During 2020, the following transactions were recorded by the Port Hudson Community Hospital, a private sector not-for-profit institution:

1. Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,970,000. Estimated contractual adjustments with third-party payors amounted to $560,000 and the Hospital estimated implicit price concessions would total $27,000.
2. Charity services, not included in transaction 1, would amount to $100,000, had billings been made at gross amounts.
3. Other revenues, received in cash, were parking lot, $37,000; cafeteria, $60,500; gift shop, $13,500.
4. Cash gifts restricted by the donor for programs amounted to $40,450 for the year. During the year, $80,600 was expended for technician salaries supporting the program identified by the donor (debit Operating Expense—Salaries and Benefits).
5. Mortgage bond payments amounted to $77,200 for principal and $48,400 for interest. Assume unrestricted resources are used.
6. During the year, the hospital received, in cash, unrestricted contributions of $65,800 and unrestricted income of $56,250 from endowment investments. (It is the hospital’s practice to treat unrestricted gifts as nonoperating income.)
7. New equipment, costing $186,000, was acquired, using donor-restricted cash that was on hand at the beginning of the year.
8. An old piece of lab equipment that originally cost $220,000 and that had an undepreciated cost of $44,000 was sold for $24,000 cash.
9. At the end of 2020, pledges (restricted as to purpose) were received in the amount of $205,000. These are intended to be received and expended in 2021.
10. Cash contributions were received from donors restricted for plant acquisition, $225,250.
11. Bills were received for the following items: Utilities $161,100 and Insurance $93,600. These will be paid in January of 2021.
12. Depreciation of plant and equipment amounted to $231,000.
13. Cash payments on accounts payable amounted to $213,900. Another $839,100 was expended on wages and benefits.
14. Cash collections of patient accounts receivable amounted to $1,214,000. These were in settlement of patient accounts totaling $1,672,000. Contractual adjustments associated with these totaled $434,000 and price concessions totaled $24,000.
15. Closing entries were prepared.

Required:
a. Record the transactions in the general journal of the Port Hudson Community Hospital.
b. Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020.
c. Prepare a Statement of Changes in Net Assets for the Port Hudson Community Hospital for the year ended December 31, 2020. Assume beginning net assets are $7,255,000.

1. Which of the following statements regarding GAAR is true?

Multiple Choice

• The purpose of GAAR is to catch tax evaders.

• When an avoidance transaction takes place, the anti-avoidance rule is automatically applied in all circumstances.

• Canada Revenue Agency states that "A transaction will not be an avoidance transaction if the taxpayer establishes that it is undertaken primarily for bona fide business, investment or family purposes."

• Individuals who organize their affairs in order to pay as little tax as possible will automatically be subject to GAAR.

2. The CEO at Big Company Corporation has decided to sell a piece of capital equipment after the company's year-end in order to avoid paying capital gains tax this year. Which tax planning method will the CEO be using?

Multiple Choice

• Transferring income to another entity.

• Converting the nature of income from one type to another.

• Shifting income from one time period to another.

• This is a form of tax evasion and is not allowed.

3. Income tax is calculated for which of the following jurisdictional groups?

Multiple Choice

• Municipal, provincial, and federal

• Municipal, federal, and foreign

• Provincial, federal, and foreign

• Municipal, provincial, and foreign

4. Which of the following is not considered to be a separate entity for tax purposes in Canada?

Multiple Choice

• An individual

• A proprietorship

• A corporation

• A trust

Note- introduction to taxation

Which of the following is true?

a. Everything else remaining constant, the present value of a future lump sum payment will increase if the time period declines. b. Everything else equal, you will accrue more interest if you choose to invest using simple interest versus compound interest. c. Everything else held constant, if the number of payments related to an annuity due increase, so will the present value of the annuity. d. All else equal, the future value of an annuity due will be greater than the future value of an ordinary annuity. “a”, “b”, “c” and “d” are correct only “a”, “b” and “c” are correct only “a” and “b” are correct only “b” and “c” are correct only “c” and “d” are correct

S. Bouchard and Company hired you as a consultant to help estimate its cost of capital. You have obtained the following data: D ₀ = $0.85; P ₀ = $22.00; and g = 6.00% (constant). The CEO thinks, however, that the stock price is temporarily depressed, and that it will soon rise to $37.00. Based on the DCF approach, by how much would the cost of equity from retained earnings change if the stock price changes as the CEO expects? Do not round your intermediate calculations.

. "Building a Critical Skill: Thinking Critically" "some MBA programs now include courses in law, poetry, entrepreneurship, and biotechnology." The following video presentations take this idea even further, suggesting that all jobs or careers will require a higher set of skills than in the past. https://www.youtube.com/watch?v=NS2PqTTxFFc&feature=youtu.be

Can courses in law, poetry, biotechnology create a better leader?

2. Which skills listed in the video do you think are most important? Are you acquiring these skills in your current educational journey? Where?

(350 minimum words)

You need a new car and the dealer has offered you a price of $20,000​, with the following payment​ options: (a) pay cash and receive a $2,000 ​rebate, or​ (b) pay a $5,000 down payment and finance the rest with a 0% APR loan over 30 months. But having just quit your job and started an MBA​ program, you are in debt and you expect to be in debt for at least the next 2​ ½ years. You plan to use credit cards to pay your​ expenses; luckily you have one with a low​ (fixed) rate of 13.67% APR. Which payment option is best for​ you?

Trudy Pierre is the CFO of Vista Intl, a young financial software platform firm. Ms. Pierre is considering several projects in newly opening markets in Khazaksthan. She believes that her firm should take advantage of the current low interest rates. Thus, she would like to increase the debt equity ratio of the firm but is concerned about the consequences of increasing leverage. Although she studied finance in her MBA program, she does not remember much about capitol structure theory. Knowing that you have recently taken a class, what advice would you give her?

An incoming MBA student took placement exams in economics and mathematics. In​ economics, she scored 80 and in math 86. The overall results on the economics exam had a mean of 73 and a standard deviation of 10​, while the mean math score was 67​, with a standard deviation of 12. On which exam did she do better compared with the other​ students? Since she scored (nothing) standard deviations ▼ ( below or above) the mean in economics and (nothing) standard deviations ▼ (below or above) the mean in​ mathematics, she did better on the ▼ (economics or mathematics) exam. ​(Round to two decimal places as​ needed.)

MBA 5010 Week 4 Integrative Assignment

This week, you’re going to build on the knowledge you gained. Your assignment is to deconstruct the economics underlying Airbnb. Specifically, I want you to answer the following questions:

• Does Airbnb capture a sufficient amount of any value generated to remain a viable business?

The purpose of this question is to provide you an opportunity to demonstrate your understanding of the economics of value creation. So, emphasize this aspect of your answer. Try to limit yourself to 500 words. Your answer will be evaluated based on correctness, completeness, and clarity. As always, be attentive to your writing.

Answer both questions

9.) (ch 6) Suppose that Danielle’s wage-schooling locus is given by

a) Derive the marginal rate of return (MRR) schedule. When will Danielle quit school if her discount rate is 10 percent?

b) Suppose the government imposes an income tax of 20% on both labor earnings and interest income. What is the impact ofthis income tax on Danielle’s educational attainment (will itincrease or decrease)? Explain your answer.

10.) (ch 6) Peter has just graduated from HS. He will live for three more periods, and he is considering three alternative education-work options. He can start working right away, earning $100,000 in period 1, $110,000 in period 2, and $90,000 in period 3. He can also go to college in period 1 spending $10,000 in that period, and then earn $150,000 in periods 2 and 3. Finally, he can go to college in period 1 and get an MBA in period 2. This last option will cost him nothing in year 2 (books and tuition are covered by a research assistant position). After getting his MBA, he will earn $300,000 in period 3.

a) If Peter’s discount rate is 0.20, which path will maximize his net present value of his lifetimeearnings?
b) Why is it realistic that his wage for option one decreases to $90,000 in year 3?