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State law provides that all cash not immediately needed by school districts to finance current operations be forwarded to the counties in which the school districts are located. The law also requires that county treasurers place these resources in a separate fund and invest them on behalf of the school districts. Because Contra County is experiencing financial problems and to provide resources to the county the county treasurer tells the county administrator that he plans to invest the school district funds in junk bonds, yielding 9 percent interest. He will credit the normal rate of return (5 percent) to the school districts and the remaining 4 percent to the county itself. Explain the position the county administrator should take on the treasurer proposal.
January $25,000; March, $5,000. For the fiscal year ended 12/31/08, what amount should be recognized as property tax revenues related to the 2007 levy on the governmental fund financial statements?
If Heather's AGI is $100,000 before considering the effects of the fire, determine her itemized deduction as a result of the fire. Also determine Heather's AGI.
1.under gaas the auditor can amend the language of the icfr audit report. the auditor can issue an adverse opinion on
At the end of Year 1, Cortex Company failed to accrue interest revenue of $3,200 that it had earned, but not received on an outstanding note receivable. Instead, it recorded the interest revenue in Year 2.
On January 2, 20X1, Bruce Greene invested $10,000 in the stock market and purchased 500 shares of Heartland Development, Inc. Heartland paid cash dividends of $2.60 per share in 20X1 and 20X2; the dividend was raised to $3.10 per share in 20X3.
explain how a gain or loss on the disposal of a long-term asset is calculated. how do gains and losses differ
discuss ways to ease the transition into management for the majority of new managers including at least one innovative
Arantxa Corporation has outstanding 20,000 shares of $5 par value common stock. Prepare Arantxa's journal entries to record these transaction using the cost method.
jackson company wants to sell a building that is no longer needed and consolidate some of their facilities. they paid
Sam, a single individual with a salary of $40,000, paid the following expenses during the year: Analyze the above expenses and determine which ones are deductible for AGI. Please support your position
identifying and correcting internal control suppose a car dealership is opening a regional office in texas. linda
The preferred stockholders were paid $20,000 for each of 2010 and 2009 years respectively. What is the amount of dividends common shareholders will receive in 2011?
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