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Question - Journal entries for a Private-Purpose Trust Fund
Record the following journal entries in the Children's Book Fund, a city's Private-Purpose Trust Fund that supplies books for children in nongovernmental nonprofit women's shelters.
1. A citizen donated $500,000 to a Private-Purpose Trust Fund. The trust specified that this money was to be used to acquire children's books for women's shelters.
2. The fund invested $420,000 in CDs.
3. Books costing $45,000 were acquired.
4. Interest income of $20,000 was received in cash from the CDs.
5. The accounts were closed for the year.
During the month the company bought additional inventory in the amount of $830. At the end of the month a physical inventory
What was the impact of your R&D decisions on materials cost? What other decisions were impacted by the increase or decrease?
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Joseph David Soap wishes to set up in business on his own as a carpenter, having acquired a small busi- ness connection from John Smith. Which of the following trading names, if any, would require Joe to comply with the provisions of the Companies..
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