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Fargo Memorial Hospital has annual net patient service revenues of $14,400,000. It has two major third-party payers, plus some of its patients are self-payers. The hospital's patient account manager estimates that 10 percent of the hospital's paying patients (its self-payers) pay on Day 30, 60 percent pay on Day 60 (Payer A), and 30 percent pay on Day 90 (Payer B). (Five percent of total billings end up as bad debt losses, but that is not relevant for this problem.)
What is Fargo's average collection period? (Assume 360 days per year throughout this problem.)
What is the firm's current receivables balance?
What would be the firm's new receivables balance if a newly proposed electronic claims system resulted in collecting from third-party payers in 45 and 75 days, instead of 60 and 90 days?
Suppose the firm's annual cost of carrying receivables was 10 percent. If the electronic claims system costs $30,000 a year to lease and operate, should it be adopted? (Assume that the entire receivables balance has to be financed.)
magrath company has an operating cycle of less than one year and provides credit terms for all of its customers. on
Compute the amount of realized gross profit to be recognized on the 2011 income statement, prepared using the installment-sales method and compute the amount of realized gross profit to be recognized on the income statement, prepared using the cos..
Evaluate the effect on classification, carrying value, and earnings for each of the given situations. Discuss whether U.S. GAAP under SFAS No. 115 or the needs of IAS.
The liquidity premium on a US Treasury debt security is normally considered to be: a-4 percent b-3 percent c-2 percent d-1 percent e-0 percent
Jonas won a lottery that will pay him $200,000 at the end of each of the next twenty years. Zebra Finance has offered to purchase the payment stream for $2,718,000. What interest rate (to the nearest percent) was used to determine the amount of t..
A company reports the following operation results for sales for 1 month: sales $310,000 (units 5000); variable cost $210,000; and fixed cost $75,000. If they take 3 different courses of action which will produce the highest income? Compute the net in..
Lara's employer has a 40 percent marginal tax rate. Ignoring payroll taxes, illustrate what is the maximum amount of before-tax salary Lara would give up to receive health insurance?
Hughey uses the effective-interest method of amortization and sum-of-the-years'-digits depreciation (no residual value). Instructions (Round to the nearest dollar.) Prepare an amortization table for 2011 and 2012.
Which of the following items are considered earned income for earned income credit purposes? Taxable pension income (disability benefits) received before reaching minimum retirement age.
Use textbooks or Internet sources for information on the format and contents of a statement of cash flows. To complete this problem, you may wish to use the Excel template provided in the resources.
The product sells for $100 per unit, variable expenses are $30 per unit, and fixed expenses are $1,500 per month. The finished product requires 3 units of raw material and 10 hours of direct labor.
Read the following scenario for the selected organization:Risk involves uncertainty, the lack of knowledge of future events, and the measures of profitability and consequences of not achieving the project goal. Your organization has decided that to b..
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