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Max Maxfield was just hired by your town as a new controller. He has a love for golf, and was able to convince the town's people to provide city funds for the construction of a new golf course (Max gets free golf year round).
The city funds the construction of the golf course by issuing $100 million in general obligation bonds. However, it accounts for the golf course in an enterprise fund, and it intends to repay the debt from green fees. Should the city, in its government-wide statement of net position, report the debt as a governmental activity and the golf course as a business-type activity? Alternatively, should it report both the debt and the golf course in the same category of activity? If so, then which one?
bargain wholesalers sell pet supplies to retailers including pet world supplies. bargain wholesalers uses perpetual
hazard company is considering the acquisition of a machine that costs 375000. the machine is expected to have a useful
taconite inc. has three divisions bovey babbit and hoyt. following is the income statement for the previous
You just received notice that you have won the $2 million Indiana Lottery. You will receive $100,000 per year for 20 years with your first payment received today.
Gunk Goblin sells vacuums and just launched a policy where customers have the right to return a vacuum during a three-year period following purchase.
on january 1 2010 metco inc. had issued an outstanding 574600 shares of 2 par value common stock. on march 15 2010
it costs lannon fields 28 of variable costs and 12 of allocated fixed costs to produce an industrial trash can that
a flower shop makes a large sale for 1000 on november 30. the customer is sent a statement on december 5 and a check is
during its first year of operations the mccollum corporation entered into the following transactions relating to
Under the lease agreement, a security deposit of $15,000 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 10% per year. What amount will the company receive at the time the lease expires?
The actual cost for plane operating costs in September was $214,430. The activity variance for plane operating costs in September would be closest to:
the thompson corporation a manufacturer of steel products began operations on october 1 2011. the accounting department
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