Question : 41. RM Company, a manufacturer, has provided the following information pertaining : 1228462

Accounting

41. RM Company, a manufacturer, has provided the following information pertaining to its recent year of operation:
? Net income, $300,000;
? Accounts payable increased $24,000;
? Prepaid rent decreased $10,000;
? Depreciation expense was $35,000;
? Accounts receivable increased $34,000;
? Gain on sale of a building was $11,000;
? Wages payable decreased $21,000;
? Unearned revenue increased $44,000.
How much was RM’s net cash inflow from operating activities?
A. $259,000
B. $327,000
C. $347,000
D. $358,000

42. GJ Company, a manufacturer, has provided the following information pertaining to its recent year of operation:
? Net income, $500,000;
? Accounts payable decreased $42,000;
? Prepaid assets increased $31,000;
? Depreciation expense was $53,000;
? Accounts receivable decreased $41,000;
? Loss on sale of a depreciable asset was $31,000;
? Wages payable increased $19,000;
? Unearned revenue decreased $31,000;
? Patent amortization expense was $5,000.
How much was GJ’s net cash inflow from operating activities?
A. $545,000
B. $607,000
C. $514,000
D. $463,000

43. DJ Company, a manufacturer, has provided the following information pertaining to its recent year of operation:
? Cash flow from operating activities, $272,000;
? Accounts payable decreased $21,000;
? Prepaid assets increased $15,000;
? Depreciation expense was $27,000;
? Accounts receivable decreased $21,000;
? Loss on sale of a depreciable asset was $16,000;
? Wages payable increased $10,000;
? Unearned revenue decreased $16,000;
? Patent amortization expense was $10,000.
How much was DJ’s net income?
A. $256,000
B. $210,000
C. $198,000
D. $240,000

44. KJ Company, a manufacturer, has provided the following information pertaining to its recent year of operation:
? Cash flow from operating activities, $136,000;
? Accounts payable increased $11,000;
? Prepaid assets decreased $8,000;
? Depreciation expense was $12,000;
? Accounts receivable increased $23,000;
? Loss on sale of a depreciable asset was $6,000;
? Wages payable decreased $9,000;
? Unearned revenue decreased $19,000;
? Patent amortization expense was $3,000.
How much was KJ’s net income?
A. $185,000
B. $135,000
C. $147,000
D. $131,000

45. Which of the following would not be a cash flow from investing activities?
A. Purchase of long-term investments.
B. Sale of a patent.
C. Collection of principal on a long-term note receivable.
D. Collection of interest revenue on a long-term note receivable.

46. Which of the following would not be a cash flow from financing activities?
A. Issuance of common stock for cash.
B. Borrowing cash on a long-term note payable.
C. Collection of a cash dividend.
D. Repayment of principal on a long-term note payable.

47. Which of the following would not be considered a cash equivalent?
A. A 30-day certificate of deposit.
B. A ten-year treasury note purchased over nine years ago, which matures in two months.
C. A three-month Treasury bill.
D. A ten-year Treasury note purchased two months before maturity.

48. Which of the following statements about the statement of cash flows is correct?
A. A company with a net loss on the income statement will always have a net cash outflow from operating activities.
B. A purchase of equipment is classified as a cash inflow from investing activities.
C. Cash dividends received on stock investments are classified as cash flows from operating activities.
D. Cash dividends paid are classified as cash flows from operating activities.

49. Which of the following items about the statement of cash flows is correct?
A. Non-cash expenses such as depreciation are deducted from net income with the indirect method in computing cash flows from operating activities.
B. Cash equivalents are highly liquid investments with maturities at the date of purchase of less than three months.
C. The acquisition of land by issuing bonds payable would not appear on the statement of cash flows.
D. Cash paid for interest would be classified as a financing cash flow.

50. Allen Company’s 2010 income statement reported total revenues, $850,000 and total expenses (including $40,000 depreciation) of $720,000. The 2009 balance sheet reported the following: accounts receivable—beginning balance, $50,000 and ending balance, $40,000; accounts payable—beginning balance, $22,000 and ending balance, $28,000. Therefore, based only on this information, how much was the 2010 net cash inflow from operating activities?
A. $126,000
B. $166,000
C. $174,000
D. $186,000

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July 1, 2023

Assignment 1: LASA 2— Corporate Compliance

You are a corporate compliance officer for a hospital. You are also a feature writer for The Medical Reporter, an online health magazine. The editor asks you to write an 8-10 page feature story about the steps you should take when fraud and abuse cases are reported to a facility. This is very timely as you recently received a call on your “hotline” regarding a potential fraud and abuse issue. The caller indicated that Dr. Greedy was billing for services that had not been provided. You are in danger of losing reimbursement for Medicare and Medicaid programs if this behavior is not stopped. Your feature should address the ethical and moral components that healthcare providers and healthcare facilities face with fraud and abuse issues. Your research should include the following aspects:

I. How to conduct an investigation. It should include the following elements:

a. Reviewing the initial complaint: What are the items you should look for in a compliant to determine validity?

b. Notifying the appropriate upper management of the complaint unless they are implicated in the complaint: What are the steps to take to determine who is involved?

c. Obtaining additional information as necessary and developing a plan for the investigation: What other items are important to the investigation?

d. Conducting interviews with staff, residents and/or management: Delineate the types of questions to ask in the interview.

e. Determining if the allegations are substantiated or unsubstantiated: Identify criteria to determine if substantiated or unsubstantiated.

II. How to develop a correction action plan. The plan may suggest:

a. A recommendation for a subsequent audit or follow-up to the complaint and determination of when this is necessary.

b. A recommendation to refund any overpayments to federal government, insurance company or individual payer and when that may be the best course of action.

By Saturday, August 24, 2013, deliver your assignment to the M5: Assignment 1 Dropbox.

Use the following file naming convention: LastnameFirstInitial_M5_A1.doc.

Assignment 1 Grading Criteria	Maximum Points
Discussed the process for reviewing the initial healthcare fraud and abuse complaint and the items to look for to determine validity.	36
Explained the steps to take to determine who is involved in the complaint.	32
Discussed how to obtain additional information to develop a plan for the investigation and the items, which would be important to the investigation.	32
Explained how to conduct interviews with staff, residents and/or management and the types of questions to ask in the interview.	32
Identified the criteria to determine if the allegations are substantiated or unsubstantiated.	32
Explained how to determine when a recommendation for a subsequent audit or follow-up to the complaint is necessary.	36
Discussed the best course of action when a recommendation to refund any overpayments to federal government, insurance company or individual payer is warranted.	36
Written Components: Style (8 points): Tone, audience, and word choice Organization (16 points): Introduction, transitions, and conclusion Usage and Mechanics (16 points): Grammar, spelling, and sentence structure APA Elements (24 points): In text citations and references, paraphrasing, and appropriate use of quotations and other elements of style	64
Total:	300