General government capital project

Assignment Help Taxation
Reference no: EM1374927

Matthew County issued a six month, 6 percent, $1,000,000 bond anticipation note on march 31, 20X5, to give temporary financing for a major general government capital project. The issuance of long-term bonds had not yet gets the legally required voter approval when the financial statements were issued, but most concur the voters will approve the referendum. Thus, in the event that the voters reject the long-term bond issue, the county has other sources it will use to finance the project.

1. Suppose the county has incurred $800,000 of construction costs on the project by end of its fiscal year (June 30,2005), the fund balance of the capital projects fund used to account for this project could be?

Reference no: EM1374927

Questions Cloud

Impacts of innovation and technology : What do you think about the most important determinants that impact demand for banking industry's product or service and determine the impacts of innovation and technology on the cost of production?
Importance of the study and hypothesis : State your project's problem, sub-problems, data needed, assumptions and delimitations, importance of the study and hypothesis.
What would be your biggest concerns regarding risk and why : Briefly explain what you would consider to be the top five vulnerabilities of Vista/Windows 7 and describe what are three similarities and three differences between the Trust Services Principles and COBIT 4.1?
Deliberate the gunpowder revolution as well as the changes : Deliberate the Gunpowder revolution as well as the changes that took place in technology, architecture and science and so on?
General government capital project : Suppose the county has incurred $800,000 of construction costs on the project by end of its fiscal year (June 30,2005), the fund balance of the capital projects fund used to account for this project could be?
Discuses reason why an entrepreneur would use : Discuses reason why an entrepreneur would use his or her own money to finance business. Then deliberate reasons why an entrepreneur
Characteristics of market leaders and monopolies : IBM Company has a reputation for not necessarily making new technology, but acquiring relatively new firms with innovations and successful technology.
Perform a team performance analysis : There is a set of four criteria utilized to perform a team performance analysis- productivity, cohesion, learning and integration
Employees who operate the gambling facilities : the hotel workers demanded equal treatment and therefore were also allowed to eat in restaurant at no charge while they are at work. Which is correct?

Reviews

Write a Review

 

Taxation Questions & Answers

  Purpose a 2010 s corporation tax return

Purpose a 2010 S corporation tax return (Form 1120S), including the subsequent additional schedules and forms: Schedule D, Form 4562, and Schedule K-1.

  Prepare a memo outlining the tax effects

Prepare a memo outlining the tax effects of every alternative and recommend the strategy that may minimize their total tax liability.

  Discuss the accessibility/deductibility

NML Ltd is a public gold mining company that is exploring for gold in the Ballarat and the Bendigo region. Geoff is the managing director and he seeks your advice as to the deductibility of the following expenses which were incurred prior to 30 June ..

  Prepare a memorandum that outlines the tax consequences

Prepare a memorandum that outlines the tax consequences of each of the three alternative acquisitions

  Journal entry - credit to purchases account

A purchase discount was recorded as a credit to purchases account- the remainder was properly recorded. This error will cause

  Determine rondo''s tax basis in his r&l stock

Determine Rondo's tax basis in his R&L stock if R&L is formed as a C business?

  What are the tax consequences for cfo

What are the tax consequences for CFO and for the ABC Co.

  How the passage of a state tax bill same

Describe how the passage of a state tax bill is same to the passage of a Federal law.

  From original question journal entries

all have a specific name that coordinates with a specific account- from who shares were purchased/which company or who/which company sold shares.

  What is the abc partnerships required tax year

What is the ABC Partnerships required tax year and Do the allocations have Substantial Economic Effect?

  Calculate carolines taxable income

Calculate Carolines taxable income

  Advise justin of the capital gains tax implications

Advise Justin of the capital gains tax implications if he sells these assets now

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd