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For the year ended December 31, 2012, the general fund of Ward Village reported revenues from the following sources on the statement of revenues, expenditures, and changes in fund balances:
Sales taxes $ 25,000 Property taxes 125,000 Income taxes 15,000 Fines 10,000 In accordance with GASB 33, Accounting and Reporting for Nonexchange Transactions, what is the amount of revenues that came from imposed nonexchange transactions?
Discuss the impact that other factors might have. For example, would increasing the quantity of inventory increase costs? Would a salary cut affect employee morale? Would decreased morale affect sales?
Approximately, 30% of the inventory purchased during any one year is not used until the following year: Illustrate what is the noncontrolling interest’s share of rockne’s 2011 income? b.Prepare Doone’s 2011 consolidated entries requir..
David and Mary smith together earn $54,000 per year, David and Mary would like to buy a home for $200,000. They have one child. The new mortgage is $160,000 at 6 1/4 for 30 years for $985.15 per month. what is the maximum percentage of monthly mortga..
On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year.
How do you account for differences in service life for alternative investments? Give examples to support your arguments. Give an example for a must-choose-one type of alternative. List three ways to calculate the incremental DCFRR on investments.
Sheri and Meri qualify as Laureen's dependents. Laureen also paid $1,900 for her son Ryan's (also Laureen's dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,200 for herself to attend semi..
How does a five-year summary of historical results help investors? Which items are reported on a segmental basis? How are segments identified? Why is off-balance-sheet finance a problem in accounting?
For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is h..
What is the appropriate unit of account in an impairment measurement of a long-lived asset to be held and used?
On January 1, 2014, Raynick Ltd. purchased, and then leased, a building to Coos Co. The relevant information related to the lease is as follows: Is this a capital lease or an operating lease? Explain briefly. Note that you have all the information yo..
Wendy is a single taxpayer, whose salary was $62,000 in 2015. In that year, she also suffered a $6,000 short-term capital loss. Her itemized deductions for the year totaled $5,000. What are Wendy’s 2015 (a) adjusted gross income; (b) taxable income; ..
The Zeller Corporation's stockholders' equity accounts have the following balances as of December 31, 2016: Common stock, $10 par (30,000 shares issued and outstanding) $ 300,000 Additional paid-in capital 2,000,000 Retained earnings 5,700,000 Total ..
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