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Special Revenue Fund, Voluntary Non-exchange Transactions
The City of Eldon applied for a competitive grant from the state government for park enhancement such as upgrading hiking trails and bike paths. On 1st May, 2011, the City was notified that it had been awarded a grant of $200,000 for the program, to be received in two installments on 1st July, 2011, and July 1, 2012. The grant stipulates that $100,000 is for use in each of the city's fiscal years ending June 30, 2012, and June 30, 2013. Any amounts not expended through FY 2012 will be carried over for use in FY 2013. In FY 2012, the city expended $90,000 for park improvements from grant resources.
Compute the amount of gross profit from the sales in July and prepare journal entries to record the following July transactions and events.
Prepare Newcomb Corporation's income statement for 2009, including earnings per share. Assume a weighted average of 100,000 shares of Common Stock outstanding for 2009.
If the company were to prorate the variances, how much ($) of the direct material usage variance would be allocated to finished goods inventory?
Prepare a Cash Budget for the months of February and March, using the template provided in Doc Sharing
Evaluate a consolidated statements workpaper
Write a report the owners detailing ALL the different options and considerations that you feel the owners should consider raising the $60 million.
questionparent corporation purchased land from s1 corporation for 220000 on december 26 20x8. this purchase followed a
You are an employee of BusComm Consulting. Begun as a small scale business just a few years ago, BusComm has outsourced its payroll and tax accounting and return preparation to Accountpreneurs, a company specializing in accounting support for smal..
The accounting standards refer to the preferred method of asset and liability valuation as ‘fair value'. A review of published financial statements indicates that ‘historic cost' is much more commonly used. Why do you think this is so? What is you..
question1. in 2013 justin invested 20000 in a cattle-feeding partnership that used nonrecourse notes to purchase 100000
Evans made an installment sale on 2-1-2012 totaling $200,000. The merchandise cost $140,000. Ignore interest. Collections totaled $40,000 in 2012, $80,000 in 2013 and $30,000 in 2014. Using the cost recovery method, how much profit would be shown ..
What is the cost per unit of inventory using variable costing?
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