Problem 5-40 (LO. 2) Belinda spent the last 60 days of 2018 in a nursing home. The cost of the services provided to her was $18,000 ($300 per day). Medicare paid $8,500 toward the cost of her stay. Belinda also received $5,500 of benefits under a long-term care insurance policy she purchased. Assume a per diem rate of $360. If the amount is zero, enter 0. Determine the amount of her exclusion. 143,000 X Determine the amount included in her gross income.

Problem 5-40 (LO. 2) Belinda spent the last 60 days of 2018 in a nursing home. The cost of the services provided to her was $18,000 ($300 per day). Medicare paid $8,500 toward the cost of her stay. Belinda also received $5,500 of benefits under a long-term care insurance policy she purchased. Assume a per diem rate of $360. If the amount is zero, enter 0. Determine the amount of her exclusion. 143,000 X Determine the amount included in her gross income.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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