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The City of Buffalo River had the following transactions related to the construction of a new courthouse. (a) 1/1/07: 20 year 6% General Obligation Serial Bonds with a face value of $5,000,000 are issued on 1/2/07 for 101. Interest payments are made on Jan. 1 and July 1 of each year. The premium was transferred into the Debt Service Fund. (b) 3/1/07: Land is purchased for a new courthouse at a cost of $ 212,000. (c) 3/1/07: A contract is signed for construction of the new courthouse in the amount of $ 4,200,000. (d) 6/15/07: $275,000 is transferred from the general fund for the 7/1 payment due on the courthouse fund serial bonds. (e) 7/1/07: Interest ($150,000) and principal ($125,000) are paid on the courthouse fund serial bonds. (f) 12/1/07: Receive an invoice for progress completed to date on the courthouse construction project in the amount of $ 1,200,000. (g) 12/27/07: $146,250 is transferred from the general fund for the 1/1/08 interest payment due on the courthouse fund serial bonds. Interest is accrued as of 12/31/07, following the exception permitted by GASB. Required: Prepare a Statement of Revenues, Expenditures and Changes in Fund Balance for the Debt Service Fund. Assume this is the first year for the fund (beginning fund balance is zero) and the City has no other long-term debt than that described above.
If the cost of ZZ is allocated to the X and Y products on the basis of the number of gallons produced, how much of the total cost of the 400 drums should be charged to each product?
how and why might the importance of the budget affect generally accepted accounting principles for external general-
Analysts use the quick ratio (also known as the acid test ratio) and the current ratio. The use of both ratios has become common because
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research a specific company of your choice and identify some of the managerial decisions that were made over time and
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Provide the journal entry for the estimated warranty expense on May 31 and (b) the October 10 warranty work.
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directions answer all five questions. please submit your work in word or pdf formats only. you can submit an excel file
Fancy has a unit contribution margin of $120 and takes three machine hours to make. There are 2,400 machine hours available to manufacture a product. What should Dye do
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