Business, 12.02.2020 00:03 kadinmorgan
Kilbourne County engaged in the following transactions in summary form during the fiscal year. All amounts are in millions. You need not be concerned with the category of funds balances to which reserves for encumbrances are classified on the fund balance sheet.
1. It commissioners approved a budget for the current fiscal year. It included total revenue of $860 and total appropriations of $850.
2. It ordered office supplies $20
3. It incurred the following costs, paying in cash Salaries $610 Repairs $40 Rent $25 Utilities $41 Other operating costs $119
4. It ordered equipment costing $9
5. It received the equipment and was billed for $10, rather than $9 as anticipated
6. It received the previously ordered supplies and was billed for the amount originally estimated. The county reports the receipt of supplies as expenditures, it does not maintain an inventory account for supplies.
7. It earned and collected revenue of $865
Answers: 3
Business, 21.06.2019 21:00, singfreshjazz3370
Colah company purchased $1.8 million of jackson, inc. 8% bonds at par on july 1, 2018, with interest paid semi-annually. when the bonds were acquired colah decided to elect the fair value option for accounting for its investment. at december 31, 2018, the jackson bonds had a fair value of $2.08 million. colah sold the jackson bonds on july 1, 2019 for $1,620,000. the purchase of the jackson bonds on july 1. interest revenue for the last half of 2018. any year-end 2018 adjusting entries. interest revenue for the first half of 2019. any entry or entries necessary upon sale of the jackson bonds on july 1, 2019. required: 1. prepare colah's journal entries for above transaction.
Answers: 1
Business, 22.06.2019 16:30, tadams9922
Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income
Answers: 1
Business, 22.06.2019 21:00, nasrah
Dozier company produced and sold 1,000 units during its first month of operations. it reported the following costs and expenses for the month: direct materials $ 69,000 direct labor $ 35,000 variable manufacturing overhead $ 15,000 fixed manufacturing overhead 28,000 total manufacturing overhead $ 43,000 variable selling expense $ 12,000 fixed selling expense 18,000 total selling expense $ 30,000 variable administrative expense $ 4,000 fixed administrative expense 25,000 total administrative expense $ 29,000 required: 1. with respect to cost classifications for preparing financial statements: a. what is the total product cost
Answers: 2
Kilbourne County engaged in the following transactions in summary form during the fiscal year. All a...
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