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Question: The governor and his college-age daughter are talking after dinner. The governor has had a rough day at the office discussing the state's budget problems. The daughter is home on vacation after having completed a course in municipal accounting. She has just told her dad about the substance of this chapter in this text. "That's great," says the governor, "you just solved my problem. I'll tell my budget director to prepare the budget using those wonderful GAAP rules you just described. We'll save money by firing our actuary because his ideas about financing pension and retiree benefits cost too much.
We'll save more money by budgeting zero dollars for pensions because the pension plan has enough resources to pay benefits to retirees for several years. And we'll save even more by budgeting just enough for retiree health care benefits to pay the bills of our retirees, rather than putting money into a fund to pay for those currently working." The governor's daughter looks at him and says: "Hold on a sec, Dad, you're getting me a bit worried." What did his daughter say about "those wonderful GAAP rules" that caused the governor to reach his conclusion? Why is his daughter worried?
The ledger of Avril Company includes the following accounts with normal balances: L. Avril, Capital $6,000; L. Avril, Withdrawals $400.
Write a 1,400- to 1,750-word paper that includes your analysis of the business-to-business messages using the communication process.
The following were selected from among the transactions completed by Calworks Company during April of the current year:
What amount of the contribution is deductible?
bruno company accumulates the following data converning a mixed cost using miles as the activity
For each company, prepare the necessary journal entry to record the exchange. (The exchange has commercial substance.)
topeka bike company received a 940 check from a customer for the balance due. the transaction was erroneously recorded
barstow corporation buys three chemical that are processed to produce two popular ingredients for liquid cough syrups.
Selected financial information for ADAM Corporation is reproduced below: 1. NOA turnover (average NOA equals ending NOA) is 3.
The incredible growth of Amazon.com has put fear into the hearts of traditional retailers. Calculate free cash flow for Amazon for the current and prior years
Megan made two announcements concerning its common stock today. First, the company announced that its next annual dividend has been set at $2.16 a share.
black diamond inc. issues 2500 shares o 1 par value common stock and 1000 shares of 50 par value preferred stock for a
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