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General capital assets are accounted for differently in fund governmental-wide financial statements.
A city engaged in the following transactions during a year.a. it acquired computer equipment at a cost of $40,000.b. it completed construction of a new jail, incurring $245,000 in new costs. in the previous year, th city had incurred $2.5 millin construction costs. the project was accounted for in a capital project fund.c. it sold for $16,000 land that it had acquired three years earlier for $28,000.
1. Prepare journal entries to reflet the transactions in an appropriate governmental fund (e.g., a gneral fund, or a capital projects fund).2. Prepare journal entries to reflect the transactions in the city's government-wide statements.
On January 1, 2010, Jon purchased 50% of Waite, an S corporation, for $75,000. At the end of 2010, Waite incurred an ordinary loss of $1600. How much of the loss can Jon deduct on his personal income tax return for 2010?
schedule of cash payments eastgate physical therapy inc. is planning its cash payments for operations for the first
The following selected transactions relate to certain securities acquired by wildflower Blueprints Inc. Journalize the entries to record the foregoing transactions.
During the year just ended, Kerry Company's income under absorption costing was $3,000 lower than its income under variable costing.
marlow company uses a perpetual inventory system. it entered into the following calendar-year 2009 purchases and sales
sparkman co. filed a bankruptcy petition and liquidated its noncash assets. sparkman was paying thirty cents on the
Prepare a proper schedule of consolidated net income and apportionment to non controlling and congtrolling interests for 2010.
Valdivieso Roofing is considering the purchase of a crane that would cost $137,885, would have a useful life of 9 years, and would have no salvage value. The use of the crane would result in labor savings of $23,000 per year. The internal rate of ..
At the end of the period, the factory overhead control account for Department A had a debit balance of $260,000; actual direct labor hours were 63,000. What was the under- or over applied factory overhead for the period
in january 2013 mitzu co. pays 2650000 for a tract of land with two buildings on it. it plans to demolish building 1
in its annual report to shareholders. general electric reported the following financial resultsrevenues increased from
what is the npv of a project that costs 100000 and returns 50000 annually for three years if the opportunity cost of
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