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The following statements regarding capital assets is not true?
1) General capital assets purchased or constructed with governemental fund resources are recorded in the governmental activities general leger at the government wide level.
2) Fiduciary funds do not account for property, plant, and equipment within the fund financial statements,
3) Because governemental funds account only for current financial resources, these funds do not record capital assets acquired by the funds.
4) Proprietary funds routinely account for capital assets used in their operations within the fund financial statements.
the maturity risk premium for all bonds is found with the formula MRP = (t - 1) x 0.1%, where t = number of years to maturity. What is the liquidity premium (LP) on Niendorf s bonds?
Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.5% of accounts receivable. a) Prepare the Decemb..
Compute the total, price, and quantity labor variances for Mason Company for November.
What, if any, is the ethical issue involved in case and is the financial vice president acting improperly or immorally?
Alternative methods exist for the measurement of the pension obligation (liability). Which measure requires the use of future salaries in its computation?
Richman Company for $30,000,000. The following details pertain to the contract: Percentage of completion Estimated total cost of contract Gross profit recognized to date At December 31, 2007 25% $22,500,000 1,875,000 At December 31, 2008 60% $25,0..
Assume that COGS is a variable cost and that operating expenses are a fixed cost. What is budgeted operating income for 20X9?
East, Inc. had beginning inventory of $10,000, purchases of $25,000, and ending inventory of $5,000. What is East's cost of merchandise sold?
dan simms is the president and sole shareholder of simms corporation. dan plans for the corporation to make a
determine taxable income in each of the following instances. assume that the corporation is a c corporation and that
The company actually worked 105,000 machine-hours and incurred $540,000 in manufacturing overhead costs. By how much was manufacturing overhead underapplied or overapplied for the year?
the landers corporation needs to raise 1.60 million of debt on a 20-year issue. if it places the bonds privately the
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