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kicyunya [14]
3 years ago
6

A city borrows $800,000 in January because it does not receive property taxes until May. It borrows on a tax anticipation note,

which it will repay in May when taxes are collected. How would the city classify the proceeds from the note if it were to prepare governmental-type fund financial statements on March 31?
Business
1 answer:
Oduvanchick [21]3 years ago
4 0

Answer:

Liability

Explanation:

The city classify the proceeds from the note as a Liability if it were to prepare governmental-type fund financial statements on March 31.

Liabilities:

These are the debts which company has to pay. If company has liabilities it means company has to pay to some other entity/supplier or someone for its debts. It includes loans,account payable and many other accounts in financial statement.

In our case company has borrowed $800,000 in January and will repay in May after taxes are collected. If city has to prepare the financial statement before May then this $800,000 will be the liability in the statement.

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Studdard Controls recently declared a quarterly dividend of $1.25 payable on Thursday, April 25, to holder of record of Friday,
elena-14-01-66 [18.8K]

Answer:

April 11th

Explanation:

the dividends will be paid to the owner of the share one day before the record.  This is defined asthe Ex-date ofthe dividends.

DISCLAMER

Assuming it refers to 2019 Apil 12th

the previous business day will be April 11th (we should liook into the calendar and avoid counting Friday and saturdays

for the year 2019 April 12th is a friday so it is okay to define it as April 11th

7 0
3 years ago
Dukelow Corporation has two divisions: the Governmental Products Division and the Export Products Division. The Governmental Pro
Black_prince [1.1K]

Answer:

$28,600

Explanation:

Both sales and variable cost are dependent on the number of units sold.

The sales less the variable cost gives the contribution margin. The contribution margin less the fixed cost gives the net operating income.

As such, the net operating income/loss is the difference between the sales and the total costs.

The company's net operating income (loss)

= $42,300 + $94,700 -  $108,400

= $28,600

8 0
3 years ago
Difference between bookkeeping and accounting in table​
Sladkaya [172]

Answer:

Bookkeeping is related to the recording measuring, and finding the financial data of a company and Accounting is the process where in the company's financial data is summarized, and a report is prepared for the same.

Explanation:

hope this will help you

3 0
3 years ago
Hillary can invest her family savings in two assets: riskless treasury bills or a risky vacation home real estate project on an
galina1969 [7]

Answer:

The expected return on her portfolio is B) 11.8%

Explanation:

Hi, the expected return of a portfolio can be found by multiplying the weight of each of the assets times each of its expected return, that is:

E(portfolio)=E(Tbills)*Weight(Tbills)+E(other)*Weight(other)

So everything should look like this

E(portfolio)=0.04*0.70+0.3*0.3=0.118

The expected return of the portfolio is 11.8%, that is option B)

Best of luck.

7 0
4 years ago
Warr Company is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's pr
BartSMP [9]

Answer:

Option B, IRR is 14.42%

Explanation:

The IRR is the rate of return that equates the cost of the project to the present value of cash flows receivable from the project in future.

Using an excel approach, the formula formula IRR is given as:

=irr(values)

The values in this case are

-$1300 in  year 0

$450 in year 1

$450 in year two

$450 in year 3

$450 in year 4

The irr gives 14.42% as shown in the spreadsheet attached

The cost of the investment of the investment project of $1300 equals the present values of its cash flows at 14.42% rate of return

Download xlsx
4 0
4 years ago
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