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A citizen sued a city because he was accidentally shot by a police officer. The city acknowledges responsibility for the accident, and based on ongoing negotiations, the city, attorney believes the citizen, claim will probably be settled for about $ 75,000. The accident occurred on March 14, 2013; the government, fiscal year ends June 30, 2013; and the city, attorney believes settlement will be reached in about January 2014. Prepare the journal entry, if any, the city should make regarding this event when it closes its General Fund books for fiscal year 2013. To support your answer state the principle that governs the accounting for this event in the General Fund.
james company began the month of october with inventory of 34000. the following inventory transactions occurred during
haven corporation issued 700000 of 10-year bonds payable at par in 2005. during 2009 haven paid 50000 interest and an
During 2014 AFCO started a construction job with a contract price of $2,500,000. The job was completed in 2016. The following information is available.
on january 1 2011 steadman issues 390000 of 8 20-year bonds at a price of 97.00. six years later on january 1 2017
pacific products inc. completed and transferred 55000 particle board units of production from the pressing department.
elizabeth sweeney wants to accumulate 13000 by the end of 12 years. if the annual interest rate is 6.10 percent how
on february 15 seacoft buys 7000 shares of kebo common stock at 28.53 per share plus a brokerage fee of 400. the stock
What is meant by variance power? Suppose that a charitable foundation receives a gift that the donor specifies must be used to support the college education of a particular individual. Of what relevance is variance power to how the foundation acco..
Anderson Manufacturing makes a single product.
an analyst is evaluating securities in a developing nation where the inflation rate is very high. as a result the
trilluium processes in auto insurance policies on abatch-oriented computer system with magnetic dist storage.customers
the following information is from the annual financial statements of lucilla company. net sales 2011 were 262000. 2010
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