User Account

All Pages

Make journal entries so the foregoing information

Assignment Help Accounting Basics
Reference no: EM133168409

Question - The following information is from a city's government-wide statement of net position at December 31, 2021:

Capital assets $4,500,000

Accumulated depreciation, capital assets $2,400,000

Bonds payable -0-

The following information is from the city's governmental funds statement of revenues, expenditures, and changes in fund balances for the year ended December 31, 2021:

Expenditures - capital outlay (General Fund) $ 60,000

Expenditures - capital outlay (Capital Projects Fund) $900,000

Depreciation on old and new assets during the year was $546,000.

Required - Make journal entries so the foregoing information can be used in a work sheet to prepare government-wide financial statements for the year ended December 31, 2015.

Reference no: EM133168409

Questions Cloud

What are the tax consequences of these events : During 2019, a capital property with an adjusted cost base of $144714 is sold for $101308. What are the tax consequences of these events
Prepare the journal entry that meta would record on may : The stand-alone selling price for the Comfort Office Keyboard is $19.00 per unit. Prepare the journal entry that Meta would record on May 1, 2021
Journal entries using two methods of recording share : XYZ Corp received its charter in January 2020, allowing it to issue 200,000 ordinary shares with a par value of Php30. Journal entries using two methods
What is the expected return and standard deviation : Suppose you choose to invest 60% of a portfolio in the risky portfolio and the rest in a risk-free money market. What is expected return and standard deviation
Make journal entries so the foregoing information : Make journal entries so the foregoing information can be used in a work sheet to prepare government-wide financial statements for the year ended
Principles and benefits of Agile : Use Agile methodology and take on the role of a scrum master, responsible for all aspects of sprint planning
How much cash will the company have to borrow : Minimum cash balance desired 200,000 - How much cash will the company have to borrow in order to meet its required needs
Determine the carrying value of the bonds on december : The effective interest method of amortization is to be used. Determine the carrying value of the bonds on December 31, 2020
What is sinag enterprises cash conversion cycle : n 2021, the firm had $12 million in credit sales and $8 million in cost of goods sold. What is Sinag Enterprises cash conversion cycle

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the capital turnover ratio using total assets

Zylex Corporation has multiple factories across the United States. Compute the capital turnover ratio using (1) total assets and (2) assets net of depreciation

  What is the amount of the reclassification adjustment

The company has a 30% tax rate. What is the amount of the reclassification adjustment for other comprehensive income on December 31, 20x3?

  What category is referenced to assign the code

What category from the ICD-10 is referenced to assign the code for the removal of the stent in Case-2

  What is the required treatment of each of the events

What is the required treatment of each of the below events in the financial statements? Justify your decisions

  Prepare separate entries for each transaction on the books

Prepare separate entries for each transaction on the books of Pais Company. On June 10, Pais Company purchased $9,000 of merchandise from McGiver Company

  How much is Chad recognized gain

The adjusted basis of the building at the time was $890,000. How much is Chad's recognized gain, and what is his basis in the new building

  Calculate the basic and diluted earnings per share

The profit after tax available for dividends for A&B is $1,500,000 for the year ended 31 December 2020. Calculate the basic and diluted earnings per share

  How would use the information in a spreadsheet

How would use the information in a spreadsheet form while ignoring income taxes, A company is investigating the feasibility of purchasing a machine

  Write a short note on unearned income

"Write a" short note on unearned income/ Income received in advance with Literature Review and by providing examples

  List and explain the exceptions to the parol evidence rule

List and explain the exceptions to the parol evidence rule. What is the parol evidence rule, and what is the court's reasoning in applying the rule

  Classical and operant conditioning

Write a 450-to-700-word essay to describe the relationship between classical and operant conditioning. Explain their elements and how they differ from one another.

  Discuss what is her basis in the property received

What is the amount of Ellie's dividend income on the distribution. What is her basis in the property received

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd