Ellie has a rough December and racks up the following services: Radiology and diagnostictests (allowable charges $1, 200), one ER visit (allowable charges $3,000), two visits to herprimary physician (allowable charges $200), 3 prescriptions (2 generics and 1 formulary).Through November, Ellie had satisfied $2,500 towards her deductible. All services were in -network. How much is Ellie obligated to pay?

To determine how much Ellie is obligated to pay, we need to consider the allowable charges, Ellie's…

Answered: Ellie has a rough December and racks up…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ms. Daphnee Rosagas needs 5,500 on August 19, 1991 for her children's school expenses. She plans to repay the money on December 6, 1991. What size of loan should she request from the Employees Credit Cooperative if the interest in advance is 6 3/8% (Simple Discount)
3. On December 30, Nancy Sheridan hired an employee, Tom Shanahan, to help her with the medical billing. His first weekly pay period ends January 7 and he will be paid on January 14. He earns $17.25 per hour. During the 40-hour weekly pay period, Tom worked 48 hours. His Federal income tax is $122. Social Security tax is 6.2% and Medicare tax is 1.45%. a. Compute Tom's pay as of January 7. Regular earnings Date Overtime earnings Gross pay (Wages Expense) b. Record the General Journal entry for Tom's January 7 pay. Date Description Social Federal income tax Security payable tax payable Description Debit Medicare tax payable c. The FUTA rate for Sheridan is 0.6% and the SUTA rate is 5.4%. Record the General Journal entry for the January 14 employer's share payroll taxes. Debit Credit Net pay (Wages payable) Credit
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Ali is a member of a family that consists of him, his father, his mother and his older brother. Each member of the family has his own mobile phone. Each mobile phone is on a post-paid plan, for which a monthly bill is received at the end of each month. The electricity, on the other hand, is provided to the entire house in general, with one bill is received at the end of each month. The father has recently received the electricity bill for the month. and wishes to do some analysis of electricity consumption. Assuming that the value of the electricity bill is calculated based on a constant monthly subscription fee. In the above information, the cost of electricity to Ali is: a. A direct fixed cost O b. A direct, variable cost OC. An indirect fixed cost d. An indirect, variable cost e. An indirect mixed cost O O O O
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Ali is a member of a family that consists of him, his father, his mother and his older brother. Each member of the family has his own mobile phone. Each mobile phone is on a post-paid plan, for which a monthly bill is received at the end of each month. The electricity, on the other hand, is provided to the entire house in general, with one bill is received at the end of each month. The father has recently received the electricity bill for the month. and wishes to do some analysis of electricity consumption. Assuming that the value of the electricity bill is calculated based on a constant monthly subscription fee. In the above information, the cost of electricity to Ali is: O a. A direct fixed cost O b. An indirect, variable cost C. O c. An indirect fixed cost O d. Adirect, variable cost O e. An indirect mixed cost
Deja owns a photo printing business and wants to purchase a new state-of-the-art photo printer that she found online for $9,275, plus sales tax of 5.5%. The supply company is offering cash terms of 2/15, n/30, with a 1.5% service charge on late payments, or 90 days same as cash financing if Deja is approved for a company line of credit. If she is unable to pay within 90 days under the second option, she would have to pay 22.9% annual simple interest for the first 90 days, plus 2% simple interest per month on the unpaid balance after 90 days. Deja has an excellent credit rating but is unsure of what to do. a) If Deja took the cash option and was able to pay off the printer within the 15-day discount period, how much would she save? How much would she owe? b) If Deja takes the 90 days same as cash option and purchases the printer on December 30 to get a current-year tax deduction, using exact time, what is her deadline for paying no interest in a non-leap year? In a leap year?
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