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Interfund and Interactivity Transactions. The following transactions affected various funds and activities of the Town of Big Springs. 1. The Fire Department, a governmental activity, purchased $100,000 of water from the Water Utility Fund, a business-type activity. 2. The Big Springs Golf Course, an enterprise fund, reimbursed the General Fund $500 for office supplies that the General Fund had purchased on its behalf and that were used in the course of the fiscal year. 3. The General Fund made a long-term loan in the amount of $50,000 to the Central Stores Fund, an internal service fund that services town departments. 4. The General Fund paid its annual contribution of $100,000 to the debt service fund for interest and principal on general obligation bonds due during the year. 5. The $5,000 balance in the capital projects fund at the completion of construction of a new Town Hall was transferred to the General Fund. Required a. Make the required journal entries in the general journal of the General Fund and any other fund(s) affected by the interfund transactions described. Also make entries in the governmental activities journal for any transaction(s) affecting a governmental fund. Do not make entries in the subsidiary ledgers.
the net income reported on the income statement for the current year was 220000. depreciation recorded on plant assets
our company has two checking accounts. back in 2007 former bookkeeper by mistake entered wire transfer from one
ursula company maintains a petty cash fund for small expenditures. the following transactions occurred over a 2-month
clr inc. is a clothing manufacturer. recently clr made and produced about 2000 shirts. during the production process
Obtain one (1) peer-reviewed (scholarly) article that is unique from your teammates, and relevant to the business problem or research question. Write out the team business problem or research question
the book promoters association of canada members recently questioned what could be done to rejuvenate the canadian book
at an activity level of 8700 machine-hours in a month nooner corporations total variable production engineering cost is
From a review of the stockholders' equity section, as chief accountant, write a memo to the president of the company answering the following questions.
1. Calculate the return on equity for Abercrombie in 2012. (Enter your answers in millions, not in dollars. Round your answers to 1 decimal place.)
At the beginning of the year, Wildcat Athletic had an inventory of $200,000. During the year, the company purchased goods costing $800,000. If Wildcat Athletic reported ending inventory of $300,000 and sales of $1,050,000, their cost of goods sold..
Following are several December 31 account balances of Brookhaven Square, Inc. prior to the preparation of year-end adjusting journal entries: Briefly describe the nature of the adjusting journal entries for the accounts identified.
pamela andersons retail boutique asks your help in determining the comparative effects of the fifo and lifo inventory
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