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General capital assets are accounted for different... 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
Membership in the Federal Reserve System is
The partners share profits and losses as follows: Able, 50%, Bert, 30%, Carl, 20%. The partners have decided to liquidate their partnership by installments. Cash is distributed to the partners at the end of each month. Statement of Partnership Realiz..
Donald started Donald Designers and invested $25,000 into the business on June 1, 2015. He rendered services to three clients on account with total revenues earned of $9,000. On June 13, he purchased $1,000 of office supplies for cash. No withdrawals..
Fred's Electrical, Inc sells electrical parts to electrical contractors in the northwestern United States. Fred's customers mail their payments - attached to the stub (i.e., remittance advice [RA]) from their monthly statement - to Fred's account rec..
Sprinkle Co sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,..
What is the noncontrolling interest's share of the subsidiary's net income for the year ended December 31, 2011 and what is the ending balance of the noncontrolling interest in the subsidiary at December 31, 2011?
A company has Net Income of $20, which included $4 of depreciation expense. There were no other noncash expenses in Net Income and there were no gains or losses. What was the company's Cash Flow from Operating Activities
Prepare a strategic assessment of the sample break-even analysis your research. within your assessment, discuss when it is appropriate to use a break-even analysis and how a break-even analysis is done?
Cadion Co. owned a controlling interest in Knieval Inc. Cadion reported sales of $420,000 during 2011 while Knieval reported $280,000. Inventory costing $28,000 was transferred from Knieval to Cadion (upstream) during the year for $56,000. Of this am..
You are hoping to buy a house in the future and recently received an inheritance of ?$24,000. You intend to use your inheritance as a down payment on your house. a.If you put your inheritance in an account that earns 7 percent interest compounded? an..
Prepare McClellan Company's statement of cost of goods manufactured for December. Enter all amounts as positive numbers. Prepare McClellan Company's income statement for December.
How can Avon have a larger balance of treasury stock than the sum of Common Stock and Paid-in Capital in Excess of Par
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