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Prepare entries in the general fund to record the following transactions and events:
1. Estimated revenues for the fiscal year were $250,000 and appropriations were $248,000.2. The tax levy for the fiscal year, of which 99% is believed to be collectible, was $200,000.3. Taxes collected were $150,000.4. A short-term loan of $15,000 was made to the special revenue fund.5. Orders for supplies were placed in the amount of $18,000.6. The items ordered in transaction 5 were received. Actual cost was $18,150, and vouchers for that amount were prepared.7. Materials were acquired from the stores fund (an internal service fund) in the amount of $800 (without encumbrance).8. A $5,000 payment (transfer) was made to the debt service fund.9. A cash payment of $15,000 was made for the purchase of equipment.10. Licenses were collected in the amount of $3,000.11. The balance of taxes receivable became delinquent.12. Delinquent taxes of $30,000 were collected before year-end. The remaining net realizable value of delinquent taxes is expected to be collected uniformly over the first four months of the next fiscal year.
sleney company applies overhead on the basis of direct labor dollars using a rate of 1.65 per labor dollar. how much
Which of the following represents the material price variance? The materials price variance for an item is the difference between its actual price and its standard cost.
Assume that the following amounts are known for Colten Company for the current year:
A 2,000-bit message is used to generate a 256-bit hash. One the average, how many other messages could be expected to generate the same hash value? What does this tell us about the length of a hash as compared to the length of the message?
match each term with the correct definition.a.contingencyb.discountc.premiumd.capital leasee.stated ratef.effective
When changing the estimate of the useful life of an asset, should depreciation expense for all the previous years be recalculated? If not, how do you account for a change in this estimate?
fleming fleming and johnson a local cpa firm rpvided the following data for individual returns processed for march
Mystic Pizza Company purchased a patent from Prime Pizza Plus on January 1, Year 1 for $72,000. The patent has a remaining legal life of nine years.
In a period of increasing prices, why would the company tax accountant prefer the last in, first out method while the CEO would prefer first in, first out? Why is this important?
Explain how you would analyze cost information within a business. Explain what methods you would use to reduce costs and enhance value within a business
You have been hired by the CIO of a medium-sized retail company, Honolulu Originals Inc., to do an analysis on an IT investment. Honolulu Originals sells men's and women's work and casual attire based on Hawaiian designs. It also sells fashion a..
on january 2 2015 prentice co. bought a trademark from royce inc. for 320000. its unamortized cost on royces books was
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