Wilson Owned Equipment with an Estimated Life of 10 Years

question 113

Multiple Choice

Wilson owned equipment with an estimated life of 10 years when it was acquired for an original cost of $80,000. The equipment had a book value of $50,000 at January 1, 2012. On January 1, 2012, Wilson realized that the useful life of the equipment was longer than originally anticipated, at ten remaining years. On April 1, 2012 Simon Company, a 90% owned subsidiary of Wilson Company, bought the equipment from Wilson for $68,250 and for depreciation purposes used the estimated remaining life as of that date. The following data are available pertaining to Simon's income and dividends: $\begin{array}{lrrr}&2012&2013&2014\\\text { Net income } & \$ 100,000 & \$ 120,000 & \$ 130,000 \\\text { Dividends } & 40,000 & 50,000 & 60,000\end{array}$ Compute Wilson's share of income from Simon for consolidation for 2014.

• A)$118,825.
• B)$115,000.
• C)$117,000.
• D)$119,000.
• E)$118,800.

Recognize documentation necessary for the reimbursement of home nursing care by Medicare, Medicaid, and insurance companies.

Comprehend the benefits of electronic medical record (EMR) systems in healthcare.

Understand the essentials of effective hand-off communication between nurses.

Know patient rights concerning their medical records and privacy.

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Definitions:

Synaptic Cleft

The narrow gap between the presynaptic neuron and postsynaptic cell where neurotransmitters are released to facilitate neuronal communication.

Norepinephrine

A neurotransmitter and hormone involved in the body's natural response to stress, increasing heart rate, blood pressure, and blood sugar levels.

Bronchi

The main passageways into the lungs, which branch from the trachea and further divide into smaller airways called bronchioles.

Oxygen

A chemical element with symbol O, critical for the survival of aerobic organisms as it is essential for energy production in respiration and is a component of water.