Nancy Jackson, M. D., maintains the accounting records of Jackson Clinic on a cash basis. During 2020, Dr. Jackson collected $147,355 from her patients and paid $50,647 in expenses. At January 1, 2020, and December 31, 2020, she had accounts receivable, unearned service revenue, accrued expenses, and prepaid expenses as follows. (All long-lived assets are rented.) January 1, 2020 December 31, 2020 Accounts receivable $8,544 $17,388 Unearned service revenue 2,805 4,302 Accrued expenses 3,679 2,129 Prepaid expenses 1,802 3,067 Prepare a schedule that converts Dr. Jackson's "excess of cash collected over cash disbursed" for the year 2020 to net income on an accrual basis for the year 2020. NANCY JACKSON, M. D. Conversion of Cash Basis to Accrual Basis For the Year 2020 Excess of cash collected over cash disbursed $ 96708 Less : Increase in accounts receivable 9 8844 8844 Add : Increase in unearned service revenue 1497 Add : Decrease in accrued expenses 1550 Add : Increase in prepaid expenses 1265 Net income on an accrual basis Net income on an accrual basis $ 92176

Morgana company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $168,000, $315,900, an $97,200, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,100, machine hours 24,300, and number of inspections 1,800. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer