User Account

All Pages

What should be made in the general fund

Assignment Help Accounting Basics
Reference no: EM132695056

Problem 1: The Village of Walton borrows $500,000 for a period not to exceed six months using a tax anticipation note. The proceeds from the borrowing are deposited in the General Fund. The note will be repaid when property taxes are collected. What journal entry, if any, should be made in the General Fund when the Village borrows the money?

Reference no: EM132695056

Questions Cloud

Discuss what is capitalism : Discuss What is capitalism? Can the inventory valuation method chosen affect a company's ability to compete in a capitalistic economy?
Morality-What is meant by Christian nonviolence : What is meant by Christian nonviolence and by pacifism? Are they the same thing? Why or why not?
Promise made is enforceable : Choose one of the scenarios below and explain whether you think that the promise made is enforceable.
Find and compute net cash provided by operating activities : Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts.
What should be made in the general fund : The note will be repaid when property taxes are collected. What journal entry, if any, should be made in the General Fund when the Village borrows the money?
Which of the errors caused the totals of the trial balance : Ramniwas, a book-keeper, Which of the errors caused the totals of the Trial Balance to disagree and by how much did the totals differ?
Criminal justice professionals in positive or negative light : In what ways does your media example portray the criminal justice professionals in a positive or negative light?
Comparative criminal justice systems : Why do you believe it has taken so long for women in China to obtain these legal protections given the facts in the reading?
Find what is the appropriate treatment : Was this correctly recorded? If not, what is the appropriate treatment? In December of 2019, RRI performed a renovation for Finley Fibbs, a lawyer.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Locust software sells computer training packages to its

locust software sells computer training packages to its business customers at a price of 105. the cost of production is

  Companies occasionally sell more than one security

Companies occasionally sell more than one security for a single price. How is the issue price allocated among the separate securities?

  What is the expected rate of return on the project

Consider the following probability distribution of returns estimated for a proposed project that involves a new ultrasound machine

  Limitation of internal control

Which of the following is not a limitation of internal control? Bonds that may be exchanged for common stock at the option of the bondholders are called

  Discuss what is the roi of the division

Magic Lawnmower Company assembles lawnmowers from a number of different parts. Some of those parts are manufactured by Magic

  Teacher gave a hypothetical question today one posted and i

teacher gave a hypothetical question today one posted and i could not grasp how she got any of the answers.wonderful

  How much is avoidable interest

Acme, Inc., a subsidiary of J & J, during 2015, began and completed a small warehouse. How much is avoidable interest

  Explain the process of calculating a company current tax

Why are usually differences between a company's accounting profit and taxable profit. Explain the process of calculating a company's current tax liability.

  Net annual cost of the checking account

What would be the net annual cost of the following checking account?

  Mullineaux corporation has a target capital structure of 65

mullineaux corporation has a target capital structure of 65 percent common stock 5 percent preferred stock and 30

  What is a current liability

What is a current liability? From the perspective of a user of financial statements, why do you believe current liabilities separated from long-term liabilities

  Indicate how the following items are recorded

Indicate how the following items are recorded in the accounting records in the current year of Coronet Co.

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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