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A fire station that the city of plenty constructed many years ago is sold and is accounted for as an other financing source. Where should entries be made?
a. general fund only
b. general fund and capital projects fund.
c. general fund,capital projects fund and general fixed asset group
d. special revenue fund.
Kaiser's Kraft Korner sells a single product. 7,000 units were sold resulting in $70,000 of sales revenue, $28,000 of variable costs, and $12,000 of fixed costs. The number of units that must be sold to achieve $60,000 of operating income ??
Abby and Co. reported a retained earnings balance of $500,000 at December 31, 2010. In September 2011, Abby and Co. determined that insurance premiums of $90,000 for the three-year period beginning January 1, 2010, had been paid and fully expensed..
Is there a difference between financial statement fraud and other types of fraud? How does the definitions differ (if they do)? Should there be a distinction between the two or not?
George plans to sell his customers a special for a ski package weekend. He is able to purchase the package from the providers for $175 each. The ticket packages will be sold for $225 each and the ski resort and lodging facilities intend to reimbur..
They agree to salaries of $12,000 and $18,000 for Singer and McMann respectively and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will McMann‘s share of the income be if the income for ..
If Dizbert Company concluded that an investment originally classified as available for sale would now more appropriately be classified as held to maturity, Dizbert would:
For each of the following items indicate, whether the individual taxpayer must include any amount in gross income.
Meca Concrete purchased a mixer on January 1, 2007, at a cost of $45,000. Straight-line depreciation for 2007 and 2008 was based on an estimated 8-year life and $3,000 estimated residual value. Compute depreciation for 2009 and 2010.
You are the manager of an accounting department and would like to hire another managerial accountant to focus on internal accounting. The CEO is not convinced that a managing accountant position is needed. Prepare a 1-2 page memo for the CEO on the f..
What would be the proper entry for the following transaction?
List some of the major adjustments required when converting from fund financial statements to government-wide statements.
Calculate the amount of the corporation's loss that may be deducted by Loraine on her 2009 tax return?
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