Did this affiliation violate antitrust law? Explain.
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St. Luke’s Health Systems, Ltd., operated an emergency clinic in Nampa, Idaho. Saltzer Medical Group, P.A., had thirty-four physicians practicing at its offices in Nampa. Saint Alphonsus Health System, Inc., operated the only hospital in Nampa. St. Luke’s acquired Saltzer’s assets and entered into a five-year professional service agreement with the Saltzer physicians. This affiliation resulted in a combined share of two-thirds of the Nampa adult primary care provider market. Together, the two entities could impose a significant increase in the prices charged patients and insurers, and correspondence between the parties indicated that they would. Saint Alphonsus filed a suit against St. Luke’s to block the merger.
- Did this affiliation violate antitrust law? Explain.
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- Please answer the letter a, b, and c of #2. Provide solution/explanation.Plump Corporation holds 60 percent ownership of Slim Company. Each year, Slim purchases large quantities of a gnarl root used in producing health drinks. Slim purchased $150,000 of roots in 20X7 and sold $40,000 of these purchases to Plump for $60,000. By the end of 20X7, Plump had resold all but $15,000 of its purchase from Slim. Plump generated $90,000 on the sale of roots to various health stores during the year. Required: a. Prepare the journal entries recorded by Plump and Slim during 20X7 relating to the initial purchase, intercorporate sale, and resale of gnarl roots. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entries recorded by Slim Company: Answer is complete and correct. No Event General Journal Debit Credit A Inventory 150,000 Cash (Accounts payable) 150,000 B 2 Cash (Accounts receivable) Sales 60,000 60,000 C 3 Cost of goods-sold Inventory Journal entries recorded by Plump Corporation:…U-Pick Fruit Corp., a C Corporation, was formed many years ago as a "you pick" farm where customers can pick various types of fruits fresh from the source. Strawberry owned 500 out of 1,000 shares of common stock of U-Pick Fruit Corp. Her basis in the stock was $12,500,000. U-Pick Fruit Corp. liquidated, and in the process, after the corporation paid all of its debts, it distributed to Strawberry the following assets: • $25 million in cash, and • Berryacre, a parcel of real estate previously used in its trade or business (U-Pick Fruit's adjusted basis in Berryacre was $37,500,000 and the fair market value at date of distribution was $125,000,000). How much gain (loss) does Strawberry recognize due to these transactions? $87,500,000 $137,500,000 $112,500,000 $100,000,000
- Please list all of the journal entries for 2022 the OHIO Contract. Your company name is PP. See below information: Ohio Contract On September 7th of the current year (2022), PP signed a contract with Ohio Contract, a large city in the northeast. PP will provide Ohio with 2,470 scooters for $855 each. Each of the scooters is included in a service agreement, whereby PP will provide all maintenance on the scooters for 3 years. In addition, it will provide labor at no charge for these repairs. At the time of the repair, PP will bill Ohio for the parts needed to accomplish the repair. Ohio paid WTG on September 7th of the current year. PP will deliver 665 scooters on October 1 of the current year, 875 scooters on January 1 of next year, and 930 scooters on April 1 of the next year. Because of the size of Ohio, and its potential to buy many more scooters, PP offers them a volume discount, based on how many scooters they purchase between September 7th of the current year and December 31st of…Several years ago, Penston Company purchased 90 percent of the outstanding shares of Swansan Corporation. Penston made the acquisition because Swansan produced a vital component used in Penston’s manufacturing process. Penston wanted to ensure an adequate supply of this item at a reasonable price. The former owner, James Swansan, retained the remaining 10 percent of Swansan’s stock and agreed to continue managing thisorganization. He was given responsibility for the subsidiary’s daily manufacturing operations but not for any financial decisions.Swansan’s takeover has proven to be a successful undertaking for Penston. The subsidiary has managed to supply all of the parent’s inventory needs and distribute a variety of items to outside customers.At a recent meeting, Penston’s president and the company’s chief financial officer began discussing Swansan’s debt position. The subsidiary had a debt-to-equity ratio that seemed unreasonably high considering the significant amount of cash flows…Gravity Services Ltd (GS) is a company set up in Hong Kong providing the region with cloud computingservices like servers, storage, networking and software, to help customers to meet their business challenges. During the year ended 30 September 2020, it enters into two contracts.(i) Data Tab Ltd (DT) enters into a contract with GS for the use of an identified server for three years.GS delivers and installs the server at DT’s premises in accordance with DT’s instructions, and provides repair and maintenance services for the server, as needed, throughout the period of use. GSsubstitutes the server only in the case of malfunction. DT can decide which data to be stored and howto integrate the server to its operation. DT can change its decisions on how to operate the serversthroughout the period of use (a) advise GS whether the contract (i) falls within HKFRS 16 as a lease.
- A telecommunications operator (BarleyCo) enters into an indefeasible rights of use (IRU) contract with TomCo (the incumbent telecommunications operator) for a dark fibre route between two cities. The agreement is for a term of 20 years, which is the expected service life of the cable. The arrangement specifies exclusive use of a distinct fibre within the TomCo fibre cable, and BarleyCo is responsible for the installation of transmission equipment in TomCo’s buildings in order to light the fibre. TomCo has the right to swap BarleyCo over to an alternative fibre, but only for reasons of repair, maintenance or malfunction, in which case it must compensate BarleyCo for financial loss. In addition to a single up-front payment, the contract provides for TomCo to charge BarleyCo for a share of maintenance costs and for space, power and cooling within the TomCo buildings. BarleyCo is responsible for the installation and maintenance of its transmission equipment and is free to upgrade that…Required information [The following information applies to the questions displayed below.] The TimpRiders LP has operated a motorcycle dealership for a number of years. Amir is the limited partner, Francesca is the general partner, and they share capital and profits equally. Francesca works full time managing the partnership. Both the partnership and the partners report on a calendar-year basis. At the start of the current year, Amir and Francesca had bases of $11,900 and $4,100, respectively, and the partnership did not have any liabilities. During the current year, the partnership reported the following results from operations: Net sales Cost of goods sold Operating expenses Short-term capital loss Tax-exempt interest §1231 gain $ 684,000 511,000 186,000 2,800 3,100 7,100 On the last day of the year, the partnership distributed $4,100 each to Amir and Francesca. Required: a. What outside basis do Amir and Francesca have in their partnership interests at the end of the year? b. How…U-Pick Fruit Corp., a C Corporation, was formed many years ago as a "you pick" farm where customers can pick various types of fruits fresh from the source. Strawberry owned 500 out of 1,000 shares of common stock of U-Pick Fruit Corp. Her basis in the stock was $5,500,000. U-Pick Fruit Corp. liquidated, and in the process, after the corporation paid all of its debts, it distributed to Strawberry the following assets: • $11 million in cash, and • Berryacre, a parcel of real estate previously used in its trade or business (U-Pick Fruit's adjusted basis in Berryacre was $16,500,000 and the fair market value at date of distribution was $55,000,000). How much gain (loss) does Strawberry recognize due to these transactions? $38,500,000 O $44,000,000 $60,500,000 O $49,500,000