Journal entries for government based on production

Assignment Help Accounting Basics
Reference no: EM13142403

a. On July 25, 1981, office supplies estimated to cost $2390 were ordered for the city's manager's office of Bullersville. Bullersville, which operates on the calender year, does not maintain an inventory of such supplies.

b. The supples ordered July 25 were received on Aug 9, 1981, accompanied by an invoice for 2500.


Prepare Journal Entries for the government based on the production of fund-based financial statements. Than prepare JE entries in anticipation of preparing governement-wide financial statements. Before each JE for fund-based reporting, indicate the fund in which the JE will be recorded.

Reference no: EM13142403

Questions Cloud

Systematic influences : Systematic influences on personality development by cultural factors such as urban living
Prepare a schedule of cost of goods manufactured for company : Prepare a schedule of cost of goods manufactured for the company for the month
What differences in the antibodies : What differences in the antibodies produced following immunization with the inactivated virus contained int he " Flu Shot" vs. the attenuated virus contained in the " flu mist" vaccines do you expect? Which would you recommend for individuals who ..
How are gangs like a business? : How are gangs like a business? I need it with a blueprint and good topic sentences and a structure,
Journal entries for government based on production : Prepare Journal Entries for the government based on the production of fund-based financial statements. Than prepare JE entries in anticipation of preparing governement-wide financial statements.
Would a merger or acquisition affect mr jones ability : Would a merger or acquisition affect Mr. Jones’ ability to change Smithon’s fiscal year-end to a calendar year-end? Could Smithon be converted to an S corporation?
Analyze changes in ford : Analyze changes in ford based on the turbulent economic conditions today and how the organization has changed operations.
Write out the reaction equilibria for the sequential : a. Write out the reaction equilibria for the sequential deprotonation of tyrosine and the equations for the corresponding Ka for each. (Hint: There should be three reaction equilibria.)
Adjustment for circulation expenditures : Since the income of the business is small, Sherry decides to capitalize the expenditures and to amortize them over 3 years for regular income tax purposes. The AMT adjustment for circulation expenditures for the first year of operations is:

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Calculate amount of cash and marketable securities

Using Excel show all formulas for following: Firm has current assets of 100 million and current liabilities of 50 million and goes belly-up.

  Prepare a schedule to show the equity income

Prepare a schedule to show the equity income Tinker should recognize for 2011 related to this investment.

  Machine internal rate of return

The machine will have a 12-year useful life and no salvage value. Instructions (a) Calculate the cash payback period. (b) Calculate the machine's internal rate of return. (c) Calculate the machine's net present value using a discount rate of 10%.

  Calculate the payback period for the proposed investment

Rieger International is attempting to evaluate the feasibility of investing $ 95,000 in a piece of equipment that has a 5- year life. The firm has estimated the cash inflows associated with the proposal as shown in the table at the right. The firm..

  What is its earnings per share

Offshore Ale Company has earnings available to common stockholders of $2 million and has 500,000 shares of common stock outstanding. What is its earnings per share (EPS)?

  Problem regarding debt investments

Debt investments are recorded at the : a. face value of the bonds purchased. b. face value of the bonds purchased plus interest. c. price paid for the bonds plus interest. d. price paid for the bonds plus brokerage fees

  Problem regarding vertical analysis

Vertical analysis is used to compare a balance sheet number from a previous period with an income statement number for the current period.

  University to avoid accounting recognition

Which of the following is not a condition that would permit a public college or private college or university to avoid accounting recognition of the value of its collections of art, historical treasures, and similar assets?

  Basics of financial statements

The bonds were properly carried at $2,134,000 upon issue. On its December 31, Year 1 financial statements, Novastar Corporation would display the following balances:

  Prepare a sales budget for the third quarter of the year

Keep-it-Hot Inc. manufactures popular thermoses. On June 30, the company had 1,000 thermoses in inventory. Each thermos sells for $8.00. The company's policy is to maintain a thermos inventory equal to 10% of next month's sales.

  John-bob at risk for partnership

John-Bob's share of losses from Partnership Z during 2010 was $60,000. How much is John-Bob at risk for Partnership Z on January 1, 2011?

  How much should stockton corporation capitalize as the cost

Stockton Corporation purchased equipment for $32,000. Stockton also paid $400 for freight and insurance while the equipment was in transit. Sales tax amounted to $240. Insurance, taxes, and maintenance the first year of use cost $1,000. How much s..

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