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A city ordinance provides that no money shall be spent for any purpose without the prior approval of the city council. In approving the budget for the year the council had authorized spending $ 1,300,000 for road maintenance. Late in the year after the city had spent virtually the entire $ 1,300,000, a major storm washed out portions of several roads leading to the elementary school. The school was inaccessible and the mayor wanted to enter into an emergency contract to repair the roads. City engineers estimated that the cost of the repairs would be about $ 350,000. If the city entered into such a contract, the total amount spent on road maintenance for the year would be greater than the amount authorized. Recognizing the need for prompt action the mayor immediately entered into the contract without seeking prior city council approval. Comment on the legal financial and accounting systems implications of this scenario.
J&J sells its toothpaste to a wholesaler
Shopkeeper sale this good on breakeven. Calculate the no of Unit sale in two different categories This is a trading Company.
sales of 746700 cost of goods sold of 603200 and inventory of 94300. how long on average does it take the firm to
cisco inc. reported the following in its income statement for the year ended july 26 2008 basic earnings per share of
wind fall a manufacturer of leaf blowers began operations this year. during this year the company produced 10000 leaf
some managers prefer to use cost rather than market price in controlling transfers between divisions. if cost is to be
watertoys corporation manufactured a variety of products in its factory. data for the most recent months operations
a copy machine acquired on march 1 2011 with a cost of 705 has an estimated useful life of 4 years. assuming that it
1.michelle purchased her home for 150000 and subsequently added a garage costing 25000 and a new porch costing 5000.
Dr. Bueller had recently overheard a few of his colleagues discussing possible investments in the international marketplace. Wanting to explore all of his potential investment options, he has asked you to explain the various aspects of investing in f..
White corp, which had earnings and profits of $100,000, distributed a parcel of land to its sole shareholder, doug. the property had a FMV of $95,000 and an adjusted basis of $55,000. Doug assumed a $60,000 liability associated with the land. what is..
Flood damage in the Brush Creek area averages $7,000 annually. Civil engineers with floodplain expertise have designed a series of small dams to restrain the flow. They will cost $25,000 and will involve annual maintenance charges of $500.
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