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A city General Fund received cash from the following sources during fiscal year 2012. All the receipts were credited to revenue accounts. Identify the incorrect credits (some may be correct) and make journal entries to correct them.1. The General Fund received $10,000 from the Debt Service Fund when the Debt Service Fund was closed out after a bond issue was fully paid.2. The General Fund received $15,000 from the Parks Special Revenue Fund for that fund, share of the cost of an electric bill previously paid by the General Fund. The receipt was in response to a billing from the General Fund to the Parks Special Revenue Fund.3. After meeting all eligibility requirements, the General Fund received $20,000 from the state as a grant that could be used at any time.4. The General Fund received $25,000 from the state as an advance on a grant. The state required the city to use the grant for expenditures to be incurred during 2013.5. The General Fund received $30,000 from the collection of parking meter fees.
new wave co. sold 14000 annual subscriptions of game life for 51 during december 2012. these new subscribers will
1. a supervisors salary is an example ofa.direct labor.b.variable factory overhead.c.a standard cost.d.fixed
Compare and contrast the five types of analytical procedures. Determine for which situations each is best suited. Defend your answer.
Listed below are 12 internal control procedures or requirements for the expenditure cycle (purchasing, payroll, accounts payable, and cash disbursements) of a manufacturing enterprise. For each of the following, identify the error or misstatem..
Determine the contribution margin in dollars, per unit and as a ratio. Using the contribution margin technique, compute the break-even point dollars and in units. Compute the margin of safety in dollars and as a ratio.
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You have been elected president of your university's newly chartered accounting honor society. The society is a chapter of a national organization that has the following mission: "To promote the profession of accountancy as a career and to imbue m..
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What are examples of irregular items? How does a change in accounting principles affect the financial statements? Who in the organization is responsible for the application of a change in an accounting principle? Why?
the beta of elsenore inc. stock is 1.6 whereas the risk-free rate of return is 8 percent. if the expected return on
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