General fund by a debit

Assignment Help Accounting Basics
Reference no: EM13126762

Liabilities incurred, such as for accrued payroll, but still unpaid at year-end, should be recorded in the General Fund by a debit to which of the following accounts?

Reference no: EM13126762

Questions Cloud

Determination of beneficiarys income : Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.
Calculate the fraction of methyl isonitrile molecules : the activation energy for the isomerization of methyl isonitrile is 160 kJ/mol. Calculate the fraction of methyl isonitrile molecules that has an energy of 160.0 kJ or greater at 500 K.
Create he journal entry to record the purchase of treasury : Create he journal entry to record the purchase of treasury stock by the cost method. 5,000 shares of treasury stock are reissued at $33 per share. Prepare the journal entry to record the reissuance by the cost method.
Mean and standard deviation of total number of strikes : The Ntional Lightning Detection Newtowk uses automatic sensors to watch for lightning in areas of 10 square kilometers. What are the mean and standard deviation of the total number of lightning strikes observed?
General fund by a debit : Liabilities incurred, such as for accrued payroll, but still unpaid at year-end, should be recorded in the General Fund by a debit to which of the following accounts?
Tax return for the current year : How much income must Barry report on his tax return for the current year? What is the character of income?
Determine general and administrative overhead : Determined that general and administrative overhead was $246 million. Transferred 70 percent of the materials purchased to jobs (work) in process. Completed work on 55 percent of the jobs in process. Costs are assigned equally across all work in proc..
Find probability the consumer group-s sample has a mean life : Assuming the manufacturer's claim is true, what is the probability the consumer group's sample has a mean life of 52 or fewer months?
Present value of the investment opportunity : The expected life and salvage value each are four years and $15,000 respectively. Lake Shuttle has an average cost of capital of 14%. A. Calculate the net present value of the investment opportunity.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Diluted eps and securities

Sabonis Corporation reported net income of $400,000 in 2008 and had 50,000 shares of common stock outstanding throughout the year.

  Accounting problems

Three years ago a piece of machine was purchased for $10,000. Assuming an eight-year life and straight-line depreciation, financial statements for the third year will show:

  Computing pvifa

The cost associated with maintaining rural highways follows a predictable pattern. There're basically no costs for the first three years, but thereafter maintenance is needed for restriping, weed control, light replacement, shoulder repairs, etc.

  Determining the units of product in inventory

The company's net income for the year was $12,000 higher under variable costing than under absorption costing. Given these facts, the number of units of product in inventory at the beginning of the year must have been:

  Separating overhead cost from selling and admin costs

Determine the total direct manufacturing cost. Briefly explain the difference between manufacturing overhead costs and selling and administrative costs. Calculate both the total manufacturing overhead cost and the total selling and administrative cos..

  Amount of accrued interest payable

The amount of accrued interest payable that should be shown on the December 31, 1998 balance sheet is ?

  Assets qualify for interest capitalization

What assets qualify for interest capitalization? What assets do not qualify for interest capitalization?

  Accounting for donation

Gridiron University is a private university. A successful alumnus has recently donated 1,000,000 to Girdion for the purpose of funding a "center for the study of sports ethics."

  Cost information relating to single product organisation

The following production and total cost information relates to a single product organisation for the last three months: Month Production Total cost units £ 1 1,200 66,600 2 1,900 58,200 3 1,400 68,200

  Exchange of lands-taxation

Lab Kennels, Inc. and Wolman Developers have agreed to exchange two parcels of land and each will assume the other's mortgage on the parcel acquired. Lab owns 500 acres within city limits that has a value of $750,000 and a basis of $300,000.

  Important characteristics of generally accepted accounting

Explain the important characteristics of Generally Accepted Accounting Principles or standards. Why are these characteristics of GAAP important?

  Break even sales in units and cost volume profit chart

Aspen Co. expects to maintain the same inventories at the end of 2008 as at the beginnign of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various depart..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd