Solution-In which fund should this asset be reported

In which fund should this asset be reported

Assignment Help Cost Accounting

Reference no: EM13506609

A citizen of the City of Townsend gives it a gift of $22,000 in investments. The citizen requires that the investments be held but any resulting income must be used to help maintain the city's cemetery. In which fund should this asset be reported?

a. Special Revenue Funds.
b. Capital Projects Funds.
c. Permanent Funds.
d. General Fund.

Reference no: EM13506609

Questions Cloud

Find the magnitude of the electric field inside capacitor : a parallel plate capacitor consisting of two square plates has a potential difference V0 across the plates, and separated by a gap of 1.1mm. what is the magnitude of the electric field inside the capacitor

Under what condition should this activity be recorded : A city constructs curbing in a new neighborhood and finances it as a special assessment. Under what condition should this activity be recorded in the Agency Fund?

What amount of revenue should be recognized : During the first year of this program, the town spent $14,000 and applied for reimbursement. What amount of revenue should be recognized?

What is the current bond price : Bond Prices [ LO2] Ninja Co. issued 14- year bonds a year ago at a coupon rate of 6.9 percent. The bonds make semiannual payments. If the YTM on these bonds is 5.2 percent, what is the current bond price?

In which fund should this asset be reported : A citizen of the City of Townsend gives it a gift of $22,000 in investments. The citizen requires that the investments be held but any resulting income must be used to help maintain the city's cemetery. In which fund should this asset be reported?

Compute the beginning balance in the cash account : Compute the beginning balance in the cash account and how much cash was provided by operating activities

How to correctly interpret statistical measures : One objective of this course is learning how to correctly interpret statistical measures.

Evaluate the ph in the solution formed by adding naoh : Calculate the pH in the solution formed by adding 10.0 mL of 0.050 M NaOH to 40.0 mL of 0.0250 M benzoic acid (HC7H5O2, Ka=6.3X10-5

Which of the following statements is true : Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4:3:2:1 basis, respectively. They are beginning to liquidate the business.

User Account

All Pages

In which fund should this asset be reported

Reference no: EM13506609

Reference no: EM13506609

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT