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Question 1
City A issues $10 million of 30-year bonds and uses the proceeds to build a system of bike paths and mini-parks. What is the impact of this event on the Statement of Net Position (aka Statement of Net Assets) for the City's Governmental Activities and on the Balance Sheet for its Governmental Funds? (Don't worry about which Governmental Fund for now. Just think of the Governmental Funds as a group. And don't worry about the journal entries. Just focus on the impact of this event on the financial statements.)
Question 2
City B issues $10 million of 30-year bonds and gives the proceeds to a school district (a legally and fiscally separate entity with its own financial statements) to build a $10 million school. The school district does not have to pay the city back. What is the impact of this event on the Statement of Net Position (aka Statement of Net Assets) for the City's Governmental Activities and on the Balance Sheet for its Governmental Funds? (Again, don't worry about which Governmental Fund for now. Just think of the Governmental Funds as a group. And don't worry about the journal entries. Just focus on the impact of this event on the financial statements.)
Question 3.
City C issues $10 million of 30-year bonds and deposits the proceeds in its pension trust fund where it will be invested and used to provide retirement benefits for its employees. What is the impact of this event on the Statement of Net Position (aka Statement of Net Assets) for its Governmental Activities and on the Balance Sheet for its Governmental Funds? (Once again, don't worry about which Governmental Fund for now. Just think of the Governmental Funds as a group. And don't worry about the journal entries. Just focus on the impact of this event on the financial statements.)
The note receivable dishonored in Eye Opener 14 is paid on July 30 by the maker, plus interest for 30 days, 10%. What entry should be made to record the receipt of the payment?
1. Prepare the journal entries to correct the errors (ignore income taxes). 2. Prepare the journal entries to record 2009 depreciation for any assets record in requirement.
on 1-1-2008 holmes co. borrowed cash from first city bank by issuing an 80000 face value 3-year term note that had a 7
1. the break-even point is whenathe company is earning a small profit. btotal sales equal variable costs. ctotal sales
Why is it necessary to prepare the formal Financial Statements if all the data are on the Adjusted Trial Balance?
the following is a list of activities that occur for a company that sells many different types of products. please
Statistical sampling techniques and methodologies are used in many facets of its mission by the U.S. Census Bureau (USCB) and is among the most famous users of sampling methodologies.
Show all workings for the calculation of the final distribution of a deficiency or surplus to the shareholders.
In reviewing activity for July controller of Mathis, Inc., collected the following data concerning direct materials. Compute the direct materials cost variances
Your company will generate $55,000 in revenue each year for the next eight years from a new information database. The computer system needed to set up the database costs $250,000.
Gil makes out a $900 negotiable promissory note payable to Ben. By special indorsement, Ben transfers the note for value to Jess. By blank indorsement, Jess transfers the note for value to Pam.
gulf coast furniture company makes a variety of wood furniture for the office and home. the company uses a standard
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