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Prepare(a) The journal entries for 2012 necessary to record the following events and transactions for the College Scholarship Fund(b) A statement of changes in fiduciary fund net position for the fiscal year ending December 31, 2012, for the fund(c) A statement of fiduciary fund net position as of that date; and(d) The 2012 closing entry (entries) for the fund.1. The City of Rocky Basin received a $ 2,000,000 gift from a prominent citizen. The terms of the gift require the city to maintain the principal intact investment income is to be used to provide college scholarships for deserving graduates of Rocky Basin High School.2. The city invested the entire gift in CDs.3. Interest income of $ 100,000 was received in cash.4. That $ 100,000 was reinvested in short- term CDs.5. The short term CDs matured, yielding interest income of $ 1,000.6. Interest income of $ 112,000 was received in cash.7. Scholarships totaling $ 65,000 were paid to eligible students. 8. Interest income of $ 2,300 was accrued at the end of 2012.9. The General Fund charged the Scholarship Fund $ 3,000 , $ 2,000 for managing the investments and $ 1,000 for administering the fund. The amounts were unpaid at fiscal year end.
The Ricardo trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Lucy and Ethel) are entitled to the trust's annual accounting income in shares of one-half each.
Determine the product mix for statues that allows maximization of the company's operating margin.
timo company is considering two alternatives. alternative a will have sales of 151400 and costs of 101300. alternative
a company has 25 per unit in variable costs and 1000000 per year in fixed costs. demand is estimated to be 100000 units
southern california inc. through no fault of its own lost an entire plant due to an earthquake on may 1 2011. in
several years ago medex company purchased a small buildingadjacent to its manufacturing plant in order to have room
Cost allocation is the process of assigning costs to departments that generate charges that include those costs. An example of this would be allocating the cost of electricity to the pediatric unit of a hospital. Provide an example of how a cost i..
1.gerard has a nltcg of 20000 and a nstcl of 30000. what is gerards 2010 capital loss deduction if gerards adjusted
sponsors of a local charity decided to attract wealthy patrons to its 500-a-plate dinner by allowing each patron to buy
How do the calculation and comparison to previous years of the gross margin percentage and the ratio of accounts receivable to sales are related to the conformation of accounts receivable and other tests of the accuracy of accounts receivable?
Edmondson Inc. produces and sells a single product. The selling price of the product is $200.00 per unit and its variable cost is $50.00 per unit. The fixed expense is $205,500 per month
TMC issued $50 million of its 12% bonds on April 1, 2011, at 98 plus accrued interest. The bonds are dated January 1, 2011, and mature on December 31, 2030. Interest is payable semiannually on June 30 and December 31. What amount did TMC receive f..
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