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Question - Prepare journal entries in the Capital Projects Fund to record the following transactions related to the construction of a new office building by Washington City. The City adopts a formal budget and uses encumbrance accounting. Only records entries for the Capital Projects Fund.
1. Record the budget to finance construction of the building, the city will receive a transfer of $3 million from its General Fund. The city will also receive a state grant of $1 million. It appropriates $4 million for construction.
2. The Capital Project Fund receives a transfer of $3 million from the General Fund for the new project.
3. Washington City awards a construction contract in the amount of $3.4 million and encumbers the funds.
4. The contractor sends an invoice to Washington City in the amount of $1.6 million. The invoice is vouchered to be paid.
5. The voucher in d above, is paid less a 10% retainage to the contractor pending the completion of the building and final approval by the City.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
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CAPM and Venture Capital
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