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Unassigned Fund and Lowering Interest Cost
Instructions: Answer these two questions in a 1-2 page document.
1. A government’s unassigned fund balance in the general fund at year-end should be indicative of the amount that the government has available for appropriation in future years. Explain and provide an example to support your answer.
2. What is meant by an in-substance defeasance, and how can a government use it to lower its interest costs? How must it recognize a gain or loss on defeasance if it accounts for the debt in a proprietary fund? How do the GASB standards pertaining to in-substance defeasances differ from those of the FASB?
The CFO thinks the WACC should be based on market value weights, but the president thinks book weights are more appropriate. Illustrate what is the difference between these two WACCs?
S CORPORATION TAX RETURN PROBLEM Required: Using the information provided below, complete Salt Source Inc. s (SSI) latest Form 1120S - Of the $5,000 interest income, $2,000 was from a West Jordan city bond used to fund public activities (issued in ..
Understand how fixed and variable costs behave and how to use them to predict costs, analyze a mixed cost using the high-low method and prepare an income statement using the contribution format.
Briefly explain the double taxation problem and how paying large salaries to owners avoids it. Briefly discuss how the reasonable compensation issue applies to S-corporations.
The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year 2008 are as follows: January 1 finished goods, $765,000; December 31 finished goods, $540,000; cost of goods sold for the year, $2,560,000. The budg..
Disclosure of depreciation expense in income statement - Evaluate the amount of depreciation that should be reflected on the income statement for 2006 and 2007.
At a company, events and transactions during 2014 included the following. The tax rate for all items is 30%. Calculate the effect of these events and transactions on 2014 income from continuing operations net of tax. Display your work in detail.
A firm's bonds have a maturity of 14 years with a $1,000 face value, have an 11% semi annual coupon, are callable in 7 years at $1,234, and currently sell at a price of $1,402.66. What is their nominal yield to maturity? What is their nominal yield t..
you are meeting with accounting department personnel to make sure they understand the importance of corporate social
What are the relevant costs involved in this decision and Should Cowboy sub-contract its delivery needs to Select?
calculation of labor rate and efficiency variances.at the beginning of last year diekow productions set direct labor
Effect of accepting the special order on Melville's operating income - Job costing - Accepting special orders
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