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1) Pass Through Agencies and GASB Investment Reporting
A) What is a "pass-through" agency-fund and under what conditions is it appropriate to use such a fund?
B) GASB standards require that investments be reported at fair value. Explain the GASB reporting requirements related to fair value. How do these requirements differ from reporting requirements for corporate entities?
Provide your reference in APA-Format and your in-text citation.
2) Government Financial Reporting
A) A city manager was overheard saying, "Since we don't release them to the public, I don't see any value in taking the time to prepare interim reports." Explain why you agree or disagree with this statement.
B) Describe how a taxpayer might assess the financial solvency and viability of a government using government-wide financial statements prepared according to generally accepted accounting principles
The machine would reduce labor and other operating costs by $76,000 per year. The internal rate of return on the investment in the new machine is closest to:
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Day Company purchased a patent on January 1, 2010 for $360,000. The patent had a remaining useful life of 10 year at that date. In January of 2011, Day successfully defends the patent at a cost of $162,000, extending the patent's life to 12/31/22...
assume that interest and premium or discount amortization have been recorded through january 1, 2013 .Record interest and amortization on only the bonds retired.
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lindex company uses a process costing system. the following data are available for one department for octoberpercent
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Your firm has clients named Danny and Mary. They are married and have two dependent children. They also fully support Mary's mother, who lives with them and has no income.
If the income tax rate is 30% and the amount of income taxes paid would be $300 greater if the LIFO assumption were used, what would be the amount of income before taxes under the LIFO assumption?
Please demonstrate your knowledge of current assets and liabilities by discussing: Dependencies between current assets and current liabilities either through balance creations or balance changes. Are there any special management considerations relate..
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