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1. (TCOs D, E, F, and G) Please list the name of the fund(s) in which each of the following transactions or events would be recorded. (1) $200,000 was appropriated, to be advanced from funds on hand, to finance the establishment of a City Motor Pool for servicing city-owned transportation equipment. (2) A contribution of $500,000 was received from a private citizen. The use of the income earned on the investment of this sum of money was specifically designated by the donor. (3) $750,000 of real estate and personal property taxes, which had not been assessed or levied for any specific purpose, were collected by the city. (4) Interest of $50,000 was paid on the City Hall serial bonds. (5) Interest of $75,000 was received on the Investment on Mortgage Bonds are set aside for the retirement of the City Hall mortgage bonds. (6) The City Motor Pool was reimbursed $100,000 for services on the equipment of the fire and police departments.
Briefly describe the advantages and disadvantages of stating a code of conduct using general statements of ideal conduct as opposed to specific rules that define unacceptable behavior.
Fixed manufacturing costs are $5 per unit based on the current level of activity, and fixed selling and administrative costs are $4 per unit. A selling commission of 10% of the selling price is paid on each unit sold. The contribution margin per u..
Majestic could avoid $5,000 in fixed overhead costs if it acquires the CDs externally. If cost minimization is the major consideration and the company would prefer to buy the 60,000 units externally, what is the maximum external price that Majesti..
Under the proportionate consolidation concept, which of the following statements is true?
Ernie's executor elects to claim the marital deduction for the QTIP transfer. At the time of the surviving spouse's death, the value of the QTIP trust is $3.6 million. The amount of the QTIP trust included in the surviving spouse's gross estate is..
cause and effectbull from the e-activity compare and contrast the cause and effect of at least one cost driver in the
The cost of not taking the cash discounton trade credit of 3/10, net 30 is equal to:
Under the acquisition method, if the fair values of identifiable net assets exceed the value implied by the purchase Pratt of the acquired company, the excess should be:
question 1 your investmentnbspadvisernbspwants you to purchase an annuity that will pay you 25000 per year for 10
Calculate the predetermined overhead rate for 2010, assuming Garcia Manufacturing estimates total manufacturing overhead costs of $1,050,000, direct labor costs of $700,000 and direct labor hours of 20,000 for the year.
On January 1, 2009 Gucci Brothers Inc. started the year with a $500,000 credit balance in retained earnings and $600,000 balance in capital stock. During 2009, the company earned net income of $100,000, declared a dividend of $15,000, and issued m..
Fraud is a major concern in the business world.In a few paragraphs, explain the difference between an intentional misstatement of financial statements and misappropriation of assets.
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