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Amber City borrowed $1,000,000 secured by a 5-year mortgage note. The cash from the note was used to purchase a building for vehicle and equipment maintenance. Show how these two transactions should be recorded in the General Fund and governmental activities general journals. Indicate whether the following revenues would most likely be classified as program revenues or general revenues on the government-wide statement of activities. 1)Unrestricted operating grants that can be used at the discretion of the city council. 2)Capital grants restricted for highway construction. 3)Charges for building inspections. 4)A special assessment for snow removal. 5)Fines and forfeits. 6)Motor vehicle fuel taxes restricted for road repair. 7)Unrestricted investment earnings.
On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $175,000. Fogel should record, as a result of this conversion, a :
Partnership income-sharing agreement
Calculate the after-tax cost of each payment assuming she has a 25 percent marginal tax rate. $800 to reimburse the cost of meals incurred by employees while travelling for the business $1,200 for football tickets to entertain out-of-town clients ..
Examine duplicate copy of shipping documents for evidence that quantities were verified before shipment.
The Securities and Exchange Commission (SEC) is empowered to do the following a. Set reporting standards for firms with publicly traded debt or equity securities b. Bring enforcement actions against company executives and auditors for accounting rela..
If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then:
What is the minimum amount of revenue that each of these segments must generate to be considered separately reportable?
What is the legal capital of the corporation? At what average price per share has the preferred stock been issued? How many shares of common stock have been issued?
Assume that there are four weeks per month. In rough terms, the hourly wages earned by workers in the garment factory described in the news article is:
The income statement of a proprietorship for the month of December indicates a net income of $75,000. During the same period, the owner withdrew $100,000 in cash from the business for personal use.
MixRecording Studios purchased $7,800 in electronic components from TechCom. MixRecording Studios signed a 60-day, 10% promissory note for $7,800. TechCom's journal entry to record the sales portion of the transaction is:
EZ, Inc., reports pretax accounting income of $400,000, but due to a single temporary difference, taxable income is $500,000. At the beginning of the year, no temporary differences existed. EZ is subject to a tax rate of 40%.
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