Reference no: EM133102480
Question - During the current year, the Town of Falmouth had a number of transactions that affected net position of its town skating rink, which is operated as an enterprise fund. You are provided with the following information:
1. The beginning net position balances are net investment in capital assets, $679,300; restricted, $0; and unrestricted, $1,353,696.
2. Net income for the year was $162,640.
3. Depreciation expense totaled $53,961.
4. A piece of equipment with a carrying value of $25,800 was sold for $24,700.
5. Bonds for $500,000 were issued to construct a concession stand at the rink. At the end of the year, the concession stand was 50 percent complete, and construction work in progress totaled $247,861.
6. A $14,991 principal payment was made on a lease obligation.
7. A new Zamboni ice resurfacing machine was purchased for $220,000. At the end of the year, a $29,700 note associated with the machine remains outstanding.
Required - Prepare the net position section of Falmouth's statement of net position.
|
Identify the major internal and external cultural factors
: Identify the major internal and external cultural factors (commercial and international) that influence our perception of this organization:
|
|
How much common stock did Bishop issues during the year
: If dividends paid to stockholders equaled $65,000, how much common stock did Bishop issues during the year
|
|
How many silk ties should be made
: An apparel manufacturer makes 4 types of neckties: all silk, all cotton, all polyester and a 50/50 cotton-polyester blend. The profit per tie, the quantity of f
|
|
Making consumer decisions
: Are advertisers using neuromarketing to push the limits in making consumer decisions?
|
|
Prepare the net position section of Falmouth statement
: A piece of equipment with a carrying value of $25,800 was sold for $24,700. Prepare the net position section of Falmouth's statement of net position
|
|
What is meant by big data analytics
: What is meant by "Big Data Analytics"? Find the answer in the link below and then comment on your view of Big Data Analytics. What is it meant by that term.?
|
|
What is the maximum debt ratio
: Question - Grunewald Inc. is developing its business plan. It will require $3,500,000 of assets, What is the maximum debt ratio
|
|
Four choices of different asset classes
: What are your top four choices of different asset classes in which you would prefer to invest?
|
|
What is Sommers EV-EBITDA ratio
: Assume the firm's debt is priced at par, so the market value of its debt equals its book value. What is Sommers's EV/EBITDA ratio
|