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The Charleston city council approved and adopted its budget for fiscal year 2011. The budget for the General Fund contained the following amounts:
Estimated Revenues $900,000
Appropriations 860,000
Authorized transfer to debt service fund 30,000
When the General Fund budget for fiscal year 2011 is recorded, indicate whether each of the following accounts should be debited, credited, or not affected.
1. Estimated Revenues2. Budgetary Fund Balance3. Appropriations4. Estimated Other Financing Uses5. Expenditures
Springfield Express is considering offering a discounted fare of $ 120, which the company believes would increase the load factor to 80 percent. Only the additional seats would be sold at the discounted fare.
Develop a linear programming model that will enable HTS to allocate technician time between regular customers and new customers.
Compute a common-size analysis in Excel and discuss the differences between the two corporations.
Erik Co. elects to use the percentage-of-sales basis in 2012 to record bad debts expense. It estimates that 3% of net credit sales will become uncollectible. Sales are $808,455 for 2012, sales returns and allowances are $47,894, and the allowance ..
What is the difference between the cash basis of accounting and the accrual basis of accounting? Which one would you select for a company that has inventory and why?
List the accounts and amounts of the company's shareholders equity.
explain the revenue and expenditure/expense recognition rules applicable to each class.
What is Richards Corporation"s charitable contribution deduction for the current year?
The current balance in Retained Earnings is $1,600,000. Determine the maximum dividend per share that can be paid to common shareholders.
Genesis Corporation is now in its 30th year of business. The founder of company is planning to retire at the end of year and turn the business over to his daughter.
Kat Inc. holds 75% of the outstanding common stock of Rax Corp. Rax currently owes Kat $500,000 for inventory acquired over the past few months. In preparing consolidated financial statements, what amount of this debt should be eliminated?
Suppose that the sales mix changes to 40% Aye, 25% Bee, and 35% Cee, what would be the new overall contribution margin ratio for the company?
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