Below Are Selected Transactions for the Lake County Community College $\underline{\text{Transactions: }}$

question 19

Essay

Below are selected transactions for the Lake County Community College (LCCC). LCCC reports as a special government engaged only in business-type activities. All amounts are in thousands of dollars.
$\underline{\text{Transactions: }}$
1. Tuition and fees charged for the fall 20X3 semester totaled $2,800. Of this, $98 was waived as a result of scholarship allowances, and another $15 is expected to be uncollectible.
2. The college received a reimbursement grant restricted to research on composite materials, $300.
3. Salaries paid to researchers in the Composite Materials Lab of $40 qualified under the research grant received.
4. The college purchased equipment for use in its building and grounds maintenance department at a cost of $35. Unrestricted resources were used for this purpose.
5. The college paid $30 interest and $15 principal on one of its mortgages.

$\underline{\text{ Requirement: }}$ Prepare the necessary journal entries to record these transactions.

Understand the roles and responsibilities of managers in team-building and recognizing the structure of team management.

Identify types of teams and their commonality in organizational settings.

Understand the concept of interdependence in teamwork and its significance.

Grasp the concept and implications of manager-led versus self-directing teams.

---

Definitions:

Managed Care

A healthcare delivery system aimed at managing the quality and cost of medical services by coordinating care and utilizing specific providers.

Pitfalls

Hidden or unexpected difficulties or dangers that complicate endeavors or tasks.

Benefits

Advantages or payments made to individuals or groups, often from governments or employers, to support well-being or provide assistance.

Medicare

A federal health insurance program in the United States for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease.