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Life Support, a not for profit nursing home, had the following transactions in 2013. For each transaction, state whether an asset increased or decreased, a liability increased or decreased, or equity (revenues or expenses) increased or decreased. (Each transaction has two answers.)1. Borrowed $ 100,000 in cash from a bank.2. Bought equipment on credit.3. Sent bills to Medicaid for care of residents.4. Paid rent on January 1 for the 3 month period January March.5. Recorded depreciation on equipment it owned.6. Paid salaries to its employees.7. Made a year end accrual for interest owed the bank on money it had borrowed.
The beginning work-in-process inventory was $6,000; the ending work-in-process inventory was $5,000. Assume that 1,000 units were produced during the month.
At its most basic level, the function of financial intermediaries is to ________.
Calculate Basic and Dilutive Earnings per Share
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