Chisos Mountain Case Instructions Spring 2023
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HSAD 370 Healthcare Budgeting and Reporting
Spring 2023
Extra Credit: Chisos Mountain Case Study
Textbook (p. 463-480)
Student Instructions:
Please complete questions 1 & 9 of the Chisos Mountain Case Study in your textbook (pages 463-480) using the Excel templates provided. All answers for this case should be filled into the provided Excel templates. Make sure to read the case in its entirety before you begin to answer the questions.
For Question 1 (p.464), you only need to answer the following:
After reading the case, please develop a non-GAAP (generally accepted accounting principles) statement of operations (start with gross patient service revenue) for FY2020.
There is no need to develop questions, a balance sheet or ratio analysis as indicated in the textbook. You only need to fill out the blue cells in the excel templates.
For Question 9 (p.467), you only need to answer the following questions/bullets:
For FY 2021:
Develop a revenue budget and four expense budgets in statement of operations format. (No footnotes are needed for these questions. Please only fill in the blue cells in the templates.)
Expense Budget Scenarios (There is a different excel sheet for each scenario already provided.)
1.
Increase rates the maximum allowed and increase expenses the maximum requested.
2.
Increase rates the maximum allowed and maintain expenses at FY 2020 levels after adjusting for volumes
3.
Increase rates the maximum allowed and cut expenses to break even in FY 2021
4.
Increase rates the maximum allowed and cut expenses to recover FY 2020 losses.
Excel Template Instructions:
When you open the templates, please do not change
any of the formulas on the first sheet titled “Student Answer Sheet”. All numbers will be updated and input automatically as you go through the case. You are required to fill in only the BLUE cells in the templates
. Do not modify any cell highlighted yellow, as these calculations have already been provided for you. All of the numbers you will need to use
in your calculations have been provided on the "Case Information" sheet. Read the case carefully, and for hints, please check the 'comments' in the boxes with a red triangle in the top righthand corner.
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Information pertaining to Noskey Corporation's sales revenue follows:
November 2021
(Actual)
$ 180,000
December 2021
(Budgeted)
$ 160,000
500,000
January 2022
(Budgeted)
Cash sales
000'09
$ 540,000
Credit sales
$ 360,000
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Total sales
000'099 2$
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Analysis of Receivables Method
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b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
Accounts Receivable
Allowance for Doubtful Accounts
Bad Debt Expense
c. Determine the net realizable value of accounts receivable.
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The analysis of receivables method is based on the assumption that the longer an account receivable is outstanding the less likely that it will be
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For the month of October, calculate the amount of revenue that Heartstrings will recognize.
10,956 X
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Apply the revenue recognition principle, which states that revenue is recognized when earned and the collection of cash is reasonably assured.
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Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of
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a.
$45
b. $230
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a.
$45
b.
$230
C.
$500
d. $1,000
r for a small nrocedure costing $1,000 what percentage of the me
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Percent of Sales Method
At the end of the current year, Accounts Receivable has a balance of $555,000; Allowance for Doubtful Accounts has a credit balance of $5,000; and sales for
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a. Determine the amount of the adjusting entry for uncollectible accounts.
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
Accounts Receivable
24
Allowance for Doubtful Accounts
Bad Debt Expense
%24
c. Determine the net realizable value of accounts receivable.
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a. Remember that since accounts receivable are created by credit sales, uncollectible accounts çan be estimated as a percent of credit sales. If the
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Personal Budget
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on December 31 to pay the spring semester tuition, which is the same as the fall tuition The following information relates to the budget:
$6,210
Cash balance, September 1 (from a summer job)
80
Purchase season football tickets in September
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Additional entertainment for each month
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Pay fall semester tuition in September
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170
Pay for food each month
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Pay apartment deposit on September 2 (to be returned December 15)
770
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Summary:
On Chapters 9, 10, and 11:
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a) Will credit cards help? The average undergraduate student leaves college with a diploma and
around $2750 in credit card debt (graduate students; $4800). Suppose you have a credit card with a
balance of $2750 and an interest rate of 19.8% APR. The minimum payment is $45.00. The amount
of interest due each month is figured as current balance
where r is the rate (decimal form) and n is
12. Fill in the table, making minimum payments.
Current
balance
Month
Interest
Payment
Amount applied to principal
1
$2750.00
$45.38
$45.00
-$0.38
$2750.38
$45.00
$45.00
4
$45.00
$45.00
$45.00
$45.00
8.
$45.00
9.
$45.00
10
$45.00
11
$45.00
12
$45.00
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Chapter 9 Quiz
OA. $18,200
OB. $18,800
OC. $17,500
O D. $20,300
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Buddy Company uses the allowance method to account for uncollectible receivables. At the beginning of the year,
Allowance for Bad Debts had a credit balance of $800. During the year Buddy wrote off uncollectible receivables of
$2,100. Buddy recorded Bad Debts Expense of $2,800. Buddy's year-end balance in Allowance for Bad Debts is
$1,500. Buddy's ending balance of Accounts Receivable is $20,300. Compute the net realizable value of Accounts
Receivable at year-end.
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Required:
Share your responses to the following questions with your classmates. Based on your reading:
1. Do you think Granger Stokes is using budgets appropriately?
2. What sort of behavioral consequences may occur as a result of the way budgets are used at Prime Drive?
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An invoice for OMR 600 dated March 10th with the terms 5/15 EOM is recerved. The bill is paid on April Sth.
Find the net payment.
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Select one:
O a. 570
O b. 30
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Main Street Bank has savings accounts that earn 0.8% interest per month. All deposits, interest payments, and account closures are processed on the first day of a month
Part A
Assume a customer deposits the same amount of money, x, in dollars, each month. Write an expression that can be used to determine how much money would be in a savings account from Main
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Personal Budget
At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough ca
December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:
Cash balance, September 1 (from a summer job)
$9,250
Purchase season football tickets in September
160
Additional entertainment for each month:
250
Pay fall semester tuition in September
4,800
Pay rent at the beginning of each month
600
Pay for food each month.
550
Pay apartment deposit on September 2 (to be returned December 15)
600
Part-time job earnings each month (net of taxes)
1,200
a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a…
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Problem 3-3
Inventories (LO 3.2)
Lawrence owns a small candy store that sells one type of candy. His beginning inventory of candy was made up of
10,000 boxes costing $1.50 per box ($15,000), and he made the following purchases of candy during the year:
March 1
10,000 boxes at $1.60 $16,000
1u
August 15
20,000 boxes at $1.70 34,000
November 20 10,000 boxes at $1.80 18,000
At the end of the year, Lawrence's inventory consisted of 15,000 boxes of candy.
Calculate Lawrence's ending inventory and cost of goods sold using the FIFO inventory valuation method.
Ending inventory $
Cost of goods sold $
b. Calculate Lawrence's ending inventory and cost of goods sold using the LIFO inventory valuation method.
Ending inventory $
Cost of goods sold $
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d) Suppose you begin making a monthly payment of $75.00. Fill in the table.
Current
Month
balance
Interest
Рayment
Amount applied to principal
$2750.00
$45.38
$75.00
$29.62
$75.00
3.
$75.00
4.
$75.00
$75.00
$75.00
$75.00
8.
$75.00
9.
$75.00
10
$75.00
$75.00
11
12
$75.00
e) Will you ever be out of debt? Explain.
Calculation:
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Quiz 2 (Sec. 1.5-1.7)
54 points possible 5/12 answered
Question 6
The graph of the function
y = f(x - 39)
can be obtained from the graph of
y = f(x)
by one of the following actions:
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Oshifting the graph of f(x) to the right 39 units
shifting the graph of f(x) to the left 39 units
shifting the graph of f(x) upwards 39 units
shifting the graph of f(x) downwards 39 units
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Conduct the below exercise
Step-1: Click the link
The student can use any of the below links to download the same
a) https://www.imf.org/-
/media/Files/Publications/WEO/2021/Update/January/English/data/WEOJan2021updat
e.ashx
b) https://www.imf.org/en/Publications/WEO/Issues/2021/01/26/2021-world-economicoutlook-
update
(And click on download data)
Step-2: Answer the below questions
What do you understand by Real GDP? What is the Real GDP Growth Rate of India and
China in 2019? What is the estimated real GDP growth rate of India and China in 2020?
What is the projected real GDP growth rate of India and China in 2021 and 2022?
What is the estimated 2022 GDP Loss (in percentage) in comparison to pre-covid levels
(January 2020 forecast) in China and Other Emerging Economies in Asia other than
China?
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a. Jon is employed at annual salary of $41995. His regular work week is 38 hours and he is paid
semi-monthly
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What is Jon's Gross pay per period?
ii.
What is hourly rate of pay?
iii.
What is his gross pay for a period in which work 12 hours of overtime and he is paid overtime at time and a half of
What is a salesperson's commission on net sales of $17800 if the commission is paid on a
sliding scale of 7%% on the first $7000, 8%% on the next $8000 and 12.5% on sales over $15000?
b.
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Q5: Solve the following 3 problems related to GST, HST, PST,
公 四
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Case Study # 4 Excel Submission – Capital Budgeting Comprehensive Problem
Pinnacle Custom Home Builders purchased a 40 foot articulating boom lift three years ago for
$50,000. The equipment has been depreciated under the 5-year MACRS schedule (20%, 32%,
19%, 12%, 12% & 5%). The old equipment can be sold for $33,000.
Pinnacle is considering the purchase of a new 60 foot articulating boom lift that would allow
the company to complete nearly all of its construction projects without the need for costly rental
lifts. The new lift could be purchased for $105,000 and would also fall under the 5-year MACRS
depreciation schedule.
Assume the old and new equipment would provide the following operating gains (or losses)
over the next six years.…
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Explain an agency problem for a corporation with examples, and Identify means by which the firm can help reduce or
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2. Suppose Grandma wants to accumulate $100,000 for her grandchild's college education in 18
years. How much must she deposit today into an account with an APR of 4%, compounded
semiannually in order to have $100,000 in 18 years? Assume no additional deposits are made.
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3. You want to save enough to have $40,000 for a down payment on a house in 6 years. How much
should you deposit today into an account with an APR of 4% compounded weekly in order to
have the down payment in 6 years?
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A process with no beginning work in process, completed and transferred out 85200 units during a period and had 50100 units in the
ending work in process inventory that were 20% complete. The equivalent units of production for the period for conversion costs were:
O 95220 equivalent units.
O 135300 equivalent units.
O 70200 equivalent units.
O 85200 equivalent units.
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Homework Problems i
September-actual
October-actual
November-estimated
December-estimated
Total estimated for the current year
Saved
Units
40,000
60,000
80,000
50,000
800,000
Barnum Distributors wants a projection of cash receipts and cash payments for the month of November. On November 28, a note will
be payable in the amount of $98,500, including interest. The cash balance on November 1 is $29,600. Accounts payable to
merchandise creditors at the end of October were $217,000.
The company's experience indicates that 70 percent of sales will be collected during the month of sale, 20 percent in the month
following the sale, and 7 percent in the second month following the sale; 3 percent will be uncollectible. The company sells various
products at an average price of $11 per unit. Selected sales figures are as follows.
Help
Budgeted operating expenses for…
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