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Beginning and Ending Fund Balances. The following information is provided about the Village of Wymette’s General Fund operating statement and budgetary accounts for fiscal year ended June 30, 2010. Estimated revenues - $3,150,000 Revenues – 3,190,000 Appropriations – 3,185,000 Expenditures – 3,175,000 Fund balance (beginning of year) – 580,000 Budgetary fund balance (after FY 2010 Budget was recorded) – (35,000)
Required:
a) Did the Village of Wymette engage in imprudent budgeting practice by authorizing a greater amount of expenditures than revenues estimated for the year, or potentially violate village or state balanced-budget laws?
b) Calculate the end-of-year balanced for the Fund Balance and Budgetary Fund Balance accounts that would be reported on the Village’s balance sheet prepared as of June 30, 2010. Show all necessary work.
The service period related to these restricted shares is 3 years. Vesting occurs if the upper level executives stay with Lebron Corp for 3 years.
Olmsted Company has the following items: common stock, $900,000; treasury stock, $105,000; deferred taxes, $125,000 and retained earnings, $454,000. Illustrate what total amount should Olmsted Company report as stockholders' equity?
Evaluate the missing amount from each of the separate situations and What are the beginning and ending amounts of equity?
Evaluate the economic order quantity for the spice in terms of 10 pound bags and If the company works 250 days per year, on average how many bags of spice are used per working day?
At December 31, 2004, the balance in the investment account should be $810,000. Illustrate what formula/steps do I take to get $810,000?
Additional monthly advertising cost would be $ 180,000. How much pre-tax income would the discounted fare provide Springfield Express if the company has 50 passenger train cars per day, 30 days per month?
Southland Industries - Compare Earnings per share (EPS) for the given levels of EBIT
Davis Hardware Company uses a periodic inventory system. How should Davis record the sale of inventory costing $620 for $960 on account?
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A firm is selling an existing asset for $5000. The asset when purchased cost $10,000, was depreciated under MACRS using a five-year recovery period and has been depreciated for four full years.
Purpose a comparative income statement, with vertical analysis, stating each item for both 2006 and 2005 as a percent of sales. Comment upon significant changes disclosed by the comparative income statement.
illustrate how this new system would work. In this example the allocated base its machine-hours. if the company bases its predetermined overhead rate on capacity, by how much was manufacturing overhead under applied or over applied?
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