Millbridge hospital buys its supplies in bulk and has recently
MHA-5001 Unit V Homework Assignment
On page 251 in your textbook, fascinate exhaustive examples 7-29 through 7-33 listed beneath for unoccupied-time. Compile your tallys in a Word document, and upload it in Blackboard.
Answer the forthcoming examples:
7-29. Millbridge Hospital buys its preparation in dimension and has of-late switched vendors. The highest forfeiture Millbridge made was for 500 boxes of gauze at $3.46 a box. The forfeiture had reimbursement stipulations of 2/15 N/30. Millbridge earns impure percent on its useclose money. Should it admit the discount or not? Justify your tally by showing calculations. (Refer to Appendix 7-B to explain this example.)
7-30. Meals for the Homeclose usually experiences seasonality in its money balances. In December, contributions from donors growth its money balances, and then these balances are used throughout the forthcoming year. By the lapse, Meals for the Homeclose has a stretched money career. It has a verse of confidence delay its bank, which allows it to drag up to $500,000 at seven percent share per year. During 2013, Meals for the Homeclose drags down $135,000 on October 1 and repays it at the initiate of office on January 3, 2014—exactly 94 days after. How plenteous should it pay tail on January 3, and how plenteous of that is share?
7-31. Meals for the Homeclose has manifold sources of allowance, but they pay Meals very unequally. Specifically, Meals has contracts delay the city, county, and declare to cater influence services. In individualization, Meals has contracted delay a retired ground to increase its influences delay over salutiferous options. The city owes Meals $400,000, half of which is present, one-quarter is over than 30 days but close than 61 days old, 15% is among 61 and 90 days old, and the residue is over than 91 days old. The county owes Meals $900,000, singly one-third of which is present, another one-third is over than 30 days but close than 61 days old, and the residue is over than 90 days old. The declare owes Meals $1.5 darling, 40% is present, 30% is among 30 and 60 days old, 20% is among 61 and 90 days old, and the residue is over than 91 days old. The ground owes Meals $150, 000, of which half is present and the other half is over than 30 days but close than 61 days old. Prepare an accounts-receivable aging schedule for Meals by aggregate dollars and percent.
7-32. Millbridge Hospital receives earned allowance from separate sources: Medicare, Medicaid, retired security, and self-pay customers. The federal empire owes the hospital $7 darling, 60% is present, 30% is among 31 and 61 days old, and the fostering 10% is among 61 and 90 days old. The declare owes the hospital $5 darling for Medicaid, 40% of which is present, 30% is among 31 and 60 days old, 20% is among 61 and 90 days old, and the residue is over than 91 days old. Retired security owes the hospital $4 darling, half of which is present, 25% is among 31 and 60 days old, and the fostering percent is over than 91 days old. Self-pay customers owe $1 darling, 30% is present, 40% is 31 to 60 days old, 10% is 61 to 90 days old, and the residue is over than 91 days old. Prepare an accounts-receivable aging schedule by aggregate dollars and by percent.
7-33. Millbridge Hospital buys 10,000 boxes of latex gloves complete year. Each box absorbs the hospital $7 dollars. The absorb to settle an prescribe for the gloves—which covers the employee staff space, shipping absorbs, the hospital’s receiving interior for scheduleing, for example—is estimated at $50 dollars per prescribe. Carrying absorbs (for storing the boxes, verifying the schedule periodically, etc.) are estimated at 50 cents per box per year. Millbridge uses a six percent share-absorb selfreliance in its calculations. How manifold boxes should be prescribeed at a space? How manifold prescribes per year should there be? What are the aggregate prescribeing and carrying absorbs at the EOQ (economic prescribe share)? Contrast these absorbs at the EOQ to the aggregate absorb if all boxes were solely prescribeed at the initiate of the year. (Refer to Appendix 7-A to explain this example.)
Unit V Discussion Board Question
Why is it dignified to congregate accounts receivable as promptly as practicable?
Do you respect the Sarbanes-Oxley Act caters abundance shelter for whistle-blowers delayin an construction? Why, or why not? Be unquestioning to suit to at lowest one other novice on the board.