You have been recently hired at UMGC Health. One of your new job functions entails educating new hires on the revenue cycle process. For this assignment, you will prepare a 3-5 page white paper outlining the basic steps of the revenue cycle.

Identify the various steps within the revenue cycle process, including admissions, case management, documentation, coding, billing, et cetera. For each step identified, provide details pertaining to the following: Purpose of the step identified. The individuals involved in the process (e.g., providers, transcriptionists, coders, registration clerk, etc.). The key components of the function, such as verifying insurance, financial counseling, coding of documented services provided etc. The consequences of failure to properly conduct the function identified.

· Note: outside research beyond the textbook is required for this assignment. Support your research with at least five sources. The use of professional charts / graphs to reinforce written content is encouraged.

The trial balance of Sam Landscaping at 30 June 2019 is as follows:

Additional information for the period:
a. The insurance was purchased on 1 May 2019, and it covers a period of 24 months.
b. A physical count reveals $4,000 of landscaping supplies are on hand at the end of 30 June
c. Equipment is depreciated at a rate of 20% each year
d. $1,600 unearned service revenue was earned
e. Accrued salaries are $3,600


Required:
Prepare relevant adjusting entries. Ignore narrations.

Part C

Question 1

Mr. Kenny is an accountant at AF Textile, and he plays squash with Mr. Zuni, the CEO of AF Textile. The CEO wanted to decrease net income with the objective to pay lesser tax. Mr. Kenny was eager to get into Mr. Zuni’s elite social circle; he boasted to Mr. Zuni that he knew some accounting tricks that could decrease company income by simply disclosing company’s capital expenditure as their revenue expenditure. At the end of the year, Mr. Kenny changed the debits from “capital expenditures” to “revenue expenditure” on several transactions. Later, Mr. Zuni achieved his objective of paying lesser tax, and the manipulations were never discovered.

Required:

Differentiate between Capital Expenditure and Revenue Expenditure. (4 marks)

How did the change in journal entries affect the net income and net assets of the company at year-end?                                 (3 marks)

Problem 4-01A a-d (Video) The trial balance columns of the worksheet for Warren Roofing at March 31, 2020, are as follows. Warren Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4,500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11,000 Accumulated Depreciation—Equipment 1,250 Accounts Payable 2,500 Unearned Service Revenue 550 Owner’s Capital 12,900 Owner’s Drawings 1,100 Service Revenue 6,300 Salaries and Wages Expense 1,300 Miscellaneous Expense 400 23,500 23,500 Other data: 1. A physical count reveals only $480 of roofing supplies on hand. 2. Depreciation for March is $250. 3. Unearned revenue amounted to $260 at March 31. 4. Accrued salaries are $700.

Prepare a classified balance sheet at March 31. (List Current Assets in order of liquidity.)

The Camera Shop sells two popular models of digital SLR cameras (Camera A Price: 230, Camera B Price: 310). The sales of these products are not independent of each other, but rather if the price of one increase, the sales of the other will increase. In economics, these two camera models are called substitutable products. The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model: NA = 192 - 0.5PA + 0.25PB NB = 305 + 0.08PA - 0.6PB Construct a model for the total revenue and implement it on a spreadsheet. Develop a two-way data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $250 to $500 in increments of $10.

Max profit occurs at Camera A price of $ _______

Max profit occurs at Camera B price of $ _______

The firm I Love Cost Accounting, Co. provides cost accounting tutoring as well as CMA test prep classes. Cost accounting tutoring brings in $1,200,000 in revenue. CMA test prep classes bring in $4,000,000 in revenue.

Cost accounting tutoring costs the firm $2,100,000, and CMA test prep classes cost the firm $2,750,000.

If the firm drops cost accounting tutoring, then revenue for CMA test prep classes will decrease by 20%. And if the firm drops cost accounting tutoring, it cannot avoid $70,000 of the cost of providing cost accounting tutoring.

A real estate investor buys two properties. Monthly net income from the first property (an apartment building) is $1,000 times the number of apartments that are rented out, minus $1,800 in property taxes and maintenance expenses. The number of apartments that are rented out is a random variable, X, with mean 20 and standard deviation 3. Monthly net income from the second property (a parking lot) is ninety percent of revenue (the management company takes the other ten percent), minus $1,200 in property taxes and maintenance. Revenue is a random variable, Y, with mean $20,000 and standard deviation $200. The correlation between the number of apartments rented out (X) and revenue from the parking lot (Y) is 0.4.

a. Calculate the real estate investor’s expected monthly net income from these two properties:

b. Compute the covariance from the correlation:

c. Calculate the variance of monthly net income from these two properties

1. Schultz Clinic uses patient-visits as its measure of activity. The clinic bases its budgets on the following information: Revenue should be $40 per patient-visit. Personnel expenses should be $30,000 per month plus $11 per patient-visit. Medical supplies should be $1,000 per month plus $8 per patient-visit. Occupancy expenses should be $10,000 per month plus $1 per patient-visit. Administrative expenses should be $6,000 per month plus $1 per patient-visit.

The clinic reported the following actual results for February:

Prepare a report showing the clinic's revenue and spending variances for February. Label each variance as favorable (F) or unfavorable (U).

An agent chooses high or low effort on a project. If the agent exert's high effort, the project will succeed with prob. 0.96, but under low effort the prob. of success is only 0.74. The ex ante cost of high effort is $500 and the cost of low effort is $0. The agent will be paid $Z only if the project succeeds. What is the minimum Z necessary to persuade the agent to choose high effort?

Group of answer choices

$2,133

$2,273

$2,445

$2,544

An investor has wealth of $500 and a project that requires a $500 investment. If the investor choose Safe, the project yields revenue $580, but if the investor chooses Risky, the project yields revenue $660 with prob. 0.75 and revenue $0 otherwise. If the investor uses her own wealth, her final (expected) payoff from choosing Safe is ____ and from Risky it is ____.

Group of answer choices

$565; $522

$565; $495

$580; $522

$580; $495