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Fund accounting and preparation of financial statements)The scenario: At the start of the year beginning January 1, 2013, Coco City's General Fund had a cash balance of $40,000, vouchers payable of $35,000, and unassigned fund balance of $5,000. There were no balances in either the Capital Projects Fund or the Debt Service Fund. Coco City has adopted the following budgetary and accounting policies:• Encumbrance accounting is used only for the acquisition of supplies. Open encumbrances lapse at the end of the year, but are considered in developing the next year's budget.• For consistency with property taxes, "available" is defined for sales taxes as taxes expected to be collected within the first 60 days of the next year.Part A ( Chapter 2 -Identification of funds) Coco City uses separate funds for the following activities. State the names of the funds that Coco City will use for each of these activities.1. To account for its day-to-day operating activities2. To acquire or construct major capital assets3. To accumulate resources to service long-term debt4. To operate a municipal swimming pool
Q. Determine Annual effective cost? (i) Payables policy One month cost of taking extended trade credit = 1.5/98.5 = 1.52% Annual effective cost = 1.015212-1 = 19.8%
Interest on Zeroes: Tesla Corporation needs to raise funds to finance a plant expansion, and it has decided to issue 25-year zero coupon bonds to raise the money. The required
Explain the term - Providing a service One way of viewing accounting is as a form of service. Accountants provide economic information to their 'clients', who are numerous user
The demand curve for a product is given by Qxd = 2,000 - 5Px + 0.2Pz, Where, Pz = $500. a. What is the own price elasticity of demand when Px = $120? Is demand elastic or inelasti
Order Point Formula The analysis discussed above tends to be somewhat cumbersome when probability distributions are most complex and dependent and multi-period cases are involv
Thatcher Corporation's bonds will mature in 12 years. The bonds have a face value of $1,000 and an 11.5% coupon rate, paid semi-yearly. The price of the bonds is $1,050. The bonds
Q. What do you mean by Bankruptcy? Bankruptcy - Legal process, governed by federal statute, whereby the DEBTS of an insolventperson are liquidated after being satisfied to the
I have an assignment due in four hours. Is it possible to get an inquiry if at least half of it can be done within that time?
The managers of Merton Medical Clinic are analyzing a proposed project. The project's most likely NPV is $120,000, but, as evidenced by the following NPV distribution, there is con
Dietz&Dow Industries (DDI) makes an unexpected takeover bid for Hein & Hillgen Instruments (HHI). DDI offers to pay $50 per share of HHI, which represents a 25% premium over the pr
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