BUSINESS COLLEGE

The benefits and detriments of using electronic records EHR for your patience

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Answer 1
Answer: EHR's provide quick and easy access to patients records. It also reduces the need for paper charts and filling space. The chances of losing a single document gets reduced as well since files are saved on a server. Information is stored more neatly and easily identifiable.However, if the server crashes or gets hacked the patient information is either lost or completely compromised. Servers go down and have bugs which can delay access to information that is immediately needed. Servers also need constant maintenance.

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Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $35 per share. February 6 Issues 3,000 shares of 8% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $40 per share. December 15 Resells 5,500 shares of treasury stock at $45 per share. In its first year of operations, Finishing Touches has net income of $160,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $2,400 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

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Answer:

See explaination and attachment

Explanation:

Stockholders' equity is the amount of assets remaining in a business after all liabilities have been settled. It is calculated as the capital given to a business by its shareholders, plus donated capital and earnings generated by the operation of the business, less any dividends issued.

Balance Sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

See attachment for the step by step solution of the given problem.

Final answer:

The total stockholders' equity for Finishing Touches as of December 31, 2021, is calculated by adding the value of issued common and preferred stocks, and adjusting for treasury stocks and retained earnings. The total is $3,403,600.

Explanation:

The stockholders' equity section of Finishing Touches as of December 31, 2021, includes several items. These include the issuance of common stock, issuance of preferred stock, purchase and resale of treasury stock, the net income, and the payment of dividends. Let's break them down:

  • Common Stock: 100,000 shares were issued at $35 per share, amounting to $3,500,000.
  • Preferred Stock: 3,000 shares were issued at $11 per share, amounting to $33,000.
  • Treasury Stock: The company bought 11,000 shares at $40 per share (creates a decrease in equity amounting to -$440,000) and sold 5,500 of these shares at $45 per share (creates an increase in equity of $247,500). The net decrease in equity due to treasury stock transactions is -$192,500.
  • Retained Earnings: The company earned net income of $160,000 but paid out dividends ($94,500 to common stockholders and $2,400 to preferred stockholders), resulting in an increase in retained earnings of $63,100.

So, the total stockholders' equity for Finishing Touches as of December 31, 2021, would be $3,403,600 ($3,500,000 + $33,000 - $192,500 + $63,100).

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Most states restrict the number of hospitals in a given geographic area under "Certificate of Need" (CON) laws. These laws require any new hospital facility to provide evidence that there is a demand for its facility that is not currently being met by the existing healthcare facilities in that geographic market. Identify the market inefficiency that these CON laws are trying to fix.

How does restricting the number of hospitals correct this inefficiency? Explain briefly.

Answers

Answer: The answer is provided below

Explanation:

The certificate of need, is a legal document in the United States that is required in many states and federal jurisdictions before proposed expansion, acquisitions, or the creations of healthcare facilities will be allowed.

a. The market inefficiencies which will be eliminated by the certificate of needs laws are that:

The absence of certificate of needs laws will have resulted in an unregulated market competition among the hospitals. This competition could result into medical providers over-investing in medical equipments and facilities. This will lead to an increase in the demand for the equipments which in turn, leads to rise in the equipments costs and the burden caused by the rise in price is shifted to the patients in form of high prices which could lead to exploitation.

b. Restricting the number of hospitals can correct this inefficiency because the laws will help reduce competition among the hospitals which will help reduce demand for healthcare equipments.

This will help in pushing the market toward equilibrium over time whereby healthcare delivery are more affordable to people.

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $348,400 and direct labor hours would be 47,000. Actual manufacturing overhead costs incurred were $304,000, and actual direct labor hours were 52,400. The journal entry to apply the factory overhead costs for the year would include a

Answers

Answer:

Journal Entry

Debit Work-in-Process $388,284

Credit Manufacturing Overhead $388,284

To record the application of factory overhead costs for the year.

Explanation:

a) Data and Calculations:

Estimated factory overhead costs = $348,400

Estimated direct labor hours = 47,000

Predetermined overhead rate = $7.41 ($348,400/47,000)

Actual overhead costs = $304,000

Actual direct labor hours = 52,400

Applied overhead costs = $388,284 (52,400 * $7.41)

b) The overhead applied to the production for the year will be the actual direct labor hours by the predetermined overhead rate.  This yields a cost that is greater than the actual overhead costs, which means that the manufacturing overhead was overapplied.  The cause of this situation is the number of actual direct labor hours worked vis-a-vis the actual overhead costs and the predetermined rate.

FarCry Industries, a maker of telecommunications equipment, has 6 million shares of common stock outstanding, 1 million shares of preferred stock outstanding, and 10 thousand bonds. If the common shares are selling for $27 per share, the preferred shares are selling for $15 per share, and the bonds are selling for 119 percent of par ($1,000), what weight should you use for debt in the computation of FarCry's WACC?

Answers

Answer:

Market value of common stock (6,000,000 x $27) =$162,000,000                                                                

Market value of preferred stock (1,000,000 X $15) = $15,000,000                                                                

Market value of debt (10,000 x $1,190)                    =  $11,900,000

Market value of the company                                      $188,900,000

Weight of debt in the capital structure

= $11,900,000/$188,900,000 x 100

=  6.299% = 6.30%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

Explanation:

In this case, there is need to calculate the market value of the company, which is the aggregate of market value of common stock, market             value of preferred stock and market value of debt. The market value of each stock is obtained by multiplying the number of units outstanding by the current market price per stock.  The weight of debt is determined by                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                dividing the market value of debt by the market value of the company.                                                                                                                                                                                                                                                                                                                                                                                                                    

Will Presley sells management training classes to entrepreneurs and Fortune 1000 companies.Last quarter his sales were very disappointing.When asked,he admitted that his poor performance was directly related to his wife having a new baby.He had not the time to devote to sales that he should have.As a result of Will's poor performance in the last quarter,which of the following is likely to occur? A) His expectancy estimates will be higher and his instrumentality estimate will remain the same
B) His instrumentality estimates will be lower and his expectancy estimates will remain the same
C) His expectancy estimates for the next quarter will be lower
D) Neither her expectancy nor instrumentality estimates will change
E) His expectancy estimates for the next quarter will be higher

Answers

Answer:

Option E

His expectancy estimates for the next quarter will be higher

Explanation:

Will Presley's expectancy rate will be higher in the next sales quarter. This is because he feels that the birth of his new baby is instrumental to his his poor sales performance. Now that he feels that factor has been taken out of the way, he expects that there will be a great increase in the next sales quarter.

Which of the following is an example of a middle manager?Teller at a bank
O Director of marketing
O Chief executive officer
O Salesperson in a retail store

Answers

The Director of marketing is an example of a middle manager. Thus, option B is correct.

Who is a manager?

A manager is a person who maintains the flow of the business, he is responsible for the smooth running of the business and coordinating between various departments. A manager tends to be the person who is delegating and is responsible for coordinating.

According to the hierarchical positions of the company, there are various positions that need to be filled like workers, staff, managers, executive managers, head of an office, CEO, etc.

From the given options, the middle manager will be the director of marketing the teller of the bank comes at a lower level, the chief executive officer will be at the top most level, and a salesperson will be at the lower middle level.  Therefore, option B is the correct option.

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Answer:

Director of marketing

Explanation:

I just got it right in a test

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