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Question :
Prepare journal entries in the General Fund of the Brownville School District.
a. The District had outstanding encumbrances of $13,000 for band instruments from the earlier year. It is the District's policy to reestablish those encumbrances in the following year.
b. The District ordered textbooks at an estimated cost of $87,000.
c. The band instruments arrived at an invoice price of $12,500 plus $225 shipping.
d. Textbooks initially estimated to cost $77,000 were received with an invoice price of $76,900. The residual portion of the order is backordered.
e. A contract was signed with a CPA to give the annual audit in the amount of $11,000.
Adopt an investment strategy that seeks to maximise both financial return
Financial management and accounting processes
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Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
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Evaluate the amount of depreciation expense that can be recognized under each of the subsequent depreciation methods in the first and second years of the truck's useful life.
What is the total increase or decrease in cash flow from having entered into this forward contract hedge?
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Using the cost model, at what amount could the land be reported in the statement of financial position of Jeng Ting Ltd for each reporting date? Describe your answers.
Prepare a business valuation for 2013 using the market value technique, the book value method, and the multiples-based techniques.
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