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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
Long-term Debt 10% notes payable $1,000,000 7% convertible bonds payable 5,000,000 Discount
Home Inc. is considering buying a new piece of equipment, which will cost $715,000 and has an economic life of 5 years, in order to make a new line of product. The company suppose
Problem 1 Seven years ago a semi-annual coupon bond with a 10% coupon rate, $1,000 face value and 15 years to maturity was issued by Corn Inc.. Teddy bought this bond two years ag
The time t= 0 continuously compounded term structure of interest rates is given by R(0 , T) = 0. 05 - 0. 005 e - 0.10 T . Find the price of a Treasury bond with exactly 3
Your firm has been hired to examine the financial statements of Bonanza Development Corp. for possible irregularities. As part of this task, you reviewed certain land transactions
Alexandria Co. Ltd has an authorized capital of Rs 25,000,000 divided into 250,000 equity shares of Rs 100 each. 100,000 shares were issued to public and Rs 80 per share were paid.
Unrealized profit on Property, Plant and Equipment Where one company sells an item of PPE to the other company in the group then, this will lead to two main problems. a) The se
SECRET TRUSTS The initial basis of the doctrine of secret trusts was the refusal of equity to permit a statute to be used as an engine of fraud (e.g. Bannister v Bannister). Cer
Q. Draw neat sketches showing recommended formation width for bank and cutting for concrete sleeper track on B.G. as per latest guidelines of the Railway Board for double line. Sid
Assume that you are interested in understanding how much must be saved regularly over a period of time in order that at the ending of the period you have a particular amount. To an
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