User Account

All Pages

What amount should be reported on the enterprise fund

Assignment Help Accounting Basics
Reference no: EM132685988

Problem 1: 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

Reference no: EM132685988

Questions Cloud

Plot 3 yield curves : Using the information contained in the table below of some selected interest rates, do the following:
What is organizational culture : What is Organizational Culture and Why Culture Matters to Your Organization by Daniel Denison - Leadership is impacted by culture
How might an issue within the overall stock market : How might an issue (negative or positive) within the overall stock market impact the company's stock valuation numbers, other financial variables
Construct a table of the investor profit : An investor purchased a call option for $2.00 two months ago that allows the investor to purchase one share at $30. The option is now about to expire.
What amount should be reported on the enterprise fund : A city's Enterprise Fund received $3,000,00.What amount should be reported on the Enterprise Fund Statement of Net Position as net investment in capital assets?
What production in units for third quarter should be budget : Ottawa, Inc. estimates its sales at 253,337 units in the first quarter. What Production in units for the third quarter should be budgeted at
Calculate the yield using a geometric average : Calculate the yield using a geometric average. Do not round intermediate calculations. Round your answer to two decimal places.
Development of the business model canvas : Development of the Business Model Canvas (BMC) typically begins with the value proposition expressed in terms of the offerings made to meet market/customer need
What year dividend received by the preferred shareholders is : Common Stock $20,000 Cash Dividends paid Year 1 $ 1,000 Year 2 $ 200 Year 3 $ 2,000 Year 3 Dividends received by the Preferred shareholders is

Reviews

Write a Review

Accounting Basics Questions & Answers

  All direct materials are placed in process at the beginning

the debits to work in process--assembly department for april together with data concerning production are as

  Prepare the journal entry trump should have recorded

Assuming Trump owns 25% of Bannon and applies the equity method, prepare the journal entry Trump should have recorded at the end of 2017 to defer gross profit

  What was pve''s pension expense for the year?

What was PVE's pension expense for the year?

  Determine the division of income among the three members

Determine the division of income among the three members. If an amount box does not require an entry, leave it blank

  The use of the retail method to value inventory

The accounting treatment required for a correction of an inventory error in previously issued financial statements.

  Compute the net profit margin for each year

Compute the net profit margin for each year (expressed as a percentage with one decimal place). Given your calculations here and in requirement 1, explain whether Chevron did a better or worse job of controlling expenses other than the costs of crude..

  Describe one advance in technology that helps reduce theft

Controlling inventory has evolved with the widespread use of technology. Describe one advance in technology that helps reduce theft or errors

  Make a bank reconciliation at August

In addition, $2,526 collected for Wildhorse Company in August by the bank through electronic funds transfer. Make a bank reconciliation at August

  Identify if this requires a modification of or a deviation

One of your audit clients has a material investment in a privately-held biosciences company. Your audit firm engaged a business valuation specialist to assist in evaluating the client's estimation of the investment's fair value. You conclude that ..

  Does company have any long-term liabilities

Briefly describe your company's investments and intangible assets, Does your company have any long-term liabilities

  Was the partnership correct in its determination

A subsidiary of Corporation A, an electrical utility located in Springfield, Was the partnership correct in its determination of the type of gain recognized

  Determine the equivalent units of production for may

Determine the equivalent units of production for May. Determine the costs per equivalent unit for May. (Round your answers to 2 decimal places.)

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd