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1. The principal and earnings of a gift held in a trust that can be spent for the college education of the children of deceased policemen should be accounted for in which of the following funds? a. Permanent Fundb. Special Revenue Fundc. Investment Trust Fundd. Private Purpose Trust Fund2. In what way can the amounts in an Investment Trust Fund be invested?a. Any way the government that operates the fund wishesb. Only in corporate stocks and bondsc. Only as provided in the trust agreementd. Only in governmental bonds3. To what type of account are contributions to a Pension Trust Fund usually credited?a. A revenue accountb. An expenditure accountc. An additions accountd. A net position account4. Which account in a Private Purpose Trust Fund should be credited for the proceeds on the sale of an investment that exceeds its book value?a. Cashb. Accounts payablec. Investmentsd. Additions5. Financial statements for a Pension Trust Funda. are included in a governmentâ€TMs annual financial report.b. are categorized as governmental fund financial statements.c. are included with the General Fund for financial reporting purposes.d. are included with a Special Revenue Fund for financial reporting purposes.
Holmes, Inc. obtained significant influence over Nadal Corporation by buying 25% of Nadal's 30,000 outstanding shares of common stock at a total cost of $9 per share on January 1, 2010. On June 15, Nadal declared and paid a cash dividend of $36,00..
various transactions on january 1 2012 ravioli inc. purchased a building for a cash price of 192000 and accrued
wenner furnace corp. purchased machinery for 293700 on may 1 2012. it is estimated that it will have a useful life of
eva received 60000 in compensation payments from jazz corp. during 2014. eva incurred 5000 in business expenses
minor landscaping company is preparing its budget for the first quarter of 2013. the next step in the budgeting process
using the company that you used for your mid-term assignment you are to conduct the following additional analysisfrom
What are the limitation,uniqueness and two illustration of bank reconciliation.
In August of this year, when the home had a fair market value of $550,000 and he owed $225,000 on the mortgage, he took out a home equity loan for $350,000. David used the funds to purchase a yacht to be used for recreational purposes. What is the..
Discuss the overall significance of inventory turnover to a retail store. Compare Wal-Mart's 2012 and 2013 inventory turnover rate, and give your opinion on the way in which Wal-Mart could improve its inventory turnover ratio. Provide a rational..
the following information pertains to cjs cabinet companys sales on account and accounts receivablenbspnbspaccounts
An analysis of the general ledger accounts indicates that office equipment which cost $68,000 and on which accumulated depreciation totaled $22,500 on the date of sale was sold for $39,600 during the year.
Assuming the market value of Massey-Ferguson's debt equals 70 percent of book value, calculate the market value of the company on October 31, 1980. (The market value of debt is well below the $2.5 billion book value due to the prospect of bankrupt..
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