MED 199: Medical Administrative Assisting

Module 7 Homework Assignment

PART I: SHORT RESPONSE

Directions:Please answer the questions below.

Chapter 23:

1.   List three reasons why an individual might stop payment on a check.

2.   Explain the ABA number and what each part of the number means.

3.   Define EFTs.

4.   Define ACH.

For #5-6: Using your Study Guide, on pages 179-183, practice writing checks to pay the following bills.  The beginning balance in the checkbook is $4,562.79.  Use the checks numbered 5648 to 5651.  For this assignment, determine the balance after the check is written.  For this assignment, you will only need to answer the questions below.

5.   For practice, write check #5648 to the American Medical Association for $356 for new coding books.  What is the balance?

6.   For practice, write check #5649 to the Blackburn Utility Company for $46.90 to pay the water bill.  What is the balance?

For #7-8: Using your Study Guide, on pages 179-183, practice writing checks for the following refunds.  Use the ending balance from Part II, no. 5, to determine the final balance in the checking account.  Use the checks numbered 5652 to 5655.  For this assignment, you will only need to answer the questions below.

7.   Ms. Patty Bailey should receive a refund in the amount of $34.55 for an overpayment.  Use check #5652.

8.   Write a check for Julie Smithy for $224.12.  Her insurance company paid more than expected, so she is entitled to a refund.  Use check #5653.

For #9-10: Using your Study Guide, on pages 179-183, practice preparing bank deposits using the information below.  You may record your answers on the figure in Work Product 23-1.  For this assignment, you will only need to answer the questions below.

9.   Cash includes six (6) $20 bills; one (1) $100 bill; one (1) $50 bill; two (2) $10 bills; one (1) $5 bill; and one (1) $1 bill.  What is the total cash?

10.Check payments were #2387 for $67 from Sue Patrick and #460 for $50 from Ronald Rodriguez.  What is the total of personal checks?

For #11-13: Using your Study Guide, on pages 179-183, practice reconciling a bank statement using the facts and figures below.  You may use the worksheet on page 183 for your work.  For this assignment, you will only need to answer the questions below.

Note: The checkbook balance is $4,616.96.  The statement balance is $6,792.79 (this amount includes the deposit of $2,137.32; do not add that amount in again).

11.Three checks are outstanding: check #5648 for $356; check #5649 for $46.90; and check #5650 for $1,770.  What is the total for outstanding checks?

12  Does the checkbook reconcile with the statement?

13.What is the ending balance?

Chapter 24:

1.   Which four things should the financial records of any business show at all times?

2.   Differentiate between accounting and bookkeeping.

3.   List three of the 10 cardinal rules of bookkeeping.  Which do you think will give you the most trouble?  Which ones will be easiest for you?

4.   List two disadvantages of a single-entry system.

5.   What is Form 940 used for and when must it be filed?

6.   List seven expense categories often found in a physician’s office budget.

7.   Briefly explain the three types of bookkeeping systems.  Describe the single entry system, the double entry system, and the pegboard system (write it once system. Which of the three systems do you think would be the easiest to work with in the medical office?  Why?

Chapter 25:

1.   Why is it a good idea to have one person in charge of office operations?

2.   Why is customer service such an important aspect of today’s medicalFiona’s Case: An Ethical Dilemma for a Program Evaluator,Political Science,,

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