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Questions -
Q1) An Enterprise fund made a debt service payment of $75,000 ($45,000 principal, $30,000 interest) The Enterprise Fund will report
A) $0 expenses
B) $30,000 of expense
C) $75,000 of expense
D) A liability reduction of $75,000
Q2) A city's Enterprise Fund received $3,000,000 cash in the form of a capital grant during the fiscal year ended June 30, 20X3. The Enterprise Fund incurred and paid construction costs from that grant in the amount of $1,200,000. What amount should be reported on the Enterprise Fund Statement of Net Position as net investment in capital assets?
A. $0
B. $1,200,000
C. $1,800,000
D. $3,000,000
miller corporation began operations on january 1 2014 with a beginning inventory of 10600 at cost and 14000 at retail.
The beginning balance of accrued wages and salaries payable was 20,000. What was the ending balance in accrued wages and salaries payable
Metlock Inc. suffered a major loss from discontinued operations of $1,310,000. Compute the earnings per share on common stock
Kanye Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. What is its approximate internal rate
delta inc. is considering the purchase of a new machine which is expected to increase sales by 10000 in addition to
On January 10, Sheffield purchased 6 units at $680 each. The company sold 2 units on January 8 and 5 units on January 15. Compute the ending inventory
In addition, Lonnie paid the contractor $5,000 to construct an entrance ramp to his home and $7,000 to widen the hallways to accommodate his wheelchair. Lonnie's AGI for the year was $80,000. How much of these expenditures can Lonnie deduct as a m..
In 2016, Hunter and Monda (both under age 50) had compensation income of $1,000,000 and $200,000, respectively. Adjusted gross income on their joint return.
List the two major types of legal systems in the world. What organization replaced the International Accounting Standards Committee? What is the Norwalk Agreement?
Calculate the cost of salaries which would be charged in the statement of profit or loss of MVB for the year ended 31 December 2019.
Rob was given a residence in 2010. At the time of the gift, the residence had a fair market value of $200,000, and its adjusted basis to the donor was $140,000. The donor paid a gift tax of $10,000 on the taxable gift of $188,000. What is Rob's ba..
carter inc can make 100 units of necessary component part with the following costs dierct materials 120 000 direct
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