Business, 06.08.2019 18:10 salehabajwa101

Carlton city has operated a city utility (enterprise) fund for a number of years. the fund accounts for the activities of the city-owned electric, water and sewer systems. during the current year, the city engaged in the following transactions related to the city utility fund. required: prepare the appropriate journal entries. if none is required, write “no entry required.” the city billed its customers $2 million for services provided during the year. the city received $600,000 from a developer to connect new houses to the existing utility lines. revenue bonds in the amount of $2 million were issued at par to finance new construction. the bond agreement requires that the city retain $400,000 of the bond proceeds for purposes of servicing the debt if revenues are not sufficient to do so. depreciation on existing physical plant was $500,000.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 02:30, kseniyayakimno

Luc do purchased stocks for $6,000. he paid $4,000 in cash and borrowed $2,000 from the brokerage firm. he bought 100 shares at $60.00 per share ($6,000 total). the loan has an annual interest rate of 8 percent. six months later, luc do sold the stock for $65 per share. he paid a commission of $120 and repaid the loan. his net profit was how much? pls

Answers: 3

continue

Business, 22.06.2019 11:30, kimjp56io5

Amano s preguntes cationing to come fonds and consumer good 8. why did the u. s. government use rationing for some foods and consumer goods during world war ii?

Answers: 1

continue

Business, 22.06.2019 17:30, chrisd2432

Alinguist had a gross income of 53,350 last year. if 17.9% of his income got witheld for federal income tax, how much of the linguist's pay got witheld for federal income tax last year?

Answers: 2

continue

Business, 22.06.2019 18:00, Aethis

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan

Answers: 2

continue

You know the right answer?

Carlton city has operated a city utility (enterprise) fund for a number of years. the fund accounts...