The trial balance shows all the information

Assignment Help Accounting Basics
Reference no: EM13872464

The City of Breukelen maintains a rapid transit system, which is accounted for in a proprietary fund called Breukelen RTS. The following excerpt from the trial balance shows all the information needed to prepare an operating statement. Therefore, prepare a statement of revenues, expenses, and changes in fund net position for the Breukelen RTS for the year ended December 31, 2012, using the appropriate format.
Revenues from fares ............ $ 3,150,000
Train operating expenses........... 2,430,000
Track and train maintenance expenses.... 565,000
Depreciation ............... 325,000
Investment income ............ 50,000
Interest expense on long- term debt..... 320,000
Cash subsidy from the City of Breukelen .. 500,000
Net assets, January 1, 2012 ........... 7,430,000

Reference no: EM13872464

Questions Cloud

How you would measure growth in sports marketing industry : Provide 3 examples of how you would measure growth in the sports marketing industry. What evidence do you have that the number of people participating in sports is growing
During the course of clearing the land : At December 31, 2009, certain accounts included in the property, plant, and equipment section of the Townsand Company's balance sheet had the following balances:
Define the strategic sports marketing process : Define the strategic sports marketing process and discuss the various elements in the strategic sports marketing process
Did matt make a good purchase : The beta of ACE stock is 0.98 and the market''s risk-free rate is 4.0%. no dividends were paid. based on Jensen''s measure, did Matt make a good purchase
The trial balance shows all the information : The City of Breukelen maintains a rapid transit system, which is accounted for in a proprietary fund called Breukelen RTS. The following excerpt from the trial balance shows all the information needed to prepare an operating statement.
What is probability that selected homes have security system : What is the probability all three of the selected homes have a security system?
Curvature radius r of the point trajectory : Find how the curvature radius R of the point's trajectory and the total acceleration w depend on the distance covered s.
Stratsim simulation marketing strategy : Paper about 6 pages about StratSim Marketing Simulation Game.( 1 pages for each decision period)
General fund statement of revenues, expenditures, and change : Prepare the county, General Fund statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2012. Consider the proceeds from the sale and leaseback of an office building as a special item.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Management believes that 5% of the units will be defective

On December 1, Diaz Company introduces a new product that includes a one-year warranty on parts. In December, 1,000 units are sold.

  Flow of goods through the accounting records

Under the LIFO method, the flow of goods through the accounting records will:

  The corporation elects to record monthly property tax

The Rosen Corporation was formed on December 12, 2009.

  The thomas company now has 12000 his is what they paid for

the thomas company now has 12000 his is what they paid for the inventory of obsolete inventory stock. this inventory

  Using the total cost concept determine the cost per unit

display labs inc recently began production of a new product flat panel displays which required the investment of

  Identify several of the variable mixed and fixed costs that

polaris offers extended service contracts that provide repair and maintenance coverage over its products. as you

  Interest revenue would be an example of a

Which account would not appear on a post-closing trial balance?

  Assume the partnership income-sharing agreement calls for

aikman beginning capital 60000 and rory beginning capital 90000 are partners. during 2012 the partnership earned net

  Economic functions financial intermediaries perform

What are the economic functions financial intermediaries perform? What is the role of broker in the financial market? How has that role changed since the inception of on-line investing?

  Which accounting process is recognition or non-recognition

which accounting process is the recognition or non-recognition of business activities as accountable events?

  During the last year of operations accounts receivable

during the last year of operations accounts receivable increased by 10900 accounts payable increased by 5900 and

  List weaknesses in internal control over cash disbursements

The purchasing agent pays all bills pertaining to goods purchased for resale. Prior to payment, the purchasing agent determines that the goods have been received and verifies the mathematical accuracy of the vendor's invoice.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd