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Question - Salvador County issued $25 million of 5 percent demand bonds for construction of a county maintenance building. The county has no take-out agreement related to the bonds. It estimates that 20 percent of the bonds would be demanded (called) by the buyers if interest rates increased by at least one percentage point. At year-end, rates on comparable debt were 7 percent. How should these demand bonds be reported in the governmental fund financial statements at year-end?
a. $25 million in the current liabilities section
b. $5 million in the governmental activities column AND $20 million would be reported in the schedule of changes in long-term obligations
c. $25 million in the long-term liabilities section of the governmental activities column
d. None of above
Discuss the problem of international segment identification, making reference to the strengths and limitations of current international audit regulation and practice.
Tonya is a cash basis taxpayer. In 2010, she paid state income taxes of $5,000. In early 2011, she filed her 2010 state income tax return and recieved a $500 refund.
A company wants to accumulate $285,000 in 7 years. How much must the company deposit today in an investment fund that earns 12% annual interest
Also, the partnership will assume responsibility for a $30,000 note secured by a mortgage on that building. Wright will invest $50,000 cash. For the partnership, the amounts to be recorded for the building and for Chen's Capital account are ??
Prepare the journal entries for the issuance of the bonds. Assume the bonds are issued for cash on
credit Card for paymentAccounting
List all FASB pronouncements issued from January 2018 to March 2019. Which accounts are affected for each FASB Pronouncement?
Jamie and Kristine each contributed P5000 during the year. Prepare the Partnership Statement of Changes in Equity
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For Stock A Expected return = 5.75% and Standard Deviation = 3.5576%. Calculate the expected return, standard deviation and coefficient of variation for Stock B
refer to the data in case b above. in this case there will be no savings in variable selling costs on intracompany
On December 31, 2016, the company had (a) 300 pairs of boots in finished goods inventory. Determine unit and dollar amounts of raw materials inventory
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