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The capital project fund had just been created to account for resources received and expended for the construction of a new health center. Funding for the health center is being provided by a $5,000,000 general obligation bond sale, a direct transfer from the general fund and a federal grant. The grant terms provided that the federal government will pay only up to 20% of all project expenditures incurred, unused funds must be returned at the completion of the project. Required elements Journalize the requested transactions for the capital project fund, debt service fund, general fund. Prepare closing entries for the capital projects fund. Provide the missing values for the capital projects and debt service funds financial statement. adopted project budget 3000000 general fund operating budget
5000000 general obligation bonds, 2000000 estimated federal grant, 10000000 appropriations record the adoption of the capital project fund budget.
Residual value = Rs.25, 000 Sale price = Rs.40, 000 Rate ofdepreciation = 40% What will be book value of machine after fouryears using straight line method?
Linda wants to use the $236,100 proceeds ($168,000 + $19,000 + $49,100 = $236,100) from sale of the securities to open a retail store under a 12-year franchise contract.
Indicate the affect of the misstatement on Gentry Supplies Company's balance sheet and income statement for the year ended December 31, 2009.
seat covers produced amp sold 1500 units 1700 units 2100 units total costs variable costs 15750 fixed costs per year
Sandra Sherman incorporates her apartment building. It has a basis of $50,000, a value of $150,000, is subject to a mortgage of $70,000 and has a depreciation recapture potential of $12,000. If Sandra receives stock worth $80,000, she will recogni..
bohemian links inc. produces sausages in three production departments-mixing casing and curing and packaging. in the
on january 2 2011 jansing corporation acquired a new machine with an estimated useful life of five years. the cost of
boyles home center a retailing company has two departments bath and kitchen. the companys most recent monthly
Rancor Inc. had a per-unit conversion cost of $2.50 during April and incurred direct materials cost of $100,000, direct labor costs of $75,000, and overhead costs of $45,000 during the month. How many units did they manufacture during the month?
If I were to make muffins and the blueberries for the muffins cost 2.05 per bag and I use 11 blueberries per muffin but then found out that people liked 15 berries per muffin and I found a store that sold 400 berries per bag at 1.89 per bag. How d..
Based on your analysis, what does this tell you of Landry's financial performance (consider the changes between years)?
Target Costing. Baker Plumbing Fixtures is developing a preplumbed acrylic shower unit. The team developing the product includes representatives from marketing, engineering, and cost accounting.
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