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Question: (Accounting for salaries) A federal agency receives a separate allotment to finance the salary costs of its program. The allotment is sufficient to cover salaries earned in the last month of the fiscal year but paid early in the next fiscal year. The account Allotments-realized resources has a credit balance of $300,000. The agency maintains budgetary control by means of a vacancy control system. Make journal entries to record the following transactions and events:
1. A disbursement schedule is sent to Treasury requesting salary checks-$275,000.
2. Treasury notifies the agency that payment was made.
3. The agency accrues salaries of $18,000 at the end of the fiscal year.
4. The agency accrues $20,000 for unused vacation leave. Budgetary resources for vacation leave are provided when leave is actually taken.
grisham products expects the following sales of its single product
Mr. and Mrs. Prinze are evaluating an investment in undeveloped land. The year 0 cost is $100,000, and they can borrow $60,000 of the purchase price at 8 percent. They will pay interest only in years 1 through 5.
A student remarks: "I don't think the idea of marginal revenue product really helps explain differences in wages. After all, a ticket to a baseball game costs much less than college tuition, yet baseball players are paid much more than college pro..
Equivalent units are calculated by
McGwire, again. Look once more at data of home runs hit by Mark McGwire during his 16-year career as seen in Exercise 34. a) Would you use the mean or the median to summarize the center of this distribution? Why?
Claude Chabot Bicycle, a small bicycle retailer located in Cookshire, was created 25 years ago by Mr. Chabot, a keen cyclist who wanted to offer both high-grade and low-grade bicycles in his home town. Mr. Chabot has a bachelor degree in sport stu..
What is the income reported by Regal during 2012 pertaining to the Air investment?
Paid installers and other employees a total of $82,000 for salaries for the year. Assume the Social Security tax rate is 6 percent and the Medicare tax rate is 1.5 percent.
the mountain spring water company has two departments. purifying and bottling. the bottling company received 62000
the accountant for robinson company is preparing the companys statement of cash flows for the fiscal year just ended.
Further checking shows the bank statement figure is the correct one. Prepare a bank reconciliation for August 2004.
May return the computers and avoid paying for them because the contract was void under the theory of commercial impracticability.
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