September 19, 2013 Day 243 of the Fifth Year - History

September 19, 2013 Day 243 of the Fifth Year - History

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President Barack Obama writes a school excuse note for Alanah Poullard, 5, while visiting with Wounded Warriors and their families in the East Room during their tour of the White House, Sept. 19, 2013. Alanah asked for a note to show her kindergarten teacher.

10:00AM THE PRESIDENT and VICE PRESIDENT receive the Presidential Daily Briefing
Oval Office

11:00AM THE PRESIDENT delivers remarks at a meeting of his Export Council
Eisenhower Executive Office Building

11:35AM THE PRESIDENT meets with senior advisors
Oval Office

4:25PM THE PRESIDENT attends a DNC event
Capital Hilton Hotel, Washington, DC


May 2013 Calendar

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Go to 2013 Calendar.

DateSunriseSunsetLength of day
May 1, 20135:5519:5213h 57m
May 2, 20135:5419:5313h 59m
May 3, 20135:5219:5414h 2m
May 4, 20135:5119:5514h 4m
May 5, 20135:5019:5614h 6m
May 6, 20135:4919:5714h 8m
May 7, 20135:4819:5814h 10m
May 8, 20135:4719:5914h 12m
May 9, 20135:4520:0014h 15m
May 10, 20135:4420:0114h 17m
May 11, 20135:4320:0214h 19m
May 12, 20135:4220:0314h 21m
May 13, 20135:4120:0414h 23m
May 14, 20135:4020:0514h 25m
May 15, 20135:3920:0614h 27m
May 16, 20135:3820:0714h 29m
May 17, 20135:3720:0814h 31m
May 18, 20135:3620:0914h 33m
May 19, 20135:3620:1014h 34m
May 20, 20135:3520:1114h 36m
May 21, 20135:3420:1214h 38m
May 22, 20135:3320:1314h 40m
May 23, 20135:3220:1314h 41m
May 24, 20135:3220:1414h 42m
May 25, 20135:3120:1514h 44m
May 26, 20135:3020:1614h 46m
May 27, 20135:3020:1714h 47m
May 28, 20135:2920:1814h 49m
May 29, 20135:2920:1914h 50m
May 30, 20135:2820:1914h 51m
May 31, 20135:2820:2014h 52m

The sunrise and sunset are calculated from New York. All the times in the May 2013 calendar may differ when you eg live east or west in the United States. To see the sunrise and sunset in your region select a city above this list.


2013 Detroit Tigers Statistics

Copyright © 2000-2021 Sports Reference LLC. All rights reserved.

Much of the play-by-play, game results, and transaction information both shown and used to create certain data sets was obtained free of charge from and is copyrighted by RetroSheet.

Win Expectancy, Run Expectancy, and Leverage Index calculations provided by Tom Tango of InsideTheBook.com, and co-author of The Book: Playing the Percentages in Baseball.

Total Zone Rating and initial framework for Wins above Replacement calculations provided by Sean Smith.

Full-year historical Major League statistics provided by Pete Palmer and Gary Gillette of Hidden Game Sports.

Some defensive statistics Copyright © Baseball Info Solutions, 2010-2021.

Some high school data is courtesy David McWater.

Many historical player head shots courtesy of David Davis. Many thanks to him. All images are property the copyright holder and are displayed here for informational purposes only.


June 2013 Calendar

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Go to 2013 Calendar.

DateSunriseSunsetLength of day
June 1, 20135:2720:2114h 54m
June 2, 20135:2720:2214h 55m
June 3, 20135:2620:2214h 56m
June 4, 20135:2620:2314h 57m
June 5, 20135:2620:2414h 58m
June 6, 20135:2520:2414h 59m
June 7, 20135:2520:2515h 0m
June 8, 20135:2520:2515h 0m
June 9, 20135:2520:2615h 1m
June 10, 20135:2520:2715h 2m
June 11, 20135:2420:2715h 3m
June 12, 20135:2420:2815h 4m
June 13, 20135:2420:2815h 4m
June 14, 20135:2420:2815h 4m
June 15, 20135:2420:2915h 5m
June 16, 20135:2420:2915h 5m
June 17, 20135:2420:3015h 6m
June 18, 20135:2420:3015h 6m
June 19, 20135:2520:3015h 5m
June 20, 20135:2520:3015h 5m
June 21, 20135:2520:3115h 6m
June 22, 20135:2520:3115h 6m
June 23, 20135:2520:3115h 6m
June 24, 20135:2620:3115h 5m
June 25, 20135:2620:3115h 5m
June 26, 20135:2620:3115h 5m
June 27, 20135:2720:3115h 4m
June 28, 20135:2720:3115h 4m
June 29, 20135:2720:3115h 4m
June 30, 20135:2820:3115h 3m

The sunrise and sunset are calculated from New York. All the times in the June 2013 calendar may differ when you eg live east or west in the United States. To see the sunrise and sunset in your region select a city above this list.


MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Sarbanes-Oxley was passed in response to which of the following? 1) A) The mounting government deficit B) The accounting scandals of WorldCom and Enron C) The stock market crash of 2002 D) The savings and loan bailout 2) Which is NOT a provision of Sarbanes-Oxley? 2) A) Those who commit securities fraud may be sentenced to 25 years in prison. B) Accounting firms are allowed to provide both audit services and a full range of consulting services to their public company clients. C) Auditors of public companies are under the scrutiny of the Public Company Accounting Oversight Board. D) Public companies must issue an internal control report evaluated by an outside auditor. 3) Which of the following items will NOT appear on the book side of the reconciliation? 3) A) The bank collected a note receivable of $1,000. B) A deposit was in transit. C) The bank charged a service fee of $20. D) A nonsufficient funds check of $75 was returned to the bank. 4) A check was written by a business for $205, but recorded in the cash payments journal as $502. How would this error be included on the bank reconciliation? 4) A) A deduction on the bank side B) An addition on the book side C) A deduction on the book side D) An addition on the bank side 5) A check of $75 deposited by a company was returned to the bank for nonsufficient funds. How would this information be included on the bank reconciliation? 5) A) An addition on the bank side B) A deduction on the bank side C) A deduction on the book side D) An addition on the book side 6) Check Number 6135 for $576 was incorrectly entered as $657. Which adjustment needs to be made? 6) A) Decrease the book balance. B) Increase the bank statement balance. C) Decrease the bank statement balance. D) Increase the book balance. 7) The following information is available for Matt’s Unlimited Company for the current month. What is the adjusted book balance on the bank reconciliation? Book balance end of the month $5,575 Outstanding checks 584 Deposits in transit 2,500 Service charges 75 Interest revenue 25 7) A) $5,500 B) $7,466 C) $5,550 D) $5,525 1 8) A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of $8,500. What is the company’s adjusted bank balance? 8) A) $69,350 B) $70,850 C) $60,850 D) $72,250 9) A company received a bank statement with a balance of $5,350. Reconciling items included a bookkeeper error of $200 (a $300 check recorded as $500), two outstanding checks totaling $720, a service charge of $15, a deposit in transit of $180, and interest revenue of $21. What is the adjusted bank balance? 9) A) $4,610 B) $5,016 C) $4,810 D) $4,636 10) Which of the following would be included in a journal to record an NSF check? 10) A) A debit to Accounts payable and a credit to Cash B) A debit to Miscellaneous expense and a credit to Cash C) A debit to Cash and a credit to Accounts receivable D) A debit to Accounts receivable and a credit to Cash 11) In reconciling a bank statement, the bank balance is $1,800 and the checkbook balance is $1,205. Which of the following is the MOST probable reason why the bank balance is larger than the book balance? 11) A) A deposit in transit was made at the end of the month. B) There are outstanding checks. C) The bank has deducted certain amounts for bank service charges. D) The company erroneously recorded a check for an amount less than actual. 12) The following information is available for Andersen Company for the month ending June 30, 2008. • Balance per the bank statement is $10,241.43. • Balance per books is $9,745.06. • Check #506 for $1,948.52 and check #510 for $1,800.25 were not shown on the June 30 bank statement. • A deposit in transit of $5,113.40 had not been received by the bank when the bank statement was generated. • A bank debit memo indicated an NSF check in the amount of $79 written by Bruce Garrett to Andersen Company on June 13. • A bank credit memo indicated a note collected by the bank of $1,900 and interest revenue of $75 on June 20. • The bank statement indicated service charges of $35. What is the adjusted book balance? 12) A) $7,884.06 B) $11,109.69 C) $11,606.06 D) $7,971.29 2 13) Please refer to the following bank reconciliation: No journal entries are required for the reconciling items on the bank side because: 13) A) the adjusted balances on both sides are the same amounts. B) those transactions have already been recorded in the company ledger. C) those transactions are already included in the bank balance at June 30. D) the amounts are immaterial. 14) Please refer to the following information needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit. • Outstanding checks total $1,533.25. • The book balance is $5,695.62. • The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month’s rent. • The bank balance at February 28, 2008 was $16,500.25. • A deposit of $300 was credited by the bank for $3,000. • A customer’s check for $1,280 was returned for nonsufficient funds. • The bank service charge is $70. Which of the following journal entries is needed to adjust for the booking error? 14) A) Cash 13,716 Sales revenue 13,716 B) Booking error 1,524 Cash 1,524 C) Cash 13,716 Rent expense 13,716 D) Rent expense 15,240 Cash 1,524 3 15) Please refer to the following information needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit. • Outstanding checks total $1,533.25. • The book balance is $5,695.62. • The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month’s rent. • The bank balance at February 28, 2008 was $16,500.25. • A deposit of $300 was credited by the bank for $3,000. • A customer’s check for $1,280 was returned for nonsufficient funds. • The bank service charge is $70. Which of the following journal entries is needed to adjust for the NSF check? 15) A) Accounts payable 1,280 Cash 1,280 B) Cash 1,280 Sales revenue 1,280 C) NSF check 1,280 Cash 1,280 D) Accounts receivable 1,280 Cash 1,280 16) A company has a petty cash fund amount of $200. When replenished, it has petty cash receipts of $15 for gas expense, $23 for postage expense, $18 for supplies expense and $12 for miscellaneous expenses. In the journal entry, Cash would be credited for: 16) A) $42. B) $132. C) $200. D) $68. 17) A fund for petty cash of $200 has $17 remaining in cash, $3 in miscellaneous cash receipts and an additional $180 specific cash receipts. The debit to Cash short and over would be: 17) A) $180. B) $183. C) . D) $17. 18) A petty cash fund was established with a $250 balance. It currently has cash of $31 and petty cash tickets totaling $219. Which of the following would be included in the entry to replenish the fund? 18) A) A debit to petty cash for $31 B) A credit to cash in bank for $31 C) A credit to petty cash for $219 D) Debits to various expenses for $219 19) A petty cash fund was established with a $250 balance. It currently has cash of $31 and petty cash tickets totaling $219. Which of the following would be included in the entry to replenish the fund? 19) A) A debit to petty cash for $31 B) A credit to petty cash for $219 C) A credit to cash in bank for $219 D) A credit to cash in bank for $31 4 20) A petty cash fund was established with a $400 balance. It currently has cash of $15 and petty cash tickets as shown below. Travel expense $120 Office supplies $200 Equipment rental expense $70 The journal entry to replenish the account would be which of the following: 20) A) Credit Petty cash fund $5 B) Credit Cash short & over for $5 C) Debit to Cash short & over for $5 D) Debit Petty cash fund $5 21) Which of the following statements is TRUE? 21) A) Accounts receivable are liabilities. B) Notes receivable are always due in 30 days. C) Accounts receivable are more liquid than cash. D) Notes receivable are longer in term than accounts receivable. 22) Which of the following are the two methods of accounting for uncollectible receivables? 22) A) The allowance method and the liability method B) The asset method and the sales method C) The allowance method and the direct write-off method D) The direct write-off method and the liability method 23) Which of the following are the two methods of estimating uncollectible receivables? 23) A) The aging-of-accounts-receivable method and the percent-of-sales method B) The allowance method and the amortization method C) The direct write-off method and the percent-of-completion method D) The gross-up method and the direct write-off method 24) The Allowance for uncollectible accounts currently has a credit balance of $200. The company’s management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the amount of Uncollectible account expense reported on the income statement? 24) A) $2,675 B) $2,875 C) $3,075 D) $3,275 25) The allowance for uncollectible accounts currently has a credit balance of $200. The company’s management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the balance of the Allowance for uncollectible accounts reported on the balance sheet? 25) A) $3,275 B) $2,875 C) $3,075 D) $2,675 26) The Allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-accounts method, the company’s management estimates that uncollectible accounts will be $15,000. What will be the amount of Uncollectible accounts expense reported on the income statement? 26) A) $14,100 B) $15,000 C) $14,900 D) $15,900 5 27) The Allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-accounts method, the company’s management estimates that uncollectible accounts will be $15,000. What will be the balance of the Allowance for uncollectible accounts reported on the balance sheet? 27) A) $15,000 B) $15,900 C) $14,100 D) $14,900 28) The Allowance for uncollectible accounts currently has a debit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-accounts method, the company’s management estimates that uncollectible accounts will be $15,000. What will be the amount of Uncollectible account expense reported on the income statement? 28) A) $14,100 B) $15,900 C) $14,900 D) $15,000 29) The Allowance for uncollectible accounts currently has a debit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company’s management estimates that uncollectible accounts will be $15,000. What will be the balance of the Allowance for uncollectible accounts reported on the balance sheet? 29) A) $15,000 B) $15,900 C) $14,100 D) $14,900 30) The following information is from the 2013 records of Armadillo Camera Shop: Accounts receivable, December 31, 2013 $20,000 (debit) Allowance for uncollectible accounts, December 31, 2013 prior to adjustment 600 (debit) Net credit sales for 2013 95,000 Accounts written off as uncollectible during 2013 7,000 Cash sales during 2013 27,000 Uncollectible accounts expense is estimated by the percent-of-sales method. Management estimates that 3% of net credit sales will be uncollectible. Which of the following will be the amount of Uncollectible accounts expense? 30) A) $2,250 B) $7,000 C) $2,850 D) $3,450 31) The following information is from the 2013 records of Armadillo Camera Shop: Accounts receivable, December 31, 2013 $20,000 (debit) Allowance for uncollectible accounts, December 31, 2013 prior to adjustment 600 (debit) Net credit sales for 2013 95,000 Accounts written off as uncollectible during 2013 7,000 Cash sales during 2013 27,000 Uncollectible accounts expense is estimated by the aging-of-accounts-receivable method. Management estimates that $2,850 of accounts receivable will be uncollectible. Which of the following will be the amount of Uncollectible accounts expense? 31) A) $7,000 B) $2,250 C) $2,850 D) $3,450 6 32) A newly created design business called Smart Art is just finishing up its first year of operations. During the year, there were credit sales of $40,000 and collections of $36,000. One account for $650 was written off. Smart Art uses the percentage-of-sale method to account for uncollectible account expense, and has decided to use a factor of 2% for their year-end adjustment of uncollectible account expense. At the end of the year, what is the balance in Uncollectible account expense? 32) A) $1,450 B) $800 C) $250 D) $150 33) A newly created design business called Smart Art is just finishing up its first year of operations. During the year, there were credit sales of $40,000 and collections of $36,000. One account for $650 was written off. Smart Art uses the aging-of-accounts method to account for uncollectible account expense, and has calculated an amount of $200 as their estimate of uncollectible amounts at year-end. At the end of the year, what is the ending balance in the Allowance for uncollectible accounts? 33) A) $1,450 B) $200 C) $800 D) $150 34) At the beginning of 2014, Mark’s sales had the following ledger balances: During the year there were $450,000 of credit sales, $460,000 of collections, and $3,700 of write-offs. At the end of the year, Mark’s adjusted for uncollectible account expense using the aging-of-accounts method, and calculated an amount of $1,600 as their estimate of uncollectible accounts. At the end of the year, what was the balance in the Uncollectible account expense? 34) A) $4,300 B) $2,700 C) $5,400 D) $2,300 35) Which of the following entries would be used to account for uncollectible receivables using the direct write-off method? 35) A) Allowance for uncollectible accounts is debited and Uncollectible accounts expense is credited. B) Accounts receivable is debited and Uncollectible accounts expense is credited. C) Uncollectible accounts expense is debited and Allowance for uncollectible accounts is credited. D) Uncollectible accounts expense is debited and Accounts receivable is credited. 36) The following information is from the 2013 records of Armadillo Camera Shop: Accounts receivable, December 31, 2013 $20,000 (debit) Net credit sales for 2013 95,000 Accounts written off as uncollectible during 2013 7,000 Cash sales during 2013 27,000 Uncollectible accounts expense is determined by the direct write-off method. Which of the following will be the amount of Uncollectible accounts expense? 36) A) $3,450 B) $2,250 C) $7,000 D) $2,850 7 37) A company uses the direct write-off method to account for uncollectible receivables. Which of the following is included in the entry to write off an uncollectible account? 37) A) A debit to Allowance for uncollectible-accounts B) A credit to the customer’s Account receivable C) A credit to the Allowance for uncollectible accounts D) No entry is made to write off uncollectible accounts. 38) Charlton Sales has a receivable for $92 that they now deem to be uncollectible. Charlton uses the direct write-off method. Which of the following entries correctly records the write-off? 38) A) Allowance for uncollectible accounts 92 Accounts Receivable 92 B) Cash 92 Accounts receivable 92 C) Uncollectible accounts expense 92 Accounts receivable 92 D) Accounts receivable 92 Uncollectible accounts expense 92 39) What is the maturity value of a 3-month, 12% note for $20,000? 39) A) $20,000 B) $21,200 C) $20,600 D) $22,400 40) A company issues a 60-day, 12% note for $11,000. What is the principal amount? 40) A) $220 B) $10,780 C) $11,000 D) $11,220 41) On October 2, 2014, Allen Jewelry Company accepted a 4-month, 10% note for $2,400 in settlement of an overdue account receivable. What is the journal entry to record the acceptance of the note? 41) A) Notes receivable 2,400 Accounts receivable 2,400 B) Notes receivable 2,400 Cash 2,400 C) Accounts receivable 2,400 Notes receivable 2,400 D) Cash 2,400 Sales revenue 2,400 42) On October 1, 2014, Allen Jewelry Company accepted a 4-month, 10% note for $2,400 in settlement of an overdue account receivable. If the company accrues interest at year-end only, how much interest revenue should be accrued on December 31, 2014? 42) A) $80 B) $240 C) $60 D) $40 8 43) A note receivable was NOT paid at maturity. Which of the following will be included in the journal entry to record the dishonoring of the note at maturity? 43) A) A debit to Cash B) A debit to Accounts receivable C) A debit to Interest expense D) A debit to Uncollectible account expense 44) On September 1, 2013, Adirondac Marine Supplies made a loan to one of its customers. The customer signed a 6-month note for $1,500 at 10%. How much interest revenue did Adirondac record in the year 2013? 44) A) $150 B) $125 C) $50 D) $100 45) On December 1, 2014, Parsons Sales sold machinery to a customer for $2,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and sign a 9-month note at 12% interest. How much interest revenue was earned for the entire term of the note? 45) A) $90 B) $160 C) $75 D) $180 46) Assets are listed on the balance sheet in order of liquidity. Which of the following items reflects the normal order of liquidity? 46) A) Cash, Inventory, Notes receivable, Accounts receivable B) Notes receivable, Inventory, Accounts receivable, Cash C) Plant assets, Inventory, Notes receivable, Cash D) Cash, Accounts receivable, Inventory, Notes receivable 47) ABC receives a $9,000, 8%, 2-month note. The maturity value is: 47) A) $720. B) $9,120. C) $120. D) $9,720. 48) Which of the following is included in the cost of a plant asset? 48) A) Wages of workers who use the asset B) Amounts paid to ready the asset for its intended use C) Regular maintenance cost D) Normal repair cost 49) Which of the following would be expensed, rather than capitalized? 49) A) Addition to storage capacity B) Major engine overhaul C) Oil change and lubrication D) Modification for new use 50) A company’s accountant capitalizes a payment that should be recorded as an expense. Which of the following is TRUE? 50) A) Assets are overstated. B) Expenses are overstated. C) Liabilities are overstated. D) Revenue is overstated. 51) Roberts Construction Company paid $40,000 for equipment with a market value of $45,000. At which of the following amounts should the equipment be recorded? 51) A) $42,500 B) $5,000 C) $40,000 D) $45,000 52) A company purchased a used machine for $80,000. The machine required installation costs of $8,000 and insurance while in transit of $500. At which of the following amounts would the equipment be recorded? 52) A) $80,500 B) $80,000 C) $88,000 D) $88,500 9 53) Which of the following items should be depreciated? 53) A) Land B) Tangible property, plant, and equipment other than land C) Intangible property D) Natural resources 54) Which of the following items should NOT be depreciated, depleted, or amortized? 54) A) Land B) Tangible property, plant, and equipment other than land C) Natural resources D) Intangible property 55) Which of the following depreciation methods allocates a fixed amount of depreciation to miles driven, hours used, or some other measure of the asset’s utilization? 55) A) Straight-line B) Double-declining-balance C) Units-of-production D) Declining-balance 56) Which of the following properly describes accumulated depreciation? 56) A) Accumulated depreciation is a contra asset account. B) Accumulated depreciation is a contra equity account. C) Accumulated depreciation is a contra liability account. D) Accumulated depreciation is an expense account. 57) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000 hours in 2013 and 12,000 in 2014. What is depreciation expense for 2013 if the company uses double-declining-balance depreciation? 57) A) $6,667 B) $12,000 C) $6,000 D) $13,333 58) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000 hours in 2013 and 12,000 in 2014. What is depreciation expense for 2013 if the company uses straight-line depreciation? 58) A) $6,000 B) $13,333 C) $12,000 D) $6,667 59) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000 hours in 2013 and 12,000 in 2014. What is depreciation expense for 2014 if the company uses straight-line depreciation? 59) A) $9,000 B) $10,000 C) $13,333 D) $6,000 10 60) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000 hours in 2013 and 12,000 in 2014. What is the book value of the machine at the end of 2014 if the company uses straight-line depreciation? 60) A) $10,000 B) $17,778 C) $20,000 D) $28,000 61) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000 hours in 2013 and 12,000 in 2014. What is depreciation expense for 2014 if the company uses units-of-production depreciation? 61) A) $9,000 B) $18,000 C) $10,000 D) $6,000 62) Lexis Company purchased equipment on January 1, 2012 for $35,500. The estimated useful life of the equipment was 7 years and the estimated residual value was $4,000. After using the straight-line method of depreciation for 3 years, the estimated useful life was revised to 9 years on January 1, 2015. How much is depreciation expense for 2015? 62) A) $2,000 B) $3,667 C) $2,444 D) $3,000 63) An asset costs $80,000 and has a salvage value of $7,000. It has a four-year life. Using double-declining-balance depreciation, Year 1 depreciation would be: 63) A) $40,000. B) $36,500. C) $20,000. D) $18,250. 64) On January 1, 2013, a company buys a truck for $42,000 cash. It has estimated residual value of $2,000, and an estimated life of 4 years, or 200,000 miles. Assume the company uses units-of-production depreciation. The truck drove 40,000 miles in 2013, 60,000 miles in 2014, 80,000 miles in 2015, and 20,000 miles in 2016. What is the depreciation rate? 64) A) $4.00/mile B) .21/mile C) .25/mile D) .20/mile 65) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $3,000 at the end of the fifth year? 65) A) $1,000 gain B) $2,000 loss C) $1,000 loss D) No gain or loss 66) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $9,000 at the end of the first year? 66) A) $1,000 gain B) No gain or loss C) $1,000 loss D) $2,000 loss 67) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $9,000 at the end of the second year? 67) A) No gain or loss B) $1,000 gain C) $1,000 loss D) $2,000 loss 11 68) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $4,500 at the end of the fourth year? 68) A) $1,500 gain B) $1,500 loss C) $500 gain D) No gain or loss 69) Which of the following items is included in the journal entry if a company sells equipment at a price greater than its book value? 69) A) A credit to Gain on sale of equipment B) A credit to Accumulated depreciation C) A debit to Loss on sale of equipment D) A debit to Equipment for its book value 70) Kelly Petroleum Products owns furniture that was purchased for $19,600. Accumulated depreciation is $17,300. The furniture was sold for $3,800. Which of the following is the correct entry to record the transaction? 70) A) Furniture 19,600 Cash 2,700 Gain on sale 5,000 Accumulated depreciation 17,300 B) Accumulated depreciation 17,300 Cash 3,800 Furniture 31,100 C) Accumulated depreciation 17,300 Cash 3,800 Gain on sale 1,500 Furniture 19,600 D) Furniture 19,600 Gain on sale 3,800 Cash 2,700 Accumulated depreciation 17,300 12 71) Kelly Petroleum Products owns fully depreciated furniture that was purchased for $26,500. The furniture had an estimated useful life of 8 years and an estimated residual value of $2,500. The furniture was sold for $2,700. Which of the following is the correct entry to record the transaction? 71) A) Furniture 2,000 Cash 2,700 Loss on sale 19,300 Accumulated depreciation 24,000 B) Accumulated depreciation 24,000 Cash 2,700 Gain on sale 200 Furniture 26,500 C) Accumulated depreciation 26,500 Cash 2,700 Gain on sale 2,700 Furniture 26,500 D) Furniture 26,500 Gain on sale 200 Cash 2,700 Accumulated depreciation 24,000 72) On September 1, 2012, Algernon Company sold a truck for $15,000 cash. The truck was originally purchased for $40,000, had an estimated salvage value of $4,000 and an estimated life of 6 years. Algernon had recorded depreciation of $30,000 through the end of 2011 using the straight-line method. Algernon had to update the depreciation prior to sale. After updating the depreciation, how much was the total accumulated depreciation on the truck? 72) A) $36,000 B) $34,250 C) $34,000 D) $34,440 73) A plant asset is fully depreciated when the book value is: 73) A) greater than the salvage value. B) equal to the salvage value. C) equal to the market value. D) greater than the market value. 74) Albatross Services scrapped a van. The van originally cost $40,000, had an estimated salvage value of zero, and an estimated life of 10 years. At the time it was scrapped, it had accumulated depreciation of $40,000. What was the effect of scrapping the van? 74) A) Gain of $2,000 B) Loss of $1,000 C) No gain or loss D) Loss of $2,000 75) Which of the following is NOT considered a plant asset? 75) A) Copyright B) Equipment C) Land D) Building 13 76) On January 1, 2012, Portwell Company purchased a patent for $200,000. They estimate a useful life of 4 years. What entry is needed at the end of the first year? 76) A) Loss on patents 50,000 Patents 50,000 B) Amortization expense – patents 50,000 Accumulated amortization 50,000 C) Amortization expense – patents 50,000 Patents 50,000 D) Patents 50,000 Amortization expense – patents 50,000 77) A newly created design business called Smart Art is just finishing up its first year of operations. During the year, there were credit sales of $40,000 and collections of $36,000. One account for $650 was written off. Smart Art uses the aging-of-accounts method to account for uncollectible account expense, and has calculated an amount of $200 as their estimate of uncollectible amounts at year-end. At the end of the year, what is the ending balance in Accounts receivable? 77) A) $36,000 B) $3,350 C) $4,000 D) $39,350 78) The bank recorded a $2,000 deposit as $200. How would this information be included on the bank reconciliation? 78) A) An addition on the bank side B) An addition on the book side C) A deduction on the bank side D) A deduction on the book side 79) The bank collected a note receivable of $1,000. How would this information be included on the bank reconciliation? 79) A) A deduction on the book side B) An addition on the bank side C) An addition on the book side D) A deduction on the bank side 80) Which of the following is NOT one of the purposes of internal control? 80) A) To encourage employees to follow company policy B) To ensure accurate, reliable accounting records C) To guarantee that a business makes a profit D) To safeguard the company’s assets 14

1) Sarbanes-Oxley was passed in response to which of the following? 1) A) The mounting government deficit B) The accounting scandals of WorldCom and Enron C) The stock market crash of 2002 D) The savings and loan bailout

2) Which is NOT a provision of Sarbanes-Oxley? 2) A) Those who commit securities fraud may be sentenced to 25 years in prison. B) Accounting firms are allowed to provide both audit services and a full range of consulting

services to their public company clients. C) Auditors of public companies are under the scrutiny of the Public Company Accounting

Oversight Board. D) Public companies must issue an internal control report evaluated by an outside auditor.

3) Which of the following items will NOT appear on the book side of the reconciliation? 3) A) The bank collected a note receivable of $1,000. B) A deposit was in transit. C) The bank charged a service fee of $20. D) A nonsufficient funds check of $75 was returned to the bank. 4) A check was written by a business for $205, but recorded in the cash payments journal as $502.

How would this error be included on the bank reconciliation?

4) A) A deduction on the bank side B) An addition on the book side C) A deduction on the book side D) An addition on the bank side 5) A check of $75 deposited by a company was returned to the bank for nonsufficient funds. How

would this information be included on the bank reconciliation?

5) A) An addition on the bank side B) A deduction on the bank side C) A deduction on the book side D) An addition on the book side 6) Check Number 6135 for $576 was incorrectly entered as $657. Which adjustment needs to be

made? 6) A) Decrease the book balance. B) Increase the bank statement balance. C) Decrease the bank statement balance. D) Increase the book balance.

7) The following information is available for Matt’s Unlimited Company for the current month. What

is the adjusted book balance on the bank reconciliation?

Book balance end of the month $5,575 Outstanding checks 584 Deposits in transit 2,500 Service charges 75 Interest revenue 25

7) A) $5,500 B) $7,466 C) $5,550 D) $5,525 1

8) A company received a bank statement showing a balance of $62,300. Reconciling items were

outstanding checks of $1,450 and a deposit in transit of $8,500. What is the company’s adjusted

bank balance? 8) A) $69,350 B) $70,850 C) $60,850 D) $72,250

9) A company received a bank statement with a balance of $5,350. Reconciling items included a

bookkeeper error of $200 (a $300 check recorded as $500), two outstanding checks totaling $720, a

service charge of $15, a deposit in transit of $180, and interest revenue of $21. What is the adjusted

9) A) $4,610 B) $5,016 C) $4,810 D) $4,636 10) Which of the following would be included in a journal to record an NSF check?

10) A) A debit to Accounts payable and a credit to Cash B) A debit to Miscellaneous expense and a credit to Cash C) A debit to Cash and a credit to Accounts receivable D) A debit to Accounts receivable and a credit to Cash

11) In reconciling a bank statement, the bank balance is $1,800 and the checkbook balance is $1,205.

Which of the following is the MOST probable reason why the bank balance is larger than the book

11) A) A deposit in transit was made at the end of the month. B) There are outstanding checks. C) The bank has deducted certain amounts for bank service charges. D) The company erroneously recorded a check for an amount less than actual.

12) The following information is available for Andersen Company for the month ending June 30, 2008.

• Balance per the bank statement is $10,241.43. • Balance per books is $9,745.06. • Check #506 for $1,948.52 and check #510 for $1,800.25 were not shown on the June 30 bank statement.

• A deposit in transit of $5,113.40 had not been received by the bank when the bank statement was generated.

• A bank debit memo indicated an NSF check in the amount of $79 written by Bruce Garrett to Andersen Company on June 13.

• A bank credit memo indicated a note collected by the bank of $1,900 and interest revenue of $75 on June 20.

• The bank statement indicated service charges of $35.

What is the adjusted book balance? 12) A) $7,884.06 B) $11,109.69 C) $11,606.06 D) $7,971.29 2

13) Please refer to the following bank reconciliation:

No journal entries are required for the reconciling items on the bank side because: 13) A) the adjusted balances on both sides are the same amounts. B) those transactions have already been recorded in the company ledger. C) those transactions are already included in the bank balance at June 30. D) the amounts are immaterial.

14) Please refer to the following information needed to reconcile the cash balance for Woods Paper

• A deposit of $5,794.62 is in transit. • Outstanding checks total $1,533.25. • The book balance is $5,695.62. • The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month’s rent. • The bank balance at February 28, 2008 was $16,500.25. • A deposit of $300 was credited by the bank for $3,000. • A customer’s check for $1,280 was returned for nonsufficient funds. • The bank service charge is $70.

Which of the following journal entries is needed to adjust for the booking error? 14) A) Cash 13,716 Sales revenue 13,716 B) Booking error 1,524 Cash 1,524 C) Cash 13,716 Rent expense 13,716 D) Rent expense 15,240 Cash 1,524

15) Please refer to the following information needed to reconcile the cash balance for Woods Paper

• A deposit of $5,794.62 is in transit. • Outstanding checks total $1,533.25. • The book balance is $5,695.62. • The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month’s rent. • The bank balance at February 28, 2008 was $16,500.25. • A deposit of $300 was credited by the bank for $3,000. • A customer’s check for $1,280 was returned for nonsufficient funds. • The bank service charge is $70.

Which of the following journal entries is needed to adjust for the NSF check? 15) A) Accounts payable 1,280 Cash 1,280 B) Cash 1,280 Sales revenue 1,280 C) NSF check 1,280 Cash 1,280 D) Accounts receivable 1,280 Cash 1,280

16) A company has a petty cash fund amount of $200. When replenished, it has petty cash receipts of

$15 for gas expense, $23 for postage expense, $18 for supplies expense and $12 for miscellaneous

expenses. In the journal entry, Cash would be credited for: 16) A) $42. B) $132. C) $200. D) $68.

17) A fund for petty cash of $200 has $17 remaining in cash, $3 in miscellaneous cash receipts and an

additional $180 specific cash receipts. The debit to Cash short and over would be: 17) A) $180. B) $183. C) . D) $17. 18) A petty cash fund was established with a $250 balance. It currently has cash of $31 and petty cash

tickets totaling $219. Which of the following would be included in the entry to replenish the fund? 18) A) A debit to petty cash for $31 B) A credit to cash in bank for $31 C) A credit to petty cash for $219 D) Debits to various expenses for $219 19) A petty cash fund was established with a $250 balance. It currently has cash of $31 and petty cash

tickets totaling $219. Which of the following would be included in the entry to replenish the fund? 19) A) A debit to petty cash for $31 B) A credit to petty cash for $219 C) A credit to cash in bank for $219 D) A credit to cash in bank for $31 4

20) A petty cash fund was established with a $400 balance. It currently has cash of $15 and petty cash

Travel expense $120 Office supplies $200 Equipment rental expense $70 The journal entry to replenish the account would be which of the following: 20) A) Credit Petty cash fund $5 B) Credit Cash short & over for $5 C) Debit to Cash short & over for $5 D) Debit Petty cash fund $5 21) Which of the following statements is TRUE? 21) A) Accounts receivable are liabilities. B) Notes receivable are always due in 30 days. C) Accounts receivable are more liquid than cash. D) Notes receivable are longer in term than accounts receivable. 22) Which of the following are the two methods of accounting for uncollectible receivables? 22) A) The allowance method and the liability method B) The asset method and the sales method C) The allowance method and the direct write-off method D) The direct write-off method and the liability method 23) Which of the following are the two methods of estimating uncollectible receivables? 23) A) The aging-of-accounts-receivable method and the percent-of-sales method B) The allowance method and the amortization method C) The direct write-off method and the percent-of-completion method D) The gross-up method and the direct write-off method 24) The Allowance for uncollectible accounts currently has a credit balance of $200. The company’s

management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are

$115,000. What will be the amount of Uncollectible account expense reported on the income

statement? 24) A) $2,675 B) $2,875 C) $3,075 D) $3,275 25) The allowance for uncollectible accounts currently has a credit balance of $200. The company’s

management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are

$115,000. What will be the balance of the Allowance for uncollectible accounts reported on the

balance sheet? 25) A) $3,275 B) $2,875 C) $3,075 D) $2,675 26) The Allowance for uncollectible accounts currently has a credit balance of $900. After analyzing

the accounts in the accounts receivable subsidiary ledger using the aging-of-accounts method, the company’s management estimates that uncollectible accounts will be $15,000. What will be the

amount of Uncollectible accounts expense reported on the income statement? 26) A) $14,100 B) $15,000 C) $14,900 D) $15,900 5

27) The Allowance for uncollectible accounts currently has a credit balance of $900. After analyzing

the accounts in the accounts receivable subsidiary ledger using the aging-of-accounts method, the company’s management estimates that uncollectible accounts will be $15,000. What will be the

balance of the Allowance for uncollectible accounts reported on the balance sheet? 27) A) $15,000 B) $15,900 C) $14,100 D) $14,900 28) The Allowance for uncollectible accounts currently has a debit balance of $900. After analyzing the

accounts in the accounts receivable subsidiary ledger using the aging-of-accounts method, the company’s

management estimates that uncollectible accounts will be $15,000. What will be the amount of

Uncollectible account expense reported on the income statement? 28) A) $14,100 B) $15,900 C) $14,900 D) $15,000 29) The Allowance for uncollectible accounts currently has a debit balance of $900. After analyzing the

accounts in the accounts receivable subsidiary ledger, the company’s management estimates that

uncollectible accounts will be $15,000. What will be the balance of the Allowance for uncollectible

accounts reported on the balance sheet? 29) A) $15,000 B) $15,900 C) $14,100 D) $14,900 30) The following information is from the 2013 records of Armadillo Camera Shop:

Accounts receivable, December 31, 2013 $20,000 (debit) Allowance for uncollectible accounts, December 31, 2013

prior to adjustment 600 (debit) Net credit sales for 2013 95,000 Accounts written off as uncollectible during 2013 7,000 Cash sales during 2013 27,000 Uncollectible accounts expense is estimated by the percent-of-sales method. Management estimates that 3% of net credit sales will be uncollectible. Which of the following will be the

amount of Uncollectible accounts expense? 30) A) $2,250 B) $7,000 C) $2,850 D) $3,450 31) The following information is from the 2013 records of Armadillo Camera Shop:

Accounts receivable, December 31, 2013 $20,000 (debit) Allowance for uncollectible accounts, December 31, 2013

prior to adjustment 600 (debit) Net credit sales for 2013 95,000 Accounts written off as uncollectible during 2013 7,000 Cash sales during 2013 27,000 Uncollectible accounts expense is estimated by the aging-of-accounts-receivable method. Management estimates that $2,850 of accounts receivable will be uncollectible. Which of the

following will be the amount of Uncollectible accounts expense? 31) A) $7,000 B) $2,250 C) $2,850 D) $3,450 6

32) A newly created design business called Smart Art is just finishing up its first year of operations.

During the year, there were credit sales of $40,000 and collections of $36,000. One account for $650

was written off. Smart Art uses the percentage-of-sale method to account for uncollectible account expense, and has decided to use a factor of 2% for their year-end adjustment of uncollectible account expense. At the end of the year, what is the balance in Uncollectible account

expense? 32) A) $1,450 B) $800 C) $250 D) $150 33) A newly created design business called Smart Art is just finishing up its first year of operations.

During the year, there were credit sales of $40,000 and collections of $36,000. One account for $650

was written off. Smart Art uses the aging-of-accounts method to account for uncollectible account expense, and has calculated an amount of $200 as their estimate of uncollectible amounts at

year-end. At the end of the year, what is the ending balance in the Allowance for uncollectible accounts? 33) A) $1,450 B) $200 C) $800 D) $150 34) At the beginning of 2014, Mark’s sales had the following ledger balances:

During the year there were $450,000 of credit sales, $460,000 of collections, and $3,700 of

write-offs. At the end of the year, Mark’s adjusted for uncollectible account expense using the aging-of-accounts method, and calculated an amount of $1,600 as their estimate of uncollectible accounts. At the end of the year, what was the balance in the Uncollectible account expense? 34) A) $4,300 B) $2,700 C) $5,400 D) $2,300 35) Which of the following entries would be used to account for uncollectible receivables using the

direct write-off method? 35) A) Allowance for uncollectible accounts is debited and Uncollectible accounts expense is

credited. B) Accounts receivable is debited and Uncollectible accounts expense is credited. C) Uncollectible accounts expense is debited and Allowance for uncollectible accounts is

credited. D) Uncollectible accounts expense is debited and Accounts receivable is credited. 36) The following information is from the 2013 records of Armadillo Camera Shop:

Accounts receivable, December 31, 2013 $20,000 (debit) Net credit sales for 2013 95,000 Accounts written off as uncollectible during 2013 7,000 Cash sales during 2013 27,000 Uncollectible accounts expense is determined by the direct write-off method. Which of the following will be the amount of Uncollectible accounts expense? 36) A) $3,450 B) $2,250 C) $7,000 D) $2,850 7

37) A company uses the direct write-off method to account for uncollectible receivables. Which of the following is included in the entry to write off an uncollectible account? 37) A) A debit to Allowance for uncollectible-accounts B) A credit to the customer’s Account receivable C) A credit to the Allowance for uncollectible accounts D) No entry is made to write off uncollectible accounts. 38) Charlton Sales has a receivable for $92 that they now deem to be uncollectible. Charlton uses the

direct write-off method. Which of the following entries correctly records the write-off? 38) A) Allowance for uncollectible accounts 92 Accounts Receivable 92 B) Cash 92 Accounts receivable 92 C) Uncollectible accounts expense 92 Accounts receivable 92 D) Accounts receivable 92 Uncollectible accounts expense 92 39) What is the maturity value of a 3-month, 12% note for $20,000? 39) A) $20,000 B) $21,200 C) $20,600 D) $22,400 40) A company issues a 60-day, 12% note for $11,000. What is the principal amount? 40) A) $220 B) $10,780 C) $11,000 D) $11,220 41) On October 2, 2014, Allen Jewelry Company accepted a 4-month, 10% note for $2,400 in settlement of an overdue account receivable. What is the journal entry to record the acceptance of the note? 41) A) Notes receivable 2,400 Accounts receivable 2,400 B) Notes receivable 2,400 Cash 2,400 C) Accounts receivable 2,400 Notes receivable 2,400 D) Cash 2,400 Sales revenue 2,400 42) On October 1, 2014, Allen Jewelry Company accepted a 4-month, 10% note for $2,400 in settlement of an overdue account receivable. If the company accrues interest at year-end only, how much interest revenue should be accrued on December 31, 2014? 42) A) $80 B) $240 C) $60 D) $40 8

43) A note receivable was NOT paid at maturity. Which of the following will be included in the

journal entry to record the dishonoring of the note at maturity? 43) A) A debit to Cash B) A debit to Accounts receivable C) A debit to Interest expense D) A debit to Uncollectible account expense 44) On September 1, 2013, Adirondac Marine Supplies made a loan to one of its customers. The

customer signed a 6-month note for $1,500 at 10%. How much interest revenue did Adirondac record in the year 2013? 44) A) $150 B) $125 C) $50 D) $100 45) On December 1, 2014, Parsons Sales sold machinery to a customer for $2,000. The customer could

not pay at the time of sale, but agreed to pay 9 months later, and sign a 9-month note at 12% interest. How much interest revenue was earned for the entire term of the note? 45) A) $90 B) $160 C) $75 D) $180 46) Assets are listed on the balance sheet in order of liquidity. Which of the following items reflects the

normal order of liquidity? 46) A) Cash, Inventory, Notes receivable, Accounts receivable B) Notes receivable, Inventory, Accounts receivable, Cash C) Plant assets, Inventory, Notes receivable, Cash D) Cash, Accounts receivable, Inventory, Notes receivable 47) ABC receives a $9,000, 8%, 2-month note. The maturity value is: 47) A) $720. B) $9,120. C) $120. D) $9,720. 48) Which of the following is included in the cost of a plant asset? 48) A) Wages of workers who use the asset B) Amounts paid to ready the asset for its intended use C) Regular maintenance cost D) Normal repair cost 49) Which of the following would be expensed, rather than capitalized? 49) A) Addition to storage capacity B) Major engine overhaul C) Oil change and lubrication D) Modification for new use 50) A company’s accountant capitalizes a payment that should be recorded as an expense. Which of

the following is TRUE? 50) A) Assets are overstated. B) Expenses are overstated. C) Liabilities are overstated. D) Revenue is overstated. 51) Roberts Construction Company paid $40,000 for equipment with a market value of $45,000. At

which of the following amounts should the equipment be recorded? 51) A) $42,500 B) $5,000 C) $40,000 D) $45,000 52) A company purchased a used machine for $80,000. The machine required installation costs of

$8,000 and insurance while in transit of $500. At which of the following amounts would the

equipment be recorded? 52) A) $80,500 B) $80,000 C) $88,000 D) $88,500 9

53) Which of the following items should be depreciated? 53) A) Land B) Tangible property, plant, and equipment other than land C) Intangible property D) Natural resources 54) Which of the following items should NOT be depreciated, depleted, or amortized? 54) A) Land B) Tangible property, plant, and equipment other than land C) Natural resources D) Intangible property 55) Which of the following depreciation methods allocates a fixed amount of depreciation to miles

driven, hours used, or some other measure of the asset’s utilization? 55) A) Straight-line B) Double-declining-balance C) Units-of-production D) Declining-balance 56) Which of the following properly describes accumulated depreciation? 56) A) Accumulated depreciation is a contra asset account. B) Accumulated depreciation is a contra equity account. C) Accumulated depreciation is a contra liability account. D) Accumulated depreciation is an expense account. 57) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The

company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated

sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000

hours in 2013 and 12,000 in 2014.

What is depreciation expense for 2013 if the company uses double-declining-balance depreciation? 57) A) $6,667 B) $12,000 C) $6,000 D) $13,333 58) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The

company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated

sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000

hours in 2013 and 12,000 in 2014.

What is depreciation expense for 2013 if the company uses straight-line depreciation? 58) A) $6,000 B) $13,333 C) $12,000 D) $6,667 59) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The

company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated

sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000

hours in 2013 and 12,000 in 2014.

What is depreciation expense for 2014 if the company uses straight-line depreciation? 59) A) $9,000 B) $10,000 C) $13,333 D) $6,000 10

60) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The

company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated

sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000

hours in 2013 and 12,000 in 2014.

What is the book value of the machine at the end of 2014 if the company uses straight-line depreciation? 60) A) $10,000 B) $17,778 C) $20,000 D) $28,000 61) On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000. The

company expects to use the machine a total of 24,000 hours over the next 6 years. The estimated

sales price of the machine at the end of 6 years is $4,000. The company used the machine 8,000

hours in 2013 and 12,000 in 2014.

What is depreciation expense for 2014 if the company uses units-of-production depreciation? 61) A) $9,000 B) $18,000 C) $10,000 D) $6,000 62) Lexis Company purchased equipment on January 1, 2012 for $35,500. The estimated useful life of

the equipment was 7 years and the estimated residual value was $4,000. After using the

straight-line method of depreciation for 3 years, the estimated useful life was revised to 9 years on January 1, 2015. How much is depreciation expense for 2015? 62) A) $2,000 B) $3,667 C) $2,444 D) $3,000 63) An asset costs $80,000 and has a salvage value of $7,000. It has a four-year life. Using double-declining-balance depreciation, Year 1 depreciation would be: 63) A) $40,000. B) $36,500. C) $20,000. D) $18,250. 64) On January 1, 2013, a company buys a truck for $42,000 cash. It has estimated residual value of

$2,000, and an estimated life of 4 years, or 200,000 miles. Assume the company uses

units-of-production depreciation. The truck drove 40,000 miles in 2013, 60,000 miles in 2014, 80,000 miles in 2015, and 20,000 miles in 2016. What is the depreciation rate? 64) A) $4.00/mile B) .21/mile C) .25/mile D) .20/mile 65) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual

value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $3,000 at the end of the fifth year? 65) A) $1,000 gain B) $2,000 loss C) $1,000 loss D) No gain or loss 66) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual

value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $9,000 at the end of the first year? 66) A) $1,000 gain B) No gain or loss C) $1,000 loss D) $2,000 loss 67) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual

value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $9,000 at the end of the second year? 67) A) No gain or loss B) $1,000 gain C) $1,000 loss D) $2,000 loss 11

68) An asset was purchased for $12,000. The asset’s estimated useful life was 5 years and its residual

value was $2,000. Straight-line depreciation was used. How much gain or loss is reported if the asset is sold for $4,500 at the end of the fourth year? 68) A) $1,500 gain B) $1,500 loss C) $500 gain D) No gain or loss 69) Which of the following items is included in the journal entry if a company sells equipment at a

price greater than its book value? 69) A) A credit to Gain on sale of equipment B) A credit to Accumulated depreciation C) A debit to Loss on sale of equipment D) A debit to Equipment for its book value 70) Kelly Petroleum Products owns furniture that was purchased for $19,600. Accumulated

depreciation is $17,300. The furniture was sold for $3,800. Which of the following is the correct

entry to record the transaction? 70) A) Furniture 19,600 Cash 2,700 Gain on sale 5,000 Accumulated depreciation 17,300 B) Accumulated depreciation 17,300 Cash 3,800 Furniture 31,100 C) Accumulated depreciation 17,300 Cash 3,800 Gain on sale 1,500 Furniture 19,600 D) Furniture 19,600 Gain on sale 3,800 Cash 2,700 Accumulated depreciation 17,300

71) Kelly Petroleum Products owns fully depreciated furniture that was purchased for $26,500. The

furniture had an estimated useful life of 8 years and an estimated residual value of $2,500. The

furniture was sold for $2,700. Which of the following is the correct entry to record the transaction? 71) A) Furniture 2,000 Cash 2,700 Loss on sale 19,300 Accumulated depreciation 24,000 B) Accumulated depreciation 24,000 Cash 2,700 Gain on sale 200 Furniture 26,500 C) Accumulated depreciation 26,500 Cash 2,700 Gain on sale 2,700 Furniture 26,500 D) Furniture 26,500 Gain on sale 200 Cash 2,700 Accumulated depreciation 24,000 72) On September 1, 2012, Algernon Company sold a truck for $15,000 cash. The truck was originally

purchased for $40,000, had an estimated salvage value of $4,000 and an estimated life of 6 years.

Algernon had recorded depreciation of $30,000 through the end of 2011 using the straight-line method. Algernon had to update the depreciation prior to sale. After updating the depreciation,

how much was the total accumulated depreciation on the truck? 72) A) $36,000 B) $34,250 C) $34,000 D) $34,440 73) A plant asset is fully depreciated when the book value is: 73) A) greater than the salvage value. B) equal to the salvage value. C) equal to the market value. D) greater than the market value. 74) Albatross Services scrapped a van. The van originally cost $40,000, had an estimated salvage value

of zero, and an estimated life of 10 years. At the time it was scrapped, it had accumulated

depreciation of $40,000. What was the effect of scrapping the van? 74) A) Gain of $2,000 B) Loss of $1,000 C) No gain or loss D) Loss of $2,000 75) Which of the following is NOT considered a plant asset? 75) A) Copyright B) Equipment C) Land D) Building 13

76) On January 1, 2012, Portwell Company purchased a patent for $200,000. They estimate a useful life

of 4 years. What entry is needed at the end of the first year? 76) A) Loss on patents 50,000 Patents 50,000 B) Amortization expense – patents 50,000 Accumulated amortization 50,000 C) Amortization expense – patents 50,000 Patents 50,000 D) Patents 50,000 Amortization expense – patents 50,000 77) A newly created design business called Smart Art is just finishing up its first year of operations.

During the year, there were credit sales of $40,000 and collections of $36,000. One account for $650

was written off. Smart Art uses the aging-of-accounts method to account for uncollectible account expense, and has calculated an amount of $200 as their estimate of uncollectible amounts at

year-end. At the end of the year, what is the ending balance in Accounts receivable? 77) A) $36,000 B) $3,350 C) $4,000 D) $39,350 78) The bank recorded a $2,000 deposit as $200. How would this information be included on the bank

reconciliation? 78) A) An addition on the bank side B) An addition on the book side C) A deduction on the bank side D) A deduction on the book side 79) The bank collected a note receivable of $1,000. How would this information be included on the

bank reconciliation? 79) A) A deduction on the book side B) An addition on the bank side C) An addition on the book side D) A deduction on the bank side 80) Which of the following is NOT one of the purposes of internal control? 80) A) To encourage employees to follow company policy B) To ensure accurate, reliable accounting records C) To guarantee that a business makes a profit D) To safeguard the company’s assets 14

Interested in a PLAGIARISM-FREE paper based on these particular instructions. with 100% confidentiality?


Standard Pitching

Standard Pitching
Year Age Tm Lg W L W-L% ERA G GS GF CG SHO SV IP H R ER HR BB IBB SO HBP BK WP BF ERA+ FIP WHIP H9 HR9 BB9 SO9 SO/W Awards
199820SFG-minA-,A+61.8573.241414000075.0603127820092264304 1.0677.21.02.411.04.60SKZ,SJO NORW,CALL
199921SFG-minA+,AA46.4003.861919000098.077514210420109514411 1.2147.10.93.910.02.60SJO,SHV CALL,TL
200022SFG-minAA610.3754.2327270100155.11538273156921471345682 1.4298.90.94.08.52.13SHV TL
200022SFGNL00 0.004030006.0400020600024 2.131.0006.00.03.09.03.00
200123SFG-PIT-minAAA56.4553.211616000089.2613332833086212356 1.0486.10.83.38.62.61FRE,NVL PCL
200123TOTNL05.0006.75152800034.2393126620124202164625.821.70210.11.65.26.21.20
200123SFGNL03.0005.65130800028.2292118514017202130715.801.5009.11.64.45.31.21
200123PITNL02.00012.002200006.010108161700034405.882.66715.01.59.010.51.17
200224PIT-minAA,A+26.2506.221212000059.1664141517055712259 1.39910.00.82.68.33.24ATO,LBG EL,CARL
200325PIT-minAAA128.6004.2926260110149.0142757112545146606643 1.3158.60.73.38.82.70NVL PCL
200325PITNL22.5006.5565000022.030191619315201108683.761.77312.30.43.76.11.67
200426PITNL613.3166.5031264000133.0148979622677921003610665.551.61710.01.54.56.21.37
200527PITNL22.5004.434401900081.1824340540152807369954.311.5009.10.64.45.81.30
200628PIT-minAAA45.4442.661110010067.2542320512343401269 0.9757.20.71.65.73.58INA IL
200628PITNL00 6.39200700038.0442727216227714178704.231.57910.40.53.86.41.69
201032PHI-LAA-minAAA38.2734.813314600195.110761518622110603454 1.77310.10.85.910.41.77LHV,SLK IL,PCL
201133SFG-minAAA201.0001.5922000011.18321501700047 1.1476.40.84.013.53.40FRE PCL
2011 33SFGNL137.6502.7130281110179.21646254156161395117521293.671.2528.20.83.17.02.28AS,CYA-11
201234SFG-minAAA101.0001.8022000010.09220401200041 1.3008.10.03.610.83.00FRE PCL
201234SFGNL149.6093.3731310000189.21717671176271588037881053.701.2288.10.82.97.52.55
201335SFG-minAA,A+,Rk21.6671.7244000015.213332301310060 1.0217.51.11.77.54.33RMD,SJO,GNT EL,CALL,ARIZ
201335SFGNL46.4005.7319190000103.212473661538267603467604.911.56310.81.33.35.81.76
201436SFGNL813.3814.0032320100184.2178868218582151902780863.851.2788.70.92.87.42.60
201537SFGNL911.4504.6733226000135.0140767017582108301598824.531.4679.31.13.97.21.86
201638PIT-minAAA,AA12.3332.8644000022.01777430800082 0.9097.01.61.23.32.67INA,ATO IL,EL
201638PITNL37.3004.812414200082.18051441140261404366865.001.4578.71.24.46.71.53
12 Yrs6175.4494.48289179502101190.0120464159212947135900642315204844.331.4089.11.03.66.81.91
162 Game Avg.911.4494.4842267000173 175938619685131905756844.331.4089.11.03.66.81.91
SFG (7 yrs)4849.4953.9316213218210827.18103943618729319646331123539914.071.3338.80.93.27.02.20
PIT (6 yrs)1326.3335.731274732000362.23942472314217816254311191665754.911.5779.81.04.46.31.43

Columnists

The Coliseum has done its job, better than anyone could have imagined when this saga began.

This Psalm begins with a clear and unambiguous plural imperative to all people to praise God.

This month, America observes two landmarks of liberation that occurred more than a century apart.

Verse 1 is the most important verse in this glorious tiny Psalm and may well be the most important verse in the Bible

College can be tricky to navigate and at times, isolating, says Sanaa Nadim, of the Islamic Society Interfaith Center at Stony Brook University.

If you could ask God just one question and be assured that God would give you the full truth in God's answer to you, what would that question be?

This week's clergy discuss how proof of alien life-forms as well as an actual visit by extraterrestrials should be greeted by this planet's faithful.

This week's clergy discuss how those who have given all are remembered in special prayers, sermons and memorial services.

What produces a wide grin in my soul is that what we humbly accept in trying to understand machines, we arrogantly do not accept in trying to understand God.


Resources

Levels and Trends in Child Mortality

Subnational Under-five Mortality Estimates, 1990–2019

Association between ethnicity and under-5 mortality: Analysis of data from demographic surveys from 36 low-income and middle-income countries

National, regional, and global levels and trends in neonatal mortality between 1990 and 2017, with scenario-based projections to 2030: A systematic analysis

Changes in the spatial distribution of the under-five mortality rate: Small-area analysis of 122 DHS surveys in 262 subregions of 35 countries in Africa

Children in Africa: Key statistics on child survival and population

National and regional under-5 mortality rate by economic status for low-income and middle-income countries: A systematic assessment

Every Child Alive: The urgent need to end newborn deaths

Committing to Child Survival: A Promise Renewed 2015

Global, Regional, and National Levels and Trends in Under-5 Mortality between 1990 and 2015, with Scenario-based Projections to 2030: A systematic analysis by the UN Inter-agency Group for Child Mortality Estimation

Committing to Child Survival: A Promise Renewed – 2014

National, Regional, and Global Sex Ratios of Infant, Child, and Under-5 Mortality and Identification of Countries with Outlying Ratios: A systematic assessment


13 Unforgettable Things About the Year 2013

From the year's biggest stories to who and what we got addicted to in 2013.

2013's Hottest Stars and Addicting Trends

Dec. 19, 2013— -- intro: As the year 2014 quickly approaches, another memorable year full of incredible news and remarkable people comes to an end.

In 2013, stories, such as the Boston Marathon bombing and the Cleveland kidnapping, captivated the world. People also eagerly awaited the verdicts from the controversial George Zimmerman and Jodi Arias trials.

New words "twerk" and "selfie" were added to the dictionary this year, and the world welcomed a new pope and a new royal baby.

Heroes emerged to inspire with their words and actions throughout 2013, while public figures fell from grace for their scandals. Several celebrities found new love or fell out of it, and other icons said goodbye forever.

Click through to see 13 unforgettable things about the year 2013.

quicklist: 1category: 13 Unforgettable Things About 2013title: 1. Stories That Captivated the Worldtext: On March 13, Pope Francis became the first pope to emerge from Latin America. The following month on April 15, two homemade bombs ripped through the crowd of fans and runners at the Boston Marathon finish line, killing three and wounding nearly 300 others.

Another area of the country was hit by tragedy on April 17, when an explosion at a fertilizer plant in West, Texas, killed 15 people, nine of whom were first responders. On May 11, the nation heard a 911 call 10 years in the making, when Amanda Berry revealed that she, Michelle Knight and Gina DeJesus had been kidnapped and held captive by Ariel Castro in Cleveland.

The world focused on San Francisco International Airport on July 6 when a Boeing 777 operated by Asiana Airlines crash landed because the pilot-in-training landed the plane too short on the runway, killing three Chinese girls, one run over by a first responder truck.

When horrific images of a sarin gas attack on civilians in Syria shocked the world in August, the United States prepared to take action, but after weeks of talks, Russia negotiated a deal with Syria to give up its chemical weapons.media: 21248573

quicklist: 2category: 13 Unforgettable Things About 2013title: 2. Icons Who Said a Final Goodbye text: We said goodbye to several famous faces this year, but they will live on in the contributions and legacies they left behind.

Former South African president and leader of the anti-apartheid movement Nelson Mandela died on Dec. 5. World leaders and celebrities were among the millions who paid tribute to the civil rights hero when he was laid to rest last Sunday.

Actor Paul Walker was killed in a car crash on Nov. 30, devastating friends, family and his millions of fans. His "Fast and Furious" co-stars Tyrese Gibson and Vin Diesel both visited the crash site in Southern California. Hollywood also lost beloved actors, Cory Monteith and James Gandolfini, last summer.

In April, former British Prime Minister Margaret Thatcher and movie critic Roger Ebert died, leaving behind incredible legacies. Controversial President Hugo Chavez of Venezuela died in March after a long battle with cancer. Musician Lou Reed, actress Marcia Wallace and author Tom Clancy died in October.media: 21240975

quicklist: 3category: 13 Unforgettable Things About 2013title: 3. 2013's Adorable Newborn Babiestext: With every new year comes new life, and in 2013, the world welcomed plenty of adorable babies, including a new royal baby.

Prince William and Duchess of Cambridge Kate Middleton welcomed a son, Prince George, on July 22. While the baby prince kept the world waiting for weeks, Kim Kardashian and Kanye West's baby girl, whom they named North West, arrived on June 15.

In Hollywood, the trend of unique baby names continued. Channing Tatum had a daughter named Everly Tatum with wife Jenna Dewan-Tatum, and Fergie and Josh Duhamel welcomed a baby boy they named Axl Jack. Jessica Simpson had her second child, Ace Knute, and Kristen Bell gave birth to her daughter Lincoln Bell, whom she lovingly referred to as a sloth.

There were also celebrities who found new joy at an older age. Elton John celebrated the birth of his second son, Elijah, and Steve Martin became a dad for the first time at age 67. Halle Berry gave birth to her son, Maceo, at the age of 47.

An exciting birth occurred in the animal world this year. Baby pandas Mei Lun and Mei Huan were born on July 15 at Zoo Atlanta, the first twin pandas to be born in the United States since 1987.media: 21239836

quicklist: 4category: 13 Unforgettable Things About 2013title: 4. You Probably Watched These Viral Videostext: Many videos went viral this year, from the funny to the inspiring to the randomly absurd. One of the most popular videos to resurface in 2013 was the "Harlem Shake" video, and another viral video that launched scores of interpretations on the Internet and even on "Dancing With the Stars" was Norwegian pop star Ylvis' smash hit "What Does the Fox Say?"

The "Worst Twerk Fail EVER" video was too good to be true. It actually turned out to be the case when ABC's Jimmy Kimmel revealed that it was a prank he'd masterminded.

However, 2-year-old Claire Konkel's video might be one of the cutest viral videos to emerge this year – she made "Good Morning America's" "Play of the Day" when she listed the reasons why she loves her mommy so much.media: 21245201

quicklist: 5category: 13 Unforgettable Things About 2013title: 5. Trials That Divided the Countrytext: The trial of George Zimmerman, a Florida man who was accused of shooting and killing Trayvon Martin, captivated the country this summer. Demonstrations and protests in outrage over the 17-year-old's death sprang up across the United States. In the end, the jury found Zimmerman not guilty of second-degree murder and manslaughter in July 2013.

Another legal issue that divided the country this year was gay marriage. Two landmark Supreme Court rulings came down on June 26. In one, the court refused to reinstate the California ballot initiative Prop 9, which banned gay marriages in that state. The other much more sweeping ruling struck down part of the Defense of Marriage Act, or DOMA, which prevented same-sex couples from receiving the same federal benefits that other couples receive.

But the case that mesmerized many was the Jodi Arias trial. Arias, who was accused of murdering her ex-boyfriend Travis Alexander in 2008, spent 18 days testifying on the stand, with her sex life taking center stage. By May 2013, Jodi Arias was found guilty of first-degree murder.media: 21238627

quicklist: 6category: 13 Unforgettable Things About 2013title: 6. Who Made This Year's Dishonor Roll?text: Justin Bieber makes the dishonor roll with his very bad year. From being caught on camera peeing in a bucket at a nightclub to his walk of shame from a Brazilian brothel, the singer had a series of controversial missteps in 2013 that even included leaving his pet monkey behind in Germany.

Celebrity chef Paula Deen earned her spot on the dishonor roll when she admitted that she had used racial slurs. Lance Armstrong made the dishonor roll this year when he admitted to taking banned substances and blood doping.

In politics, Mayor of Toronto Rob Ford joined the list of shame after admitting that he used crack cocaine, and Anthony Weiner, who used the online alias "Carlos Danger" lost the New York City mayoral election and his honor after new allegations of him sexting women emerged.

As Russia prepares for the 2014 Winter Olympics, the entire country made the dishonor roll for its anti-gay laws.media: 21238778

quicklist: 7category: 13 Unforgettable Things About 2013title: 7. The Power of Social Mediatext: The year 2013 proved social media is here to stay for good -- and not so good.

Maybe the strongest statement about the power of social media was made when the pope signed on to Twitter this year for the first time ever. Social media also played a significant role in international affairs, when cellphone images showed what appeared to be a chemical weapons attack in Syria.

In September 2013, social media was at the center of the terrorist attack in Kenya's Westgate shopping center. Anyone with a cellphone can now go global as events unfold. Social media became a major player during moments of crisis this year.

After the Boston Marathon bombing, police turned to social media for help in capturing the bombing suspects. People stepped up, which was both a blessing and a curse. Social media users misidentified several people, including Brown student Sunil Tripathi, who was missing at the time, as the suspected bombers.

But in another instance of false identification, Notre Dame football star Manti Te'o learned a hard lesson this year when he revealed that the woman he met online and fell in love with didn't actually exist.

Taking "selfies" and posting them to social media was all the rage this year. Some of the memorable selfies included Geraldo Rivera's topless shot, Chelsea Clinton's photo with her mom, Hillary Clinton, and a student's selfie with his teacher about to give birth. Even Malia and Sasha Obama got into the action and posed for a selfie together while their mother, Michelle Obama, looked on.

One of the biggest social media stories this year came from former National Security Administration contractor, Edward Snowden, who claimed to have stolen tens of thousands of confidential and classified documents from the NSA's internal computer system.media: 21238422

quicklist: 8category: 13 Unforgettable Things About 2013title: 8. The Year's Extreme and Deadly Weather Rampagestext: From a devastating typhoon to tragic tornadoes to deadly wildfires, this was a year of extreme weather.

The worst storm of the year hit the Philippines on Nov. 8, destroying nearly everything in its path and leaving more than 5,000 people dead. Typhoon Haiyan was one of the strongest storms ever recorded in history.

Halfway across the world in the United States, only one tropical storm managed to hit shores. Despite predictions of an active hurricane season, not one hurricane made landfall all season long.

Tornadoes, on the other hand, made their way through many states. On May 20, tornadoes hit Oklahoma, ripping through towns and taking 18 lives.

In November, there were 81 tornado reports in six states from Illinois to Ohio. Most tornadoes hit Illinois, making them the deadliest series of tornadoes the state has ever seen in the month of November.

Record wildfires blazed through Arizona this summer. The Yarnell Hill fire on June 30 was the fastest-moving fire in the state's history, and killed 10 firefighters with the Prescott, Ariz., fire team.media: 21239270

quicklist: 9category: 13 Unforgettable Things About 2013title: 9. Celebrities Who Fell In and Out of Lovetext: Celebrities couldn't help falling in and out of love this year. From "Modern Family" star Jesse Tyler Ferguson, who got married, to Ashton Kutcher and Demi Moore, who finally got their divorce finalized, plenty of romances both bloomed and ended in 2013.

In a simple ceremony, Kristen Bell and Dax Shepard had a courthouse wedding, while Kelly Clarkson also went for a small ceremony, marrying her husband in Tennessee. The members of 'N Sync were ushers at Chris Kirkpatrick's wedding, and Honey Boo Boo's parents had a wedding in camouflage attire.

Many other celebrities got engaged, including Hayden Panettiere, Adam Levine, Jason Sudeikis and Olivia Wilde, and the "Bachelor" Sean and his pick Catherine Giudici. But no one could top Kim Kardashian and Kanye West's engagement, which included renting out the AT&T Park in San Francisco.

Unfortunately, some celebrity couples just couldn't keep it together. Kris and Bruce Jenner announced their separation, along with Diane Lane and Josh Brolin, Richard Gere and Carey Lowell, Clint and Dina Eastwood, Julianne Hough and Ryan Seacrest, and George Clooney and Stacy Keibler.

Ladies around the world rejoiced when Liam Hemsworth became newly single after his split from Miley Cyrus, and many were devastated when Orlando Bloom and Miranda Kerr announced they would be separating after three years of marriage.media: 21238896

quicklist: 10category: 13 Unforgettable Things About 2013title: 10. What The World Couldn't Help Getting Addicted to In 2013text: The world learned countless new words in 2013. People took endless "selfies" for Instagram, and the word "selfie" even became Oxford dictionary's "Word of the Year." Also added to dictionaries was the word, "twerk" and "derp."

Everyone can thank Miley Cyrus for taking twerking mainstream in August at the MTV Video Music Awards. She danced alongside Robin Thicke, who performed his song "Blurred Lines," another 2013 addiction.

The Geico camel commercial made many eager for Wednesday to come along so they could yell "Hump Day!" to anyone in sight. But there weren't any commercials when people were busy "binge-watching" shows on services like Netflix. Some of the TV shows viewers became addicted to were "Breaking Bad," "House of Cards," "Scandal," "Arrested Development" and "Orange Is the New Black."

In 2013, the cronut won hearts and taste buds around the world. As the perfect hybrid of a croissant and a doughnut, the cronut spawned long lines around the New York bakery where it debuted, and soon knock-offs popped up across the globe.

One of the year's biggest addictions was playing the game Candy Crush. Candy Crush became 2013's most popular game on Facebook, with 46 million average monthly users. People loved it so much that they didn't mind paying the extra fee to bypass difficult levels: the game nets almost $1,000,000 a day.media: 21239320

quicklist: 11category: 13 Unforgettable Things About 2013title: 11. Controversy in Washington Politics and Around the Worldtext: It was a year of significant highs and lows for politics in 2013. For President Obama, the disappointing rollout of the Affordable Care Act and its website followed him everywhere, and even became a joke on "Saturday Night Live."

The United States government was forced to shut down in October following Congress's failure to pass spending bills to fund the government.

While President Obama and the government may have had a rough year, some politicians found themselves in the spotlight, including Sen. Ted Cruz of Texas and Gov. Chris Christie of New Jersey. Former Newark, N.J., mayor Cory Booker also managed to snag a seat in the Senate.

But the most unlikely political star of 2013 was Dennis Rodman, who became one of the few Americans to meet North Korea's dictator Kim Jong Un.media: 21241318

quicklist: 12category: 13 Unforgettable Things About 2013title: 12. Heroes Who Bravely Rose to the Occasiontext: In 2013, there were plenty of heroes who rose above and renewed the world's faith in the human spirit. Some of this year's many heroes include Carlos Arredondo, who helped the victims of the Boston Marathon bombing, Darnell Barton, a bus driver who talked a woman out of jumping off a ledge and Antoinette Tuff, who talked a gunman into surrendering to police.

Michelle Knight bravely faced her kidnapper and ex-captor, Ariel Castro, in court, while 15-year-old Davion Only bravely stood before the world asking for any family to adopt him. ABC News' Amy Robach and Valerie Harper inspired many people with their courageous battles against cancer, and Malala Yousafzai continued her fight for the right to education.

This year, the entire city of San Francisco became a hero when it helped 5-year-old Miles Scott, who has battled leukemia since he was 18 months -old, become Batkid for the day.media: 21239180

quicklist: 13category: 13 Unforgettable Things About 2013title: 13. 2013's Stars You Loved to Watchtext: Several stars emerged in the year 2013, and the world couldn't get enough of them. Miley Cyrus had her hit "Wrecking Ball" on the top of Billboard music charts, and a Saturday Night Live hosting gig while Grumpy Cat went from being an online sensation to a newspaper and magazine cover cat.

The cast of "Duck Dynasty" made its way into America's hearts with its family dynamics and famous long beards, and another show, "Scandal," made its star, Kerry Washington, 2013's top cover girl.


September 19, 2013 Day 243 of the Fifth Year - History

The economic downturn caused by the coronavirus pandemic has renewed attention on health insurance coverage as millions have lost their jobs and potentially their health coverage. The Affordable Care Act (ACA) sought to address the gaps in our health care system that leave millions of people without health insurance by extending Medicaid coverage to many low-income individuals and providing subsidies for Marketplace coverage for individuals below 400% of poverty. Following the ACA, the number of uninsured nonelderly Americans declined by 20 million, dropping to an historic low in 2016. However, beginning in 2017, the number of uninsured nonelderly Americans increased for three straight years, growing by 2.2 million from 26.7 million in 2016 to 28.9 million in 2019, and the uninsured rate increased from 10.0% in 2016 to 10.9% in 2019.

The future of the ACA is once again before the Supreme Court in California vs. Texas, a case supported by the Trump administration that seeks to overturn the ACA in its entirety. A decision by the Court to invalidate the ACA would eliminate the coverage pathways created by the ACA, leading to significant coverage losses.

Although the number of uninsured has likely increased further in 2020, the data from 2019 provide an important baseline for understanding changes in health coverage leading up to the pandemic. This issue brief describes trends in health coverage prior to the pandemic, examines the characteristics of the uninsured population in 2019, and summarizes the access and financial implications of not having coverage.

How many people are uninsured?

After several years of coverage gains following the implementation of the ACA, the uninsured rate increased from 2017 to 2019 amid efforts to alter the availability and affordability of coverage. Coverage losses in 2019 were driven by declines in Medicaid and non-group coverage and were larger among nonelderly Hispanic and Native Hawaiians and Other Pacific Islander people. The number of uninsured children also grew significantly.

In spite of the recent increases, the number of uninsured individuals remains well below levels prior to enactment of the ACA. The number of uninsured nonelderly individuals dropped from more than 46.5 million in 2010 to fewer than 26.7 million in 2016 before climbing to 28.9 million individuals in 2019. We focus on coverage among nonelderly people since Medicare offers near universal coverage for the elderly, with just 407,000, or less than 1%, of people over age 65 uninsured.

Key Details:

  • The uninsured rate increased in 2019, continuing a steady upward climb that began in 2017. The uninsured rate in 2019 ticked up to 10.9% from 10.4% in 2018 and 10.0% in 2016, and the number of people who were uninsured in 2019 grew by more than one million from 2018 and by 2.2 million from 2016 (Figure 1). Despite these increases, the uninsured rate in 2019 remained significantly below pre-ACA levels.

Figure 1: Number of Uninsured and Uninsured Rate among the Nonelderly Population, 2008-2019

  • Following enactment of the ACA in 2010, when coverage for young adults below age 26 and early Medicaid expansion went into effect, the number of uninsured people and the uninsured rate began to drop. When the major ACA coverage provisions went into effect in 2014, the number of uninsured and uninsured rate dropped dramatically and continued to fall through 2016 when just under 27 million people (10.0% of the nonelderly population) lacked coverage (Figure 1).
  • In 2019, increases in employer-sponsored insurance were offset by declines in Medicaid and non-group coverage resulting in an increase in the number of nonelderly people without insurance. While the number of people covered with employer-sponsored insurance increased by 929,000, or 0.5 percentage points, from 2018 to 2019, the number of nonelderly Medicaid enrollees declined by more than twice that number or 1.9 million people (0.7 percentage points). The drop in Medicaid coverage was larger for children (0.9 percentage points) compared to nonelderly adults (0.5 percentage points). In addition, the number of nonelderly people covered in the non-group market also dropped, by 879,000 from 2018 to 2019 (Figure 2).

Figure 2: Change in Insurance Coverage Rates among the Nonelderly Population, 2018-2019

  • Hispanic people and Native Hawaiians and Other Pacific Islander people experienced the largest increases in the uninsured in 2019. The uninsured rate grew one percentage point, from 19.0% in 2018 to 20.0% in 2019 for Hispanic people and 3.4 percentage points, from 9.3% in 2018 to 12.7% in 2019 for Native Hawaiians and Pacific Islander people (Figure 3). While uninsured rates also increased for White and Asian people, the uninsured rates for Black and American Indian/Alaska Native people saw no significant change.

Figure 3: Change in Uninsured Rate among the Nonelderly Population by Selected Characteristics, 2018-2019

  • Hispanic people accounted for over half (57%) of the increase in nonelderly uninsured individuals in 2019, representing over 612,000 individuals. Among these uninsured nonelderly Hispanic individuals, more than a third (35%) were children.
  • The number of uninsured children grew by over 327,000 from 2018 to 2019 and the uninsured rate for children ticked up nearly 0.5 percentage points from just under 5.1% in 2018 to 5.6% in 2019 (Figure 3). While the uninsured rate increased for children of all races and ethnicities, the increase was largest for Hispanic children, growing from 8.1% in 2018 to 9.2% in 2019.
  • Changes in the number of uninsured individuals varied across states in 2019. A total of 13 states experienced increases in the number of nonelderly uninsured individuals, including nine Medicaid expansion states and four non-expansion states. However, the uninsured rate for the group of expansion states was nearly half that of non-expansion states (8.3% vs. 15.5%). Two states, California and Texas, accounted for 45% of the increase in the number of uninsured individuals from 2018 to 2019. Virginia was the only state to experience a statistically significant decrease in the number of uninsured in 2019 the state expanded its Medicaid program that year (Appendix Table A).

Who are the uninsured?

Most people who are uninsured are nonelderly adults and in working families. Families with low incomes are more likely to be uninsured. In general, people of color are more likely to be uninsured than White people. Reflecting geographic variation in income and the availability of public coverage, people who live in the South or West are more likely to be uninsured. Most who are uninsured have been without coverage for long periods of time. (See Appendix Table B for detailed data on characteristics of the uninsured population.)

Key Details:
  • In 2019, over seven in ten of the uninsured (73.2%) had at least one full-time worker in their family and an additional 11.5% had a part-time worker in their family (Figure 4).

Figure 4: Characteristics of the Nonelderly Uninsured, 2019

  • Individuals with income below 200% of the Federal Poverty Level (FPL) 1 are at the highest risk of being uninsured (Appendix Table B). In total, more than eight in ten (82.6%) of uninsured people were in families with incomes below 400% of poverty in 2019 (Figure 4).
  • Most (85.4%) of the uninsured are nonelderly adults. The uninsured rate among children was 5.6% in 2019, less than half the rate among nonelderly adults (12.9%), largely due to broader availability of Medicaid and CHIP coverage for children than for adults (Figure 5).

Figure 5: Uninsured Rates among the Nonelderly Population by Selected Characteristics, 2019

  • While a plurality (41.1%) of the uninsured are non-Hispanic White people, in general, people of color are at higher risk of being uninsured than White people. People of color make up 43.1% of the nonelderly U.S. population but account for over half of the total nonelderly uninsured population (Figure 4). Hispanic, Black, American Indian/Alaska Native, and Native Hawaiians and Other Pacific Islander people all have significantly higher uninsured rates than White people (7.8%) (Figure 5). However, like in previous years, Asian people have the lowest uninsured rate at 7.2%.
  • Most of the uninsured (77.0%) are U.S. citizens and 23.0% are non-citizens. However, non-citizens are more likely than citizens to be uninsured. The uninsured rate for recent immigrants, those who have been in the U.S. for less than five years, was 29.6% in 2019, while the uninsured rate for immigrants who have lived in the US for more than five years was 36.3% (Appendix Table B).
  • Uninsured rates vary by state and by region individuals living in non-expansion states are more likely to be uninsured (Figure 5). Fifteen of the twenty states with the highest uninsured rates in 2019 were non-expansion states as of that year (Figure 6 and Appendix Table A). Economic conditions, availability of employer-sponsored coverage, and demographics are other factors contributing to variation in uninsured rates across states.
  • Nearly seven in ten (69.5%) of the nonelderly adults uninsured in 2019 have been without coverage for more than a year. 2 People who have been without coverage for long periods may be particularly hard to reach in outreach and enrollment efforts.

Why are people uninsured?

Most of the nonelderly in the U.S. obtain health insurance through an employer, but not all workers are offered employer-sponsored coverage or, if offered, can afford their share of the premiums. Medicaid covers many low-income individuals however, Medicaid eligibility for adults remains limited in some states. Additionally, renewal and other policies that make it harder for people to maintain Medicaid likely contributed to Medicaid enrollment declines. While financial assistance for Marketplace coverage is available for many moderate-income people, few people can afford to purchase private coverage without financial assistance. Some people who are eligible for coverage under the ACA may not know they can get help and others may still find the cost of coverage prohibitive.

Key Details:
  • Cost still poses a major barrier to coverage for the uninsured. In 2019, 73.7% of uninsured nonelderly adults said they were uninsured because coverage is not affordable, making it the most common reason cited for being uninsured (Figure 7).

Figure 7: Reasons for Being Uninsured among Uninsured Nonelderly Adults, 2019

  • Access to health coverage changes as a person’s situation changes. In 2019, a quarter of uninsured nonelderly adults said they were uninsured because they were not eligible for coverage, while 21.3% of uninsured nonelderly adults said they were uninsured because they did not need or want coverage (Figure 7). Nearly one in five were uninsured because they found signing up was too difficult or confusing or they could not find a plan to meet their needs (18.4% and 18.0%, respectively). 3 Although only 2.8% of uninsured nonelderly adults reported being uninsured due to losing their job in 2019, it is likely the number of people who have lost their job and job-based coverage increased in 2020 due to the coronavirus pandemic.
  • As indicated above, not all workers have access to coverage through their job. In 2019, 72.5% of nonelderly uninsured workers worked for an employer that did not offer them health benefits. 4 Among uninsured workers who are offered coverage by their employers, cost is often a barrier to taking up the offer. From 2010 to 2020, total premiums for family coverage increased by 55%, and the worker’s share increased by 40%, outpacing wage growth. 5 Low-income families with employer-based coverage spend a significantly higher share of their income toward premiums and out-of-pocket medical expenses compared to those with income above 200% FPL. 6
  • Medicaid eligibility for adults varies across states and is sometimes limited. As of October 2020, 39 states including DC adopted the Medicaid expansion for adults under the ACA, although 34 states had implemented the expansion in 2019. In states that have not expanded Medicaid, eligibility for adults remains limited, with median eligibility level for parents at just 41% of poverty and adults without dependent children ineligible in most cases. Additionally, state renewal policies and periodic data matches can make it difficult for people to maintain Medicaid coverage. Millions of poor uninsured adults fall into a “coverage gap” because they earn too much to qualify for Medicaid but not enough to qualify for Marketplace premium tax credits.
  • While lawfully-present immigrants under 400% of poverty are eligible for Marketplace tax credits, only those who have passed a five-year waiting period after receiving qualified immigration status can qualify for Medicaid. Changes to public charge policy that allow federal officials to consider use of Medicaid for non-pregnant adults when determining whether to provide certain individuals a green card are likely contributing to coverage declines among lawfully present immigrants. Undocumented immigrants are ineligible for Medicaid or Marketplace coverage. 7
  • Though financial assistance is available to many of the remaining uninsured under the ACA, not everyone who is uninsured is eligible for free or subsidized coverage. Nearly six in ten of the uninsured prior to the pandemic were eligible for financial assistance either through Medicaid or through subsidized marketplace coverage. However, over four in ten uninsured were outside the reach of the ACA because their state did not expand Medicaid, their income was too high to qualify for marketplace subsidies, or their immigration status made them ineligible. Some uninsured who are eligible for help may not be aware of coverage options or may face barriers to enrollment, and even with subsidies, marketplace coverage may be unaffordable for some uninsured individuals. While outreach and enrollment assistance helps to facilitate both initial and ongoing enrollment in ACA coverage, these efforts face ongoing challenges due to funding cuts and high demand.

How does not having coverage affect health care access?

Health insurance makes a difference in whether and when people get necessary medical care, where they get their care, and ultimately, how healthy they are. Uninsured adults are far more likely than those with insurance to postpone health care or forgo it altogether. The consequences can be severe, particularly when preventable conditions or chronic diseases go undetected.

Key Details:
  • Studies repeatedly demonstrate that the uninsured are less likely than those with insurance to receive preventive care and services for major health conditions and chronic diseases. 8 , 9 , 10 , 11 More than two in five (41.5%) nonelderly uninsured adults reported not seeing a doctor or health care professional in the past 12 months. Three in ten (30.2%) nonelderly adults without coverage said that they went without needed care in the past year because of cost compared to 5.3% of adults with private coverage and 9.5% of adults with public coverage. Part of the reason for poor access among the uninsured is that many (40.8%) do not have a regular place to go when they are sick or need medical advice (Figure 8).

Figure 8: Barriers to Health Care among Nonelderly Adults by Insurance Status, 2019

  • More than one in ten (10.2%) uninsured children went without needed care due to cost in 2019 compared to less than 1% of children with private insurance. Furthermore, one in five (20.0%) uninsured children had not seen a doctor in the past year compared to 3.5% for both children with public and private coverage (Figure 9).

Figure 9: Barriers to Health Care among Children by Insurance Status, 2019

  • Many uninsured people do not obtain the treatments their health care providers recommend for them because of the cost of care. In 2019, uninsured nonelderly adults were more than three times as likely as adults with private coverage to say that they delayed filling or did not get a needed prescription drug due to cost (19.8% vs. 6.0%). 12 And while insured and uninsured people who are injured or newly diagnosed with a chronic condition receive similar plans for follow-up care, people without health coverage are less likely than those with coverage to obtain all the recommended services. 13 , 14
  • Because people without health coverage are less likely than those with insurance to have regular outpatient care, they are more likely to be hospitalized for avoidable health problems and to experience declines in their overall health. When they are hospitalized, uninsured people receive fewer diagnostic and therapeutic services and also have higher mortality rates than those with insurance. 15 , 16 , 17 , 18 , 19
  • Research demonstrates that gaining health insurance improves access to health care considerably and diminishes the adverse effects of having been uninsured. A comprehensive review of research on the effects of the ACA Medicaid expansion finds that expansion led to positive effects on access to care, utilization of services, the affordability of care, and financial security among the low-income population. Medicaid expansion is associated with increased early-stage diagnosis rates for cancer, lower rates of cardiovascular mortality, and increased odds of tobacco cessation. 20 , 21 , 22
  • Public hospitals, community clinics and health centers, and local providers that serve underserved communities provide a crucial health care safety net for uninsured people. However, safety net providers have limited resources and service capacity, and not all uninsured people have geographic access to a safety net provider. 23 , 24 , 25 High uninsured rates also contribute to rural hospital closures, leaving individuals living in rural areas at an even greater disadvantage to accessing care.

What are the financial implications of being uninsured?

The uninsured often face unaffordable medical bills when they do seek care. These bills can quickly translate into medical debt since most of the uninsured have low or moderate incomes and have little, if any, savings. 26 , 27

Key Details:
  • Those without insurance for an entire calendar year pay for nearly half of their care out-of-pocket. 28 In addition, hospitals frequently charge uninsured patients much higher rates than those paid by private health insurers and public programs. 29 , 30 , 31
  • Uninsured nonelderly adults are much more likely than their insured counterparts to lack confidence in their ability to afford usual medical costs and major medical expenses or emergencies. More than three quarters (75.6%) of uninsured nonelderly adults say they are very or somewhat worried about paying medical bills if they get sick or have an accident, compared to 47.6% of adults with Medicaid/other public insurance and 46.1% of privately insured adults (Figure 10).
  • Medical bills can put great strain on the uninsured and threaten their financial well-being. In 2019, nonelderly uninsured adults were nearly twice as likely as those with private insurance to have problems paying medical bills (24.1% vs. 11.6% Figure 10). 32 Uninsured adults are also more likely to face negative consequences due to medical bills, such as using up savings, having difficulty paying for necessities, borrowing money, or having medical bills sent to collections resulting in medical debt. 33

Figure 10: Problems Paying Medical Bills by Insurance Status, 2019

  • Though the uninsured are typically billed for medical services they use, when they cannot pay these bills, the costs may become bad debt or uncompensated care for providers. State, federal, and private funds defray some but not all of these costs. With the expansion of coverage under the ACA, providers are seeing reductions in uncompensated care costs, particularly in states that expanded Medicaid.
  • Research suggests that gaining health coverage improves the affordability of care and financial security among the low-income population. Multiple studies of the ACA have found larger declines in trouble paying medical bills in expansion states relative to non-expansion states. A separate study found that, among those residing in areas with high shares of low-income, uninsured individuals, Medicaid expansion significantly reduced the number of unpaid bills and the amount of debt sent to third-party collection agencies.

Conclusion

The number of people without health insurance grew for the third year in a row in 2019. Recent increases in the number of uninsured nonelderly individuals occurred amid a growing economy and before the economic upheaval from the coronavirus pandemic that has led to millions of people losing their jobs. In the wake of these record job losses, many people who have lost income or their job-based coverage may qualify for expanded Medicaid and subsidized marketplace coverage established by the ACA. In fact, recent data indicate enrollment in both Medicaid and the Marketplaces has increased since the beginning of the pandemic. However, it is expected the number of people who are uninsured has increased further in 2020.

Drops in coverage among Hispanic people drove much of the increase in the overall uninsured rate in 2019. Changes to the Federal public charge policy may be contributing to declines in Medicaid coverage among Hispanic adults and children, leading to the growing number without health coverage. These coverage losses also come as COVID-19 has hit communities of color disproportionately hard, leading to higher shares of cases, deaths, and hospitalizations among people of color. The lack of health coverage presents barriers to accessing needed care and may lead to worse health outcomes for those affected by the virus.

Even as the ACA coverage options provide an important safety net to people losing jobs during the pandemic, a Supreme Court ruling in California vs. Texas could have major effects on the entire health care system. If the court invalidates the ACA, the coverage expansions that were central to the law would be eliminated and would result in millions of people losing health coverage. Such a large increase in the number of uninsured individuals would reverse the gains in access, utilization, and affordability of care and in addressing disparities achieved since the law was implemented. These coverage losses coming in the middle of a public health pandemic could further jeopardize the health of those infected with COVID-19 and exacerbate disparities for vulnerable people of color.


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