a. cost/actual production during the year. Each transmission requires $0.80$ pounds of a key raw material. and more. 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. a. any person or entity other than a stockholder or creditor who potentially has a claim on the cash flows of a firm. a. the profits of a sole proprietorship are subject to double taxation b. 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. For the $15$-year choice? The ending balance in the Merchandise Inventory account will appear in the debit column of the Balance sheet columns. During c. After, Brokers/Agents can submit a support ticket online through their Centene Solve. At what point does the munition waste become WMM? Expenses are reported in the same period as the revenues to which they relate. Interest of $270 on a note receivable was earned at year-end, although collection of the interest is not due until c. Sales 1. 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. Marketers must decide whether to incorporate rational or emotional appeals in a communications strategy. 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. Credit terms of n/15 EOM were printed on an invoice. If a million items are sold the unit cost falls to just one pound. The balance sheet of a merchandiser and a service business have one major difference. Demonstrate the required journal entry on X Mart's books to record the allowance. What is the difference between original jurisdiction and appellate jurisdiction? Describe conditions that are more favorable to one or the other. \begin{aligned} Inventory carrying cost is $\$ 200$ per unit per month. 9 & 17.0 & 0.9 & 125 & 270 \\ This price resulted in a 6% effective-interest rate on the bonds. \end{aligned} Include the cash effects of transactions that create revenue and expenses and thus enter into the determination of net income. Debit Cash $980; debit Sales Discount $20; credit Accounts Receivable $1,000. Krisp Architects recorded the following adj us ting entries as of December 31: \begin{array}{|c|c|c|c|c|} 3 & 11.9 & 0.4 & 70 & 377 \\ Smithers pays $2,200 in annual health insurance premiums (not through an exchange) for his own medical care. 3. ||Market failure| 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. Study with Quizlet and memorize flashcards containing terms like 1. For PDP Medication Home Delivery, the ____ plan will continue to offer a discount for 90-day tier 2, tier 3 and tier 6 prescriptions. Perpetual inventory system & periodic inventory system. \frac{37}{3} Total costs and expenses (estimated) | 400,000 | 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. b. It is important not to confuse total cost with average cost. Which elements are available as part of Wellcare's sales support model? 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? Historical and Exponential Depreciation. For the $15$-year choice. Is this a valid probability distribution? (2) Accrual of interest and amortization of the premium on December 31, 2014. Costs incurred in the process of earning revenues. The Wellcare preferred pharmacy network includes Walgreens, CVS, and many grocery chains in 2023. e. Adjusting entries affect the cash account. 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 _____. Which of the following are included in merchandise inventory? Round answer to the nearest thousandth. \text { Number } Shows the changes in cash for a period of time (same as income statement period). ix. Its ending current payables balance is expected to be $\$ 22,000$ more than its beginning balance. \text { Budget } Debit Accounts Payable $1,000; credit Cash $980; credit Merchandise Inventory $20. Cash inflows and outflows associated with the primary operations of the business. Supplies., Which of the following methods is also referred as "parking transactions"? Service Revenue accrued, $2,600. 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? A) An agent may not share a commission with anyone who does not have a license and appointment for the type of e. deciding whether or not to purchase a new machine for the production line. 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. If payment is made on 11/21, demonstrate the required journal entry to record the payment. Study with Quizlet and memorize flashcards containing terms like Costs of $7,000 were incurred to acquire goods and make them ready for sale. Debts that will be paid in longer than one year. ABC Mart received a $20 freight bill for merchandise it purchased with freight terms of FOB shipping point. |--|--| |Current payables| 88,000| Divide. a. The correct entry would be a. Former's management has made the following budget estimates regarding operations for the current quarter: Purchased stock for cash 2. The changes in equity for a period of time (same period as income statement). e. What is the probability that the random variable $X$ is greater than$20 ?$. Select the best choice from among the possible answers given. Debit Cash $980; debit Sales Discounts $20; and credit Accounts Receivable $1,000. 2. d. a liability. C. debit Depreciation Expense; credit Building. Determine which of the following statements are correct regarding the adjusting entries for a merchandiser and a service business. Which of the following is not a Wellcare quality driver? Sales on installment. c. Finished goods. $$ At the beginning of the current quarter, the company reports the following selected account balances: ABC Mart uses a perpetual inventory system. By contrast, it is harder to understand __________ conditioning because the organism moves from a(n) __________ situation to another ___________ situation. \text { City } & \begin{array}{c} | APR. The cost disadvantage is known as diseconomies of scale. A state agency brings a lawsuit against an agency in another state, This excerpt from the textbook describes how the Senate, Considers the preferences of senators regarding judges serving in their state. Contributed Capital: Owners investment back into the company when purchasing stock. 7.65% of $31,745. Took out a loan from the bank How will Jo's Market record the customer payment on June 8? The beneficiary (or their authorized representative) must indicate the product types to be discussed during the appointment on the Scope of Appointment (SOA). The following data have been reported for a sample of $10$ major U.S. zoological parks: b. FILE QuickFix. Because all of the company's sales are made to government agencies, it experiences virtually no uncollectible accounts. Corporations can raise large amounts of capital generally easier than partnerships can. A chapter in the book discusses the nature of problem recognition. \end{array} All PDPs will feature a $0 tier 1 benefit when filled at preferred pharmacies. (1) The issuance of the bonds on January 1, 2014. Study with Quizlet and memorize flashcards containing terms like Correctly label the following anatomical features of the surface of the brain., Correctly label the following meninges of the brain., Place a single word into each sentence to make it correct, then place each sentence into a logical paragraph order describing the flow of cerebrospinal fluid. $$ Former's minimum cash balance requirement is $\$ 10,000$. vi. 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. 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. \begin{array}{ccccc} Revenues are Which one of the following is a capital budgeting decision? It is relatively easy to understand the procedure underlying (escape/avoidance) conditioning because the organism moves from a(n) ____________ situation to a non__________ situation. In each of the following situations, determine the amount of the deductible health insurance premium for 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 Any request or distribution of PHI should contain only the minimum amount of PHI required to complete the intended task. The goods were shipped to the buyer (FOB shipping point) for a cost of $400. \boldsymbol{x}_1= \\ Prepare a direct materials budget for the second quarter. \end{array} & \begin{array}{c} viii. d. Salaries owed to employees, $850. If payment is made on December 16, demonstrate the required journal entry to record under the perpetual inventory system. Would you focus on the actual state or the desired state? Returned defective goods purchased on credit to the supplier. 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. Prior to completing the enrollment form, you should always confirm the beneficiary's primary care physician (PCP) and/or specialists. Study with Quizlet and memorize flashcards containing terms like Indicate which of the following accounts will *never require an adjusting entry*. f. Depreciation on equipment, $ 12,000. A company has some leeway to choose its depreciation method, which modifies the depreciation expense reported on the income statement. \end{array} & \begin{array}{c} Study with Quizlet and memorize flashcards containing terms like b, e, c and more. ", For laws to be effective, there must be courts to interpret them consistently. Exercise 2. ||Market failure| d. What is the probability that the random variable $X$ is between $10$ and $30?$ Select the item below that would appear ONLY on a merchandiser's balance sheet. d. increase in the market value per share. The credit terms stand for net 15 days after end of month. The person is named to the bench by the president and confirmed by the Senate. 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. 1. She proposes the following. Salaries Expense c. Cash d. Fees Earned, Which statement is true regarding the *cash basis of accounting*? Which U.S. federal court does this excerpt from the textbook describe? 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. Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. Value Script and Value Plus PDP products have a ___-tier formulary structure for 2023. 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 \text { Rod } & \$ 6.50\\ No other incentives or discounts were available. 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. Brokers/Agents can submit a support ticket online through their Centene Workbench portal. 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. CH. $$ Of those miles, $27 \%$ were for her job. 2. 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? The remaining 35 percent are collected in the following quarter. 8 & 26.0 & 2.5 & 91 & 759 \\ Medicare Star Ratings and performance are at the forefront of Wellcare's quality strategy. and more. |Accounts receivable| 210,000| How has the Lemon test affected Supreme Court rulings about public aid to church-related schools? . | :---: | :---: | Clarice Johnson put 1,489 miles on her car in June. |Sales (estimated)| $\$500,000$ | Which of the following actions are you required to do when contacted regarding an allegation of noncompliant activity? Compulsive Shopping: An unhealthy obsession with shopping that materially interferes with the daily life of the afflicted. D. margin of safety. C. A dispute of the appeal of an organization determination, coverage determination or a Late Enrollment Penalty (LEP) determination. (a) Write the mathematical formula for a standardized variable and more. 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? If just two items are sold the unit cost of promotion is half a million pounds. 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. Health plan fax numbers vary for health plans that offer fax enrollment submissions. The Single Sign-On Portal provides access to several applications, including Centene Workbench. There are ___ LIS copay categories that could be assigned to a member, depending on the level of need. 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. During an appointment, you may not discuss any products not agreed to in advance by the beneficiary. Low-Income Subsidy (LIS)/Medicaid Lookup status verification in Ascend is: Although options for capturing and submitting SOAs vary by health plan, Wellcare accepts SOAs in which of the following methods? The original cost of the goods was $400. Coordinating large numbers of staff becomes a challenge. b. Unearned Revenue that has been earned,$400. 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. Sales Discount is a contra-_____ (expense/ revenue/ asset) account and is increased with a _____ (debit/ credit). \text { Species } 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. Determine which of the statements below are CORRECT, when a company, using the periodic inventory system, completes a worksheet. ____ PDPs will be offered across all 50 U.S. states and Washington, D.C. All PDPs will continue to offer $0 tier 1 preferred cost-sharing through CVS Medication Home Delivery (Mail Order). the term used to refer to the loss of inventory due to theft, breakage or deterioration. a. Select the correct entries below: List the financial statements of a merchandiser. A business created as a distinct legal entity and treated as a legal "person" is called a: Which one of the following is a capital structure decision? Question options: The stable environment of a company is only related to the external factors affecting the company, whereas the dynamic (cost + residual value)/service life. The economic resources owned by a business (ASSETS). Raw materials. Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Carl S Warren, James M Reeve, Jonathan E. Duchac, The dollar amount that provides for covering fixed costs and then provides for operating income is called: 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? and the result will be a low figure. - Compute and interpret probabilit a. $$ Paid income taxes Explain. 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. 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? X-Mart uses the perpetual inventory system to account for its merchandise. 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. The NEW online Centene Workbench self-service portal enables you to: What are some examples of steps that can be taken when safeguarding and securing PHI and PII? 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. On Dec 7, Toys R Fun purchased $1,000 of merchandise items with terms of 2/10,n/30. Exercise 5. The Donut Stop purchased land and a building for $2 million. X Mart uses the perpetual inventory system to account for its merch. On May 1, it returned $50 of merch due to a defect. Rename the improper fraction as either mixed number or whole number. e. One month of Prepaid Rent has expired,$2,700. Provides info about: Statement of Cash Flows: Operating Activities. Which one of the following is a working capital management decision? On May 14, X Mart purchased $500 of merch with terms of 3/15,n/40. What were Keynes's three conjectures about the consumption function? The financial statement that shows the profitability of the company for a period of time. Beginning inventory + net purchases = Merchandise available for sale. Section 5.9: Accident Investigation Data. A merchandiser has four closing journal entries at the end of an accounting cycle. A broker/agent who has never had any verbal warnings cannot be issued a Corrective Action Plan. 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. d. 2 & 40.0 & 2.0 & 216 & 400 \\ Demonstrate the required journal entry to record the sale and cost of the sale. The remaining $\$ 360,000$ is to be financed with current payables. 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 4. Salaries Payable b. f. Depreciation on equipment, $ 12,000. c. cost/service life. and more. 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. Page 285: Applications. Study with Quizlet and memorize flashcards containing terms like Generally, people buy one product or service instead of another because they perceive it to be a better value., The consumer decision process begins with a comparison of available alternatives., The greater the difference between a consumer's unsatisfied need and the desired state, the greater the need recognition | Demand | 255 | 294 | 321 | 301 | 330 | 320 | 345 | 340 | a. Which of the following statements about Scope of Appointment (SOA) is FALSE? There is no beginning or ending inventory in stock, and no backorders are permitted from period to period. Merchandise inventory is an asset reported on the balance sheet and contains the cost of products purchased for sale. True b. 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. Which one of the following terms is defined as a conflict of interest between the corporate shareholders and the corporate managers? | Overtime | 20 | 24 | 26 | 24 | 30 | 28 | 30 | 30 | $$. Which of the statements below summarize why a buyer would desire a purchase allowance? 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. Unlike net income, OCF excludes non-cash items like depreciation and amortization, which can misrepresent a company's actual financial position. (A) What is the monthly payment for the $30$-year choice? (4) Accrual of interest and amortization of the premium on December 31, 2015. In a new housing development, the houses are selling for $\$ 100,000$ and require a $20 \%$ down payment. The data needed to determine year-end adjustments are as follows: a. | Subcontract | 12 | 16 | 15 | 17 | 17 | 19 | 19 | 20 | However, the benefits of becoming bigger can mean a fall in the average cost of making one item. 1. a. Once the enrollment is completed, you can save a copy of the application for your reference. Which one of the following best describes the primary advantage of being a limited partner instead of a general partner? Create a cartoon that illustrates the use or one of the defense mechanisms discussed in this section. A single-step income statement can be identified by? 10 & 14.6 & 1.1 & 92 & 260 What is the minimum amount she must withdraw from the investment this year? 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. When a paper SOA form is used, it must be completed __________ hosting the sales presentation. Depreciation of equipment for the year,$2,800. demonstrate how to use the It shows only one total for all expenses. On June 1, it sold $7,000 of merchandise for cash. ____ new Wellcare and Ascension Complete plans are going to market. e. One month of Prepaid Rent has expired,$2,700. d. Salaries owed to employees, $850. Which standalone Prescription Drug Plan is best for a dual-eligible chooser? Match the special journal you would use to record the following transactions. Test your understanding of accounting for liabilities by answering the following questions. On June 5, Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. 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? Brokers/Agents must meet all required contracting, training, and certification requirements to be eligible to sell Wellcare's Medicare Products. D. debit Depreciation Expense; credit Accumulated Depreciation. The company's debt ratio (liabilities $\div$ assets) is currently 80 percent. ______ 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. a. \boldsymbol{x}_2= \\ She feels that she can disclose one figure titled "Property, plant, and equipment, net of depreciation." If she chooses to show the cost less accumulated depreciation, the age of the assets will be apparent. b. Work-in-process. A business formed by two or more individuals who each have unlimited liability for all of the firm's business debts is called a: a. determine how a corporation regulates itself. Assets that are expected to either be converted into cash or expire (be used up) within one year of the balance sheet. Paid the phone bill Tien Kuo celebrated her eighty-fourth birthday on January $3$. and more. f. Discuss problems Former might encounter in obtaining short-term financing. Depreciation of building for the year, $6,400. \hline x & 15 & 22 & 34 & 40 \\ x_3= \\ The difference between net sales and the cost of the goods sold. Journal entry worksheet: Record the entry for supplies used during the year., 2. A customer returned some merch due to a defect. Let the production (workforce) vary by using regular time first, then overtime, and then subcontracting. Ascend is a fast, easy, and compliant way for brokers/agents to submit agent-assisted electronic enrollments. \end{array} & \begin{array}{c} Demonstrate the required journal entry to record the return on the books of the seller, assuming the goods can be sold to another customer. Journalize any necessary reversing entries for Krisp Architects. The original cost of the merchandise to X-Mart was $500. 5: PROBABILITY - Apply the rules of probabilities. The company's ending prepayments balance is expected to be the same as its beginning prepayments balance. ii. Which one of the following statements concerning a sole proprietorship is correct? How will Jo's record the customer's payment on June 8? v. Purchased inventory with credit terms n/90 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. $$. Many economies of scale are about spreading fixed costs more thinly. c. an expense. - Compute and interpret probabilities using the empirical method. False, When a paper SOA form is used, it must be completed _____ hosting the sales presentation. Round to the nearest cent. x. The cost of producing each unit is $\$ 1,000$ on regular time, $\$ 1,300$ on overtime, and $\$ 1,800$ on a subcontract. Paid employee wages 4 & 14.0 & 1.0 & 125 & 277 \\ It is an inventory system that updates the accounting records for merchandise transactions ONLY at the end of a period. The _________ plan is expected to have one of the lowest premiums in the country! From October 1st to October 14th, which activity is not permissible by brokers/agents? Debts owed by the business; represents creditors' claims against the company's assets. B. debit Accumulated Depreciation; credit Depreciation Expense. Study with Quizlet and memorize flashcards containing terms like Jose purchased a delivery van for his business through an online auction. When a buyer returns or takes an allowance on merchandise, the _____ (buyer/ creditor/ seller) issues a debit memorandum to inform the _____ (seller/ creditor/ buyer) of a debit made to the seller's account in the buyer's records. Big businesses can develop many levels of hierarchy which slow down communication or even lead to miscommunication. Study with Quizlet and memorize flashcards containing terms like Which one of the following statements concerning a sole proprietorship is correct? Enrollments through Ascend offer the following unique benefits: Information Technology Project Management: Providing Measurable Organizational Value, Service Management: Operations, Strategy, and Information Technology, Operations Management: Sustainability and Supply Chain Management, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Convert each of the following estimates of useful life to a straight-line depreciation rate, stated as a percentage: 50 years. Amount earned during the accounting period (year); may result from sale of merchandise, services, rental of property, or lending money. Recorded depreciation on the factory equipment An end-of-period adjusting entry that debits Unearned Revenue most likely will credit a. a revenue b. an asset. Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the effects of the passage of time. ..associate with the sources of funding the business. 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. Exercise 4. His winning bid for the van was $24,500. Which one of the following terms is defined as the mixture of a firm's debt and equity financing? 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? \text { of } \\ b. Graphically depict this probability distribution. However, it will not disclose the age of the assets. Dogs R Us uses the perpetual inventory system to account for its merchandise. "Laws are a dead letter without courts to expound and define their true meaning and operation. Exercise 1. | :---: | :---: | Identify the items or sub-headings below that would appear on a multi-step income statement. C. Sales Journal i. 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 when the bin is full, it is sent to a TSDF for disposal. Prior to b. 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 functions should be the responsibility of the controller rather than the treasurer? All of Former's sales are on account. QN=1 45 Which of the following statements is true? Based on the quote, how does the Supreme Court interpret the Second Amendment? Merchandise businesses make adjustments for shrinkage. a reduction in the selling price of defective or unacceptable merchandise sold to customers. |Tax liability payment (estimated) | 45,000 | Electro Company budgets production of 450,000 transmissions in the second quarter and 520,000 transmissions in the third quarter. 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