Accounting

9 years ago

(Journal entries with emphasis on Capital Projects Fund) Prepare journal entrie

(Journal entries with emphasis on Capital Projects Fund)

Prepare journal entries in the Capital Projects Fund to record the following transactions related to the construction of a building by the Village of Navajo Falls. (Note that only Ca

goji.go 950 3 Replies

9 years ago

(Journal entries with emphasis on Debt Service Fund) The Shannon Township Debt

(Journal entries with emphasis on Debt Service Fund)

The Shannon Township Debt Service Fund accumulates resources to pay its $2 million general obligation debt. The debt is payable in equal annual installments of principal over 10 years wi

goji.go 632 3 Replies

9 years ago

(Preparation of Pension Trust Fund schedule of funding progress) Based on the f

(Preparation of Pension Trust Fund schedule of funding progress)

Based on the following data elements (not all of which are relevant to this problem) calculate (a) the funded ratio and (b) the unfunded actuarial accrued liability as a perc

goji.go 317 3 Replies

9 years ago

(Present value tables required) Assuming an interest rate of 10%, if you invest a lump sum of $5,000

(Present value tables required) Assuming an interest rate of 10%, if you invest a lump sum of $5,000 now, the balance of your investment in 7 years will be closest to
A) $9,745.
B) $23,340.
C) $12,970.
D) $35,000.

bernie2981 244 1 Reply

8 years ago

(Present value tables required) Assuming an interest rate of 10%, the present value of $11,000 recei

(Present value tables required) Assuming an interest rate of 10%, the present value of $11,000 received at the end of each year for 6 years would be closest to
A) $84,876.
B) $47,905.
C) $6,204.
D) $66,000.

bernie2981 297 2 Replies

bernie2981

8 years ago

(Present value tables required) Assuming an interest rate of 10%, the present value of $50,000 to be

(Present value tables required) Assuming an interest rate of 10%, the present value of $50,000 to be received 8 years from now would be closest to
A) $21,200.
B) $107,200.
C) $23,350.
D) $19,300.

bernie2981 292 1 Reply

8 years ago

(Present value tables required) If you invest $1,200 at the end of every year for five years at an i

(Present value tables required) If you invest $1,200 at the end of every year for five years at an interest rate of 10%, the balance of your investment in 5 years will be closest to
A) $7,326.
B) $4,549.
C) $6,000.
D) $1,933.

bernie2981 216 2 Replies

bernie2981

8 years ago

(Present value tables required) Income from an apartment building you own totals $260,000 per year.

(Present value tables required) Income from an apartment building you own totals $260,000 per year. You plan on selling the building and retiring to France in 12 years. Assuming you can invest the income from the building each year at 3%, how much mo

bernie2981 539 1 Reply

8 years ago

(Present value tables required) The present value of an investment is affected by which of the follo

(Present value tables required) The present value of an investment is affected by which of the following?
A) The type of investment (annuity versus lump sum)
B) The interest rate
C) The number of time periods (length of the investment)

bernie2981 320 2 Replies

bernie2981

8 years ago

(Present value tables required) You win the lottery and must decide how to take the payout. Use an 8

(Present value tables required) You win the lottery and must decide how to take the payout. Use an 8% discount rate. What is the present value of $15,000 a year received at the end of each of the next six years?
A) $90,000
B) $69,345

bernie2981 584 1 Reply

8 years ago

(Present value tables required) You won the lottery and have a number of choices as to how to take t

(Present value tables required) You won the lottery and have a number of choices as to how to take the money. Which choice yields a greater present value?
A) $92,000 (lump sum) 7 years from now using an 8% discount rate
B) $53,500 (lump sum

bernie2981 533 2 Replies

rk1981

5 years ago

(True or false?) State whether each of the following are true or false, regardin

(True or False)

State whether each of the following are true or false, regarding the recording of transactions and events in the budgetary and the proprietary accounts. For statements that are false, state why they are false.
a. Obl

goji.go 460 3 Replies

9 years ago

(True or false?) State whether these statements are true or false. Discuss why t

(True or false)
State whether these statements are true or false. Discuss why the false statements are false.

a. An entity is likely to be a governmental entity if a controlling majority of its governing body is appointed by g

goji.go 520 3 Replies

9 years ago

(Use of funds) Andy Kelly Hospital uses the following types of funds for intern

(Use of funds)

Andy Kelly Hospital uses the following types of funds for internal purposes: General Fund; Specific Purpose Funds; Plant Replacement and Expansion Fund; and Endowment Fund. State which fund (or funds) would be used to accoun

goji.go 266 3 Replies

9 years ago

) If the sales mix shifts to one unit of Product X and two units of Product Y, then the weighted-ave

) If the sales mix shifts to one unit of Product X and two units of Product Y, then the weighted-average contribution margin will ________.
A) increase per unit
B) stay the same
C) decrease per unit
D) decrease by $0.50 per uni

jerico 286 3 Replies

cyborg

9 years ago

.Explain why interest expense on investments is limited to net investment income.

Sheena Maskell 68 2 Replies

Sheena Maskell

7 years ago

1. What is the LIFO conformity rule?

1. What is the LIFO conformity rule?
2. Why is LIFO used by so many companies?
3. What is the disadvantage of LIFO?

mattkat1010 38 2 Replies

mattkat1010

5 years ago

4) __________ accounts receivable5) __________ accounts payable6) __________ service revenue7) ...

4) __________ accounts receivable
5) __________ accounts payable
6) __________ service revenue
7) __________ accumulated amortization
8) __________ amortization expense

gOOvER 82 1 Reply

Kryzen

6 years ago

48,000Equipment52,000C. Lexus, Capital10,000Accum. amort.-equipment12,000Service revenue69,000Salary ...

48,000
   Equipment   52,000
   C. Lexus, Capital   10,000
   Accum. amort.-equipment   12,000
   Service revenue   69,000
   Salary expense   31,000
   Accum. amort.-furniture   6,000
   Furniture   49,400

18) Referring to Table 4-

harra 59 2 Replies

6 years ago

48,000Equipment52,000C. Lexus, Capital10,000Accum. amort.-equipment12,000Service revenue69,000Salary ...

gOOvER 77 2 Replies

gOOvER

5 years ago

5,500Equipment22,000J. Huma, Capital19,900Accum. amort.-equipment6,100Service revenue29,000Salary ...

5,500
   Equipment   22,000
   J. Huma, Capital   19,900
   Accum. amort.-equipment   6,100
   Service revenue   29,000
   Salary expense   8,000
   Furniture   12,000
   Accum. amort.-furniture   4,000
   Amortization expense   6,800
   U

gOOvER 56 2 Replies

gOOvER

5 years ago

5,500Equipment22,000J. Huma, Capital19,900Accum. amort.-equipment6,100Service revenue29,000Salary ...

harra 53 2 Replies

6 years ago

5.The textbook discusses three levels of variances, Level 0, Level 1, Level 2, and Level 3. Briefly

What are each level of variances in cost accounting?

JAlexandre 441 N/A

JAlexandre

7 years ago

500 shirts are sold as seconds at $12 per shirt. Cost of spoiled shirts is $500,000. Cost of shirts

500 shirts are sold as seconds at $12 per shirt. Cost of spoiled shirts is $500,000. Cost of shirts at inspection point equals $9,500,000. Calculate the net cost of the spoilage.
A) $9,494,000
B) $494,000
C) $506,000
D) $9,506,000

jerico 837 3 Replies

cyborg

9 years ago

7,50014) Referring to Table 4-2, what are the total current assets and total assets for Alice's ...

7,500

14) Referring to Table 4-2, what are the total current assets and total assets for Alice's Rentals?
A) $12,100 and $25,100
B) $8,500 and $25,100
C) $8,500 and $21,500
D) $12,100 and $27,100

harra 68 2 Replies

6 years ago

7,5005) Referring to Table 4-2, what is the current ratio for Alice's Rentals?

7,500

5) Referring to Table 4-2, what is the current ratio for Alice's Rentals?
A) 0.90
B) 1.55
C) 1.29
D) 1.09

harra 244 3 Replies

Nyangoya Alex

3 years ago

700 shirts are sold as seconds at $18 per shirt. Cost of spoiled shirts is $501,400. Cost of shirts ...

700 shirts are sold as seconds at $18 per shirt. Cost of spoiled shirts is $501,400. Cost of shirts at inspection point equals $9,508,000. Calculate the net cost of the spoilage.
A) $9,495,400
B) $488,800
C) $514,000
D) $9,520,600

redesace90 336 2 Replies

ahmad mansour

3 years ago

? A.A balance sheet. B.A statement of cash flows. C.A budget-to-actual statem

?
A.   A balance sheet.
B.   A statement of cash flows.
C.   A budget-to-actual statement.
D.   A statement of revenues, expenditures, and changes in fund.

goji.go 294 3 Replies

9 years ago

A cost is considered direct if it can be traced to a particular cost object in a cost effective way ...

A cost is considered direct if it can be traced to a particular cost object in a cost effective way which means it can be
A) traced easily with the aid of technology
B) traced in a manner that is accurate
C) traced in an economically feasible wa

Terabear 57 2 Replies

Terabear

5 years ago

A $1,000 bond quoted at 105 would sell for:

A $1,000 bond quoted at 105 would sell for:
A) $1,050.
B) $1,000.
C) $1,105.
D) $105.

majestico 98 1 Reply

Laffio

6 years ago

A $1,000 bond quoted at 98 would sell for:

A $1,000 bond quoted at 98 would sell for:
A) $980.
B) $1,000.
C) $98.
D) None of the above

majestico 71 3 Replies

Augustis

5 years ago

A $1,500 bond quoted at 98 1/2 is selling for:

A $1,500 bond quoted at 98 1/2 is selling for:
A) $1,500
B) $1,518
C) $1,492
D) $1,478

1 2

Harrison 1183 14 Replies

Hafsa Sheikh

3 years ago

A $10,000 bond issue with a stated rate of interest of 7%, when the market rate of interest is 8%, ...

A $10,000 bond issue with a stated rate of interest of 7%, when the market rate of interest is 8%, means that the bond will be sold for:
A) $10,000.
B) more than $10,000.
C) less than $10,000.
D) the maturity value.

tivo 84 2 Replies

tivo

7 years ago

A $10,000 bond quoted at 103 1/2 is selling for:

A $10,000 bond quoted at 103 1/2 is selling for:
A) $9,662
B) $9,897
C) $10,104
D) $10,350

Tomm 110 2 Replies

emmaavery

3 years ago

A $10,000 gain earned on stock held 13 months is taxed in a more favorable manner than a $10,000 ...

A $10,000 gain earned on stock held 13 months is taxed in a more favorable manner than a $10,000 gain earned on stock held 11 months.

▸ true

▸ false

cpa0511 11 1 Reply

R231

3 years ago

A $10,000, 7% note is dated June 18 and is due in 45 days. The due date would be:

A $10,000, 7% note is dated June 18 and is due in 45 days. The due date would be:
A) Aug 2.
B) Aug 4.
C) Aug 3.
D) Aug 1.

Fast2F 71 1 Reply

Augustis

6 years ago

A $100 collection on account was posted as a debit to cash and a credit to accounts payable. This ...

A $100 collection on account was posted as a debit to cash and a credit to accounts payable. This error will cause:
A) the trial balance to be in balance.
B) the sum of the credits to exceed the sum of the debits by $100.
C) the sum of

harra 73 2 Replies