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The budgeted and actual revenues and expenditures of Seaside Township for a recent year (in millions) were as presented in the schedule that follows:
1. Prepare journal entries to record the budget.2. Prepare journal entries to record the actual revenues and expenditures. Assume all transactions resulted in increases or decreases in cash.3. Prepare journal entries to close the accounts.4. Determine the net change in fund balance. Does it equal the net change in actual revenues and expenditures?
Revenues: Budget ActualProperty taxes 7.5 7.6Sales taxes 2.1 2.4Other revenues 1.6 1.5Total revenues 11.2 11.5
Expenditures:Wages and salaries 6.2 6.1Supplies 3.1 3.0Other expenditures 1.3 1.2Total expenditures 10.6 10.3Increase in fund balance 0.6 1.2
The following information is for the third quarter of this year: Planned Actual Production 92,000 units 87,000 units Direct labor hours 506,800 DL hrs 380,000 DL hrs Fixed manuf
In this exercise you will familiarize yourself with index models, beta and CAPM estimation. Download the spreadsheet data_question3.xlsx from Sakai and use the data contained there
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What are the reasons of preparing income statement?
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Schedule of Work in Process The given schedule presents the calculations which pertain to work in the process. Pay attention to the details, noting that (1) direct materials
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