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1. What is the distinction, as drawn by the GASB, between a fiduciary fund and a permanent fund?
2. How should governments report permanent fund and fiduciary fund balances and income in their government-wide statements? Explain
3. Why do the balance sheets of agency funds contain only assets and liabilities, but no fund balances? Why is it often unclear whether the resources relating to a particular activity should be accounted for in an agency fund or a governmental fund?
What were the limitations of the audit proceedures regarding management assertion of existence in the zzz best case?
Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2011: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sold, and Selling Expenses.
BlueCo is a US corporation with multiple business activities. On January 1, 2009, BlueCo granted a non-exclusive license of foreign patents to Rosso Ltd., an unrelated foreign corporation
In your diagram, show several transactions and how they would be tracked from the journal entry to the financial statement and back to the journal entry.
Winrow Co. purchased 50, 6% Johnston Company bonds for $50,000 cash plus brokerage fees of $500. Interest is payable semiannually on July 1 and January 1. The entry to record the December 31 interest accrual would include:
the following data is available regarding costs and
zodiac company has decided to introduce a new product which can be manufactured by either a computer-assisted
Tech Savvy, a computer consulting firm, has decided to write off the $8,375 balance of an account owed by a customer. Illustrate the effects on the accounts and financial statements to record the write-off (a) assuming that the direct write-off me..
In order to sustain operations and generate sales and cash flow, the firm required to make $1250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. By how much did the firm's net income exceed its free..
Write an essay (only one page)discussing Gregoire's views. What types of structural and functional changes in organizations may be necessary to help Gregoire overcome histraditional view?
A company shows a $600 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments columns show expired insurance of $200. This adjusting entry results in:
Did any of the internal service funds report significant operating surpluses or deficits for the year? Were any accumulated significant net asset balances over the years not invested in capital assets?
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