The joint federal and state
health insurance program for low-income persons in the United States is called
MEDICAID. Medicaid, helps with medical costs for those people with limited
resources and income. While Medicaid is jointly funded by both federal and
state governments, it is managed by the state governments.
The journal entry on May 1 was:
A debit to Prepaid Insurance for 15,600
And a credit to cash for 15,600
Prepaid Insurance is the share of an insurance premium that
has been paid in early and has not finished as of the balance sheet date.
The monthly insurance payment for two years is computed by 15,600/24
months which is $650 per month.
At December 31 the adjusting entry would be:
A debit to Insurance Expense 5,200
And a credit to Prepaid Insurance for 5,200
5,200 is computed by:
650 x 8 months (starting from May 1 to December 31) = 5,200
Answer: Option A
Explanation: The amount of cash disbursed by the company in a specified time period, generally a year, is called cash outflow. In simple words, cash outflow is the amount of cash that left the company in the form of investments, operating expenses or other payments etc.
Initial investment in a project is a cash outflow that will further result in cash inflows in form of returns.
Thus, option A is correct.
The correct answer in the blank is the edge cities. The edge cities describe the following statement above because building like malls, hotels, parks and even residential areas that are found near to the major high ways intersections are called to be it.
