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Federal revenues may be accounted for and reported in an unusual manner. A federal environmental agency engaged in the following transactions during a particular year. 1. It billed corporations for which it provided services $160 million. Of this, it collected $140 million. 2. It levied $150 million in ?nes and penalties against corporations. Of this, $90 million was collected in cash. Of the balance, the protest period has expired on $35 million, which the agency expects to collect in the following year. The remaining $25 million is in dispute and court dates have not yet been set. 3. It collected an additional $20 million in ?nes and penalties that had been assessed by federal courts in the previous period. 4. It received cash donations of $3 million and pledges of an additional $2 million. The agency's counsel advises that the pledges are not legally enforceable. a. Prepare journal entries to record the revenues and collections. b. Show how the revenues and related receivables would be reported on the agency's balance sheet and statement of net cost (i.e., an operating statement).
Calculate the dividends per share on each class of stock for each of the four years. Round all answers to nearest whole cent. If no dividends are paid in a given year, enter 0.
a lawyer collected 710 of legal fees in advance. he erroneously debited cash for 170 and credited accounts receivable
two divisions of a kringly corporation are involved in a dispute. division a purchases part 101 and division b
background informationeileen timmons was a registered nurse living in salmon river newfoundland. a single parent with
describe in detail an incident from your own work experience or that of an acquaintances work experience where an
retro company is authorized to issue 10000 shares of 8 100 par value preferred stock and 500000 shares of no-par common
Now compute the present value of the income stream from the gold mine at a discount rate of 5%, and at a discount rate of 3%
vantage company issued bonds with a 500000 face value and a 6 stated rate of interest on january 1 2013. the bonds
Funtime Inc. makes small toys in a one department production process. Plastic is added at the beginning of the process, all other materials are considered indirect. The following information is available relative to September 2010 production.
if an asset costs 70000 and is expected to have a 10000 salvage value at the end of its 10-year life and generates
Comparing stocks versus bonds:
the customer service department of grand lakes technologies asked the publications department to prepare a brochure
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