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The budgeted and actual revenues and expenditures of Seaside Township for a recent year (in millions) were as presented in the schedule that follows: 1. Prepare journal entries to record the budget.
2. Prepare journal entries to record the actual revenues and expenditures. Assume all transactions resulted in increases or decreases in cash.
3. Prepare journal entries to close the accounts.
4. Determine the net change in fund balance. Does it equal the net change in actual revenues and expenditures? Revenues: Budget Actual Property taxes 7.5 7.6 Sales taxes 2.1 2.4 Other revenues 1.6 1.5 Total revenues 11.2 11.5 Expenditures: Wages and salaries 6.2 6.1 Supplies 3.1 3.0 Other expenditures 1.3 1.2 Total expenditures 10.6 10.3 Increase in fund balance 0.6 1.2
Prepare an absorption costing income statement and calculate the sales mix variance
What should John do? Describe how you would deal with his ethical dilemma (considering the IMA code of ethics in your response).
Compute the minimum pension liability, if any, for 2008, and prepare any necessary journal entries to record the minimum liability - Computing and Recording Minimum Pension Liability
Sanjay is single and has taxable income of $13,000 without considering the sale of capital asset in November of 2015 for $15,000. The asset was purchased six years earlier and has a tax basis of $5,000. The tax liability applicable to only the capita..
From the data determine the breakeven level of output and sales at which level of production total revenue is equal to total cost
What is a non-qualified stock option, how and why is it used to compensate executive management? You may use other sources, however, you must reference and cite them. Also, remember to reference and cite the textbook.
Evaluate the maximum depreciation expense
What is meant by the term cost driver? What is a volume-based cost driver? Describe the flow of costs through a product-costing system. What special accounts are involved, and how are they used?
Record the year-end adjusting journal entry for patent amortization on December 31, 2006. Determine the patent book value on December 31, 2006.
Now let's model the drop in the cost of media associated with the Internet as a drop in the cost of capital to 1. What is the new cost of producing 100 units?
Identify any tools such as regression analysis or CVP that will support the decision making process related to the question. If needed, use calculations or lists
question 1. securities donated to an npo could be recorded at thea. donors recorded amount.b. fair market value at the
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