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Question: (Identification of funds through examples) For each of the following situations, indicate which fund would be used to report the transaction.
1. A city made payments to a contractor on a major bridge project.
2. The Department of Streets purchased materials to be used to repair potholes.
3. A city paid salaries to the employees of its Fire Department.
4. The state Tax Department collected sales taxes on behalf of several large cities in the state.
5. A city accumulated resources in a fund to pay principal and interest on its general obligation bonds.
6. A city acquired land for bridge approaches as part of the project mentioned in the first situation.
on december 312010 dow steel corporation had 600000 shares of common stock and 300000 shares of 8 noncumulative
Margin of Safety Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year.
Determine the proper accounting treatment for each of the above costs and prepare a summary journal entry to properly record the costs
harmon household products inc. manufactures a number of consumer items for general household use. one of these products
A business is considering a cash outlay of $500,000 for the purchase of land, which it could lease for $40,000 per year. If alternative investments are available which yield a 21% return, the opportunity cost of the purchase of the land is:
What is the distinction between Sales Returns and Sales Allowances?
Suppose a US corporation (tax rate 34%) with $2,500,000 of domestic income sets up a branch in Japan earning $800,000, where the tax rate is 50%. Also, assume I earned another $100,000 in interest revenue in a country with a 10% income tax rate.....
The slowing economy in 2000 combined with Home Depot's aggressive expansion efforts was the reason for Home Depot's poor financial performance.
The deferred tax liability classified as noncurrent that resulted from the use of MACRS for tax purposes and straight-line depreciation for financial reporting purposes, increased from $40,000 at the beginning of the year to $44,000 at the end of ..
vargo company engaged in the following transactions inaugust 2011aug. 7 sold merchandise on credit to ken smith
krum marina sells a 42 foot exploratory submersible on october 1 2013 and receives a 790822 non-interest
AMOS differential amplifier biased with a current source I =200 μA is found to switch currents completely to one side of the pair when a difference signal vid =0.3 V is applied.
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