User Account

All Pages

What were total expenditures for the debt service fund

Assignment Help Accounting Basics
Reference no: EM131894275

Question - A Debt Service Fund is created to pay $1,000,000, 10-year, 5% bonds which were issued on April 1, 2015. Interest is payable each April 1 and October 1 and $100,000 of principal is paid each April 1 beginning April 1, 2016. The General Fund transfers the required cash payments each year to the Debt Service Fund.

What dollar amount is transferred to the Debt Service Fund for 2015 and what account does the Debt Service Fund credit?

A. $25,000 Revenue

B. $50,000 Other Financing Sources

C. $50,000 Revenue

D. $25,000 Other Financing Sources

What were total EXPENDITURES for the Debt Service Fund in 2017?

A. $0

B. $50,000

C. $145,000

D. $142,500

Reference no: EM131894275

Questions Cloud

What are the essential ideas of nietzsche philosophy : What are the essential ideas of Nietzsche's philosophy? Such as the following: Amor Fati, der Uberman, slave morality, master morality
What are the incremental free cash flows associated : What are the incremental free cash flows associated with the new machine?
Explain human rights better than utilitarianism : Why does Kantian ethics explain human rights better than utilitarianism? what each theory says about human rights?
What are three methods of news gathering that must be avoid : What are three methods of news gathering that must be avoided due to liability concerns and laws which restrict access?
What were total expenditures for the debt service fund : A Debt Service Fund is created to pay $1,000,000, 10-year, 5% bonds which were issued on April 1, 2015. What were total EXPENDITURES for the Debt Service Fund
Discuss the basic concepts of self-control theory : Of all the theories discussed in class, which theory do you feel best explains crime in your area? Be sure to list examples of how the theory ties.
Explain the type of duties you carried out that day : Write a paragraph that explains type of duties you carried out that day. Describe why you found particular task or event to be unusual or of special interest.
Mandate to select between two mutually exclusive projects : As the CEO of a large corporation, you have been given the mandate to select between two mutually exclusive projects
Does the firm have any opportunity to express its opinion : If the United States Supreme Court has decided a similar case, would that decision be binding on the Illinois court?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Property included in the donors gross estate

Which of the following circumstances would cause the gifted property to be included in the donor's gross estate?

  Tony hawks adventure tha issued callable bonds on january 1

tony hawks adventure tha issued callable bonds on january 1 2012. thas accountant has projected the following

  Review of the ledger of remina company

A review of the ledger of Remina Company at December 31, 2017, produces the following data pertaining to the preparation of annual adjusting entries.

  Break-even point and the cash break-even point

What is the difference between the (ordinary) break-even point and the cash break-even point and which will be the greater

  Financing and operating plan for current year

Revenue Outlook The primary source of revenue for Amazon.com is the sale of products and services to customers.

  How many months of living expenses does the article

Estimate how much you should set aside based upon your current situation. Are you closer to Cliff's scenario or to Prudence's?

  Distribution to the preferred stockholders

Preferred dividends have been paid every year except for the preceding two years and the current year. If $145,000 is to be distributed as a dividend for the current year, what total amount will be distributed to the preferred stockholders?

  Fundamental and core document

According to the Project Management Institute®, the Work Breakdown Structure (WBS) is a fundamental and core document used to manage projects.

  Calculate each of the shareholders stock bases

Emeline distributes $6,000 of cash to each of the shareholders during the tax year. Calculate each of the shareholders' stock bases at the end of the year.

  Given the following information calculate the net income

given the following information calculate the net income for the year ended december 31 2006 selling expenses 78000

  Self-employed for purposes of the code

Self-employed for purposes of the Code?

  Compute a statement of cash flows using the indirect method

Compute a 2018 statement of cash flows using the indirect method. Use the textbook format (pages 1,420, 1,423, 1,427). Do not submit supporting computations.

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