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The Star Exploration Agency, a unit of the Space Department, was established by Congress to being operations at the beginning of fiscal year 2014. Following are the agency's transactions during October, its first month of operations: October 1 Congress passed and the president approved a $1,000,000 appropriation for this agency. October 1 Of the amount appropriated, $950,000 was apportioned by the OMB. October 1 The Space Department allotted the agency $100,000 to carry out its October operations. October 1 Purchase requests were made for materials and supplies, estimated to cost $88,000. October 4 Purchase orders were placed for materials and supplies, estimated to cost $85,000. The other requests (for $3,000) were cancelled. October 10 Materials and supplies previously ordered were received, together with invoices for $80,000. All items received were placed inventory. The remaining items (for $5,000) will be received at a later date. October 14 A disbursement schedule was sent to the Treasury, requesting that it pay invoices amounting to $80,000. October 24 The Treasury informed the agency that it had paid invoices amounting to $76,000. October 31 An inventory count showed that $15,000 of materials and supplies were on hand. The rest was used in operations. Use the preceding information to do the following: a. Prepare journal entries to record the events of October. b. Prepare a preclosing trial balance. c. Prepare the following month-end statements: 1. Balance sheet 2. Statement of net costs 3. Statement of changes in net position 4. Statement of budgetary resources
Assuming a 30-day period in November, calculate November's interest. Also, calculate the interest Nancy would have paid with: a) the previous balance method, b) the adjusted balance method.
Write a 200- to 300-word response to the problem. In addition, include your analysis of indicators such as earnings per share, operating income, and comprehensive income.
Prepare the journal entries for each transaction above regarding the conversion of the bonds (using book value method), and the retirement of the bonds.
discuss the rules of debit and credit as applied to each of the account types that would appear on a companys balance
He has orally assured Terri that he will pay off the account receivable within the next year. Terri reported the $100,000 in the same manner on the preceding year's balance sheet.
abc company has office furniture that cost 40000 an estimated life of 10 years and a 4000 salvage value. as of january
Sarah transfers property with an $80,000 adjusted basis and a $100,000 FMV to Super Corporation in a Sec. 351 transaction. Sarah receives stock with an $85,000 FMV and a short-term note with a $15,000 FMV. Sarah's basis in the stock is:
for many years diehl company has produced a small electrical part that it uses in the production of its standard line
Record the events in general ledger accounts under an accounting equation. In the last column of the table, provideappropriate titles for the Retained Earnings Amounts.
a company makes lawn ornaments. the following cost quantity and time standards have been set for 2014 direct materials
pool companys variable expenses are 32 of sales. pool is contemplating an advertising campaign that will cost 42500. if
Journalize all entries for Synergy Bank related to the note for 2012 and 2013 - How much in total would Kelsing pay the bank if she pays off the note early on April 30, 2013?
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