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The Village of Delmar is preparing its government wide statement of activities for the year ended December 31, 2013. Analysis of the data accumulated thus far shows the following expenses for each of its programs:
The Village of Delmar is preparing its government wide statement:The Internal Service Fund (ISF) billings are from the village Motor Pool ISF. The ISF column of the proprietary funds statement of revenues, expenses, and changes in fund net position, prepared by the Village of Delmar, shows the following:Charges for services............. $ 100,000Operating expenses:Personal services ............. 70,000Repairs and maintenance......... 5,000Depreciation............... 15,000Total operating expenses.......... 90,000Operating income............. 10,000Total net assets beginning of year ..... 45,000Total net assetsending of year ....... $ 55,000Calculate the amounts that the Village of Delmar should report as expenses for each of its programs in its government wide statement of activities for the year ended December 31,2013.
Compute the mean and median number of clients seen by the partners. Is the mean a sample mean or a population mean?
Briefly describe some of the similarities and differences between U.S. GAAP and iGAAP with respect to the accounting for stockholders' equity.
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Why do generally accepted accounting principles require the use of lower of cost or market in valuing inventory? What are the three different inventory cost flow assumptions commonly used in commerce today and allowed by generally accepted accoun..
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