User Account

All Pages

What liability will be reported at end of the second year

Assignment Help Accounting Basics
Reference no: EM132560242

Question - A city starts a solid waste landfill that it expects to fill to capacity gradually over a 8-year period. At the end of the first year, it is 10 percent filled. At the end of the second year, it is 23 percent filled. Currently, the cost of closure and post-closure is estimated at $1 million. None of this amount will be paid until the landfill has reached its capacity.

If this landfill is judged to be a governmental fund, what liability will be reported at the end of the second year on fund financial statements?

a. $130,000.

b. $230,000.

c. $240,000.

d. $0.

Reference no: EM132560242

Questions Cloud

What are the major sections of a cafr : Explain the difference between a CAFR and general purpose external financial reports. please explain it as detailed and long as possible.
Find what is advice to client : Find What is your advice to your client? The Qwik-Pass CPA Review Co., charges $10,000 for its review classes, and offers a money-back guarantee
Plan geographic inquiry to investigate : Plan a geographic inquiry to investigate the question. In the plan students will explain how they will complete the following aspects of the investigation
Discuss about the complex threat platforms : A hybrid threat is mixed-variety or a complex threat. Use the current readings, the Web, IT magazines, the CU digital library, and/or other reliable.
What liability will be reported at end of the second year : If this landfill is judged to be a governmental fund, what liability will be reported at the end of the second year on fund financial statements
How to show the necessary adjusting journal entries : How to Show the necessary adjusting journal entries for the information. The intangible asset was capitalized from the cost of research and development
Concepts of capitalism and socialism : Briefly define, in your own words, the concepts of capitalism and socialism. Then list three pros and cons of each.
How much Leigh report as temporarily restricted assets : As consequence of its receipt of Day Co. shares, how much Leigh report as temporarily restricted net assets on its 2017 statement of financial position
Earthquake on water quality and water quantity : Is water quality better in rural or urban Nepal? What was the effect of 2015 earthquake on water quality and water quantity?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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