The citizens of Spencer County approved the issuance of $2,000,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for that purpose. The preclosing trial balance of the courthouse annex capital project fund follows:

Trail Balance-December 31, 2015

Debits

Credits

Cash

$900,000

Contract payable

$550,000

Due from state government

200,000

Encumbrances

85,000

Expenditures-capital

1,850,000

Intergovernmental grant

400,000

OFS: premium on bonds

45,000

OFS: proceeds sale of bonds

2,000,000

Budgetary fund balance-

Reserve for encumbrances

85,000

Transfer out

45,000

$3,080,000

$3,080,000

a. Prepare any closing entries necessary at year-end

b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the courthouse annex capital project fund.

c. Prepare a balance sheet for the Courthouse Annex Capital Project Fund, assuming all unexpended resources are restricted to construction of the courthouse annex.

Arriving and delivering a load of company executives for a business meeting at a destination far from home base requiring an overnight stay, a company’s pilot requested approval from the company finance office to pay to either have the company’s jet brought into the fbo's hangar overnight to protect it from a forecast snowfall or to have it de-iced by the fbo the following morning well-before scheduled departure. the company was under considerable financial pressure at the time, and the pilot’s requests were denied because of the cost. so, early the following morning, the pilot was up on the wing of the jet sweeping off an accumulation of snow and ice with a borrowed push broom in preparation for the scheduled departure with the executives, but slipped and fell to the ground, suffering a broken neck. the business was organized as a limited partnership, owned by 3 limited partners and one general partner. as a cost-saving measure, the company had dropped its workers’ compensation insurance before the accident. analyze the potential liability for the pilot’s injuries of each of the following, showing your reasoning clearly: the company the general partner the limited partners analyze how the outcome would have been different, if the business had been organized as a corporation and observed all of the formalities to legitimize its corporate status. analyze how the outcome would have been different, if the pilot had been covered by workers’ compensation insurance.

Vincent is interested in increasing his earning potential upon completing his internship at a major accounting firm. which option can immediately boost his career in the intended direction? b. complete a certification from a professional organization c. complete a new four-year undergraduate program in a related field d. complete a two-year associate degree in a related field e. complete an online course in accounting

Double corporation acquired all of the common stock of simple company for