On June 1, Year 1, Company X paid $7,200 for a three-year insurance policy that became effective on that same date.
$_________ Year 1 Insurance Expense
$_________ Insurance Payable at Dec. 31, Year 1 [If none, so state.]
$_________ Prepaid Insurance at Dec. 31, Year 1 [If none, so state]
On April 1, Year 2, Paul added an additional policy when the firm paid $2,400 for a two-year policy that became effective on that same day.
$_________ Year 2 Insurance Expense
$_________ Prepaid Insurance at Dec. 31, Year 2 [If none, so state.]
$_________ Insurance Payable at Dec. 31, Year 2 [If none, so state.]
$_________ Cash paid for Insurance in Year 2

A life insurance company sells a $150,000 one year term life insurance policy to a 21-year old female for $150. The probability that the female survives the year is .999724. Find the expected value for the insurance company.

On March 31, 20X8, your calendar year company takes out a 3-year insurance policy with a premium of $4,000 per year. The entire $12,000 is paid in advance and is recorded as prepaid insurance. At year-end 20X8, you discover that the adjusting entry debits Insurance Expense for $4,000 and credits Prepaid Insurance for $4,000. If you do not correct this, assets will be understated and net income will be understated assets will be overstated and net income will be overstated everything will be fine. Since the original adjusting entry was correct, no correction needs to be made. assets will be overstated and net income will be understated assets will be understated and net income will be overstated

A 28-year-old man pays $254 for a one-year life insurance policy with coverage of $11,684. If the probability that he will live through the year is 0.995, what is the expected value for the insurance policy?

The probability that a 55-year-old white male will live another year is .99251. What premium would an insurance company charge to break even on a one-year $1 million term life insurance policy?

QUESTION: Suppose the government borrows $5 billion more next year than this year (for example, theymove from a balanced budget to a $5 billion deficit or from a $10 billion deficit to a $15 billiondeficit).

a. Use a supply-and-demand diagram to analyse this policy. Does the interest rate rise or fall?

b. What happens to investment? To private saving? To public saving? To national saving?Compare the size of the equilibrium changes with the $5 billion of extra borrowing. Is it thesame, less, or more? Carefully explain why and distinguish the various movements in thediagram.

c. How do the elasticities of supply of and demand for loanable funds (i.e. the slopes of thecurves) affect the size of these changes? (Hint: See chapter 5 to review the definition ofelasticity.)

d. Suppose households believe that greater government saving today implies lower future taxessince there will be little government debt. What does this belief do to private saving and thesupply of loanable funds today? Does it increase or decrease the effects you discussed inparts (a) and (b)?

On Jan1, year 5, ABC Co. Issued $100,000, of 5 year, 12%bonds at a market (effective) interest rate of 13%, receiving cash of $96,406. Interest on the bonds is payable semiannually on June 30 and Dec 31. Compute the following: i. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds. ii. Journalize the entries to record the following: a. The first semiannual interest payment on June 30, Yr. 5, and the amortization of the bond discount, using the interest method. b. The interest payment on Dec 31, Year 5 (second interest payment) and the amortization of the bond discount, using the interest method. c. The interest payment on June 30, Year 6(third interest payment) and the amortization of bond discount, using the interest method.

M.E. is a 66 year old woman who has a 2-year history of progressive forgetfulness. After a neurological evaluation, M.E. was diagnosed as having Alzheimer Disease (AD). She is no longer able to care for herself, has become increasingly depressed and paranoid, and recently started a fire in the kitchen. Her husband and children have come to the Alzheimer unit at your extended care facility to seek information about AD and discuss the possibility of placement for M.E. You assure the family that you have experience dealing with the questions and concerns of most people in their situation.

1. How would you explain AD to the family?

2. M.E.’s husband asks, “How did she get Alzheimer’s? We don’t know anyone else who has it.” How would you respond?

3. After asking the family to describe M.E.’s behavior, you determine that she is in stage 2 of the disease. Describe the common signs and symptoms for each of the three stages of the disease and the length of time each stage generally lasts.

4. M.E.’s daughter expresses some frustration at the number of tests M.E. had to undergo and the length of time it took for someone to diagnose M.E.’s problem. What tests are likely to be performed, and how is AD diagnosed?

M.E.’s husband states, “How are you going to take care of her? She wanders aroung all night long. She cannot find her way to the bathroom in a house that she lived in for 43 years. She cannot be trusted to be alone anymore. She almost burned the house down. We’re all exhausted; there are three of us, and we can’t keep up with her.” You acknowledge how exhausted they must be from trying to keep her safe. You tell the family he Alheimer units have been created to provide a structured, safe environment.

5. Describe specific nursing interventions to place in M.E.’s plan of care that are aimed at minimizing her risk of falling.

6. M.E.’s son wants to know why the unit is only accessible through a keypad locked door. He is worried that there are violent patients on the unit. How will you respond?

7. Describe the Alzheimer-related nursing interventions related to each of the following problems: chronic confusion, inability to perform self-hygiene, disturbed sleep pattern, impaired verbal communication, and agitation.

8. M.E.’s son asks whether medications can help her AD. How would you respond?

9. What other medications might be prescribed for AD and why?

10. Who can you collaborate with and for what problems?