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Following are a number of unrelated transactions for the Village of Centerville, some of which affect governmental activities at the government-wide level. None of the transactions has been recorded yet.
Required- Prepare in general journal form the necessary entries in the governmental activities and appropriate fund journals for each transaction. Explanations may be omitted. For each entry you prepare, name the fund in which the entry should be made.
1. Four months prior to year-end, 6 percent special assessment bonds totaling $500,000 were issued to fund a streetlight improvement project in a local subdivision. The bonds are secondarily backed by the village. The first $25,000 installment will be due from property owners six months after the initial bond issuance, but no debt payments are due in the first year.
2. Marketplace equity securities held by the debt service fund increased in value by $10,000 during the year.
Illustrate what is the minimum ownership percentage an owner must have in the entity to avoid gain recognition when property is contributed?
problem 1 balance sheetsdecember 31 20x3nbspgreen towerltd.blue loftltd.assetsnbspnbspcurrent assetsnbspnbspnbspnbsp
Which of the following is an example of a variable cost and Which one of the following statements best explains why companies want to distinguish between direct and indirect costs
The Enron debacle created what one public official reported was a "crisis of confidence" on the part of the public in the accounting profession. List out parties who you believe are most responsible for that crisis. Briefly justify each of your ch..
As the Chief Managerial Officer of Aangamm World International Limited undertake your assigned task regarding the divisional issues at Rigs Auto Parts Transport Limited.
To construct the first cash flow (cf1) at the very minimum, the new revenue from your strategy(s) must be discounted back to the present value by calculating EBIT and that figure will be your cfn for each year.
Determine the net operating profit or loss for the business. Provide detailed assumptions to support each line item in your Proforma P&L Statement.
Describe advantages and disadvantages of organizing your scuba diving school as a: 1. Sole proprietorship 2. Corporation, and give your opinion about which form of organization would be best.
Show entries to record the selected transactions described Issued $3,250,000 of 10-year, 8% bonds at 97.
purchased merchandise from abilene company for 6000 under credit terms of 110 n30 fob destination invoice dated august
Undersymington Company has an opportunity to invest in a machine that would cost $28,000, and that would produce cost savings of $8,000 each year for the next five years. The machine has zero salvage value. What is the internal rate of return?
The following is the unadjusted trial balance for James Trading Pty Ltd as at the close of the financial year ended 30 June 2011. In addition the following entries had not been applied to the general ledger.
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