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Fund accounting and preparation of financial statements)The scenario: At the start of the year beginning January 1, 2013, Coco City's General Fund had a cash balance of $40,000, vouchers payable of $35,000, and unassigned fund balance of $5,000. There were no balances in either the Capital Projects Fund or the Debt Service Fund. Coco City has adopted the following budgetary and accounting policies:• Encumbrance accounting is used only for the acquisition of supplies. Open encumbrances lapse at the end of the year, but are considered in developing the next year's budget.• For consistency with property taxes, "available" is defined for sales taxes as taxes expected to be collected within the first 60 days of the next year.Part A ( Chapter 2 -Identification of funds) Coco City uses separate funds for the following activities. State the names of the funds that Coco City will use for each of these activities.1. To account for its day-to-day operating activities2. To acquire or construct major capital assets3. To accumulate resources to service long-term debt4. To operate a municipal swimming pool
Annulment of order The order may be annulled if In the opinion of the court the debtor ought not to have been adjudicated bankrupt; All the debts have been paid in fu
ABC Analysis: ABC that is Always Better Control analysis is an application of the principle of 'Management by Exception' to the field of inventory control. If we seem at the in
Q. What do you mean by depreciation? What are the causes for depreciation? Explain the two methods of depreciation. Depreciation means a fall in the quality, quantity or value o
Corporation Tax This is the tax payable by companies on their trading activities of a given financial period. The standard doesn’t give the guidelines on how this tax should be
A player for a Rice team, Jim Jones, is graduating this year and is considering a career in professional sports. The alternative is to work for two years and then attend business s
REA diagram for (1) PEGASUS PAPER PRODUCTS and (2)PIECES BOUTIQUE
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A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800. The village accepted the shipment and th
Go to your assigned corporation's website and access their latest annual report. Answer the following questions regarding their derivative and foreign currency transactions. 1.
Dividends During the year, the company paid a dividend of Sh.2 per share on the ordinary share s outstanding and Sh.1 on the preference shares outstanding. The company is now pr
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