1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
svetlana [45]
3 years ago
12

A city acquired two vehicles in a particular year: (1) a sedan for $20,000 that was paid for through the General Fund and (2) a

sanitation truck for $125,000 that was paid for through the Capital Projects Fund. How should the assets be reported in the city's fund-level financial statements?
Business
1 answer:
barxatty [35]3 years ago
3 0

Answer:

None of the acquisition should be reported as assets

Explanation:

Assets are resources with economic potency to provide future benefits. Assets are possessed by individuals, corporations, and countries. Generally, they are considered as possessions that can generate more profits, trigger more sales or reduce expenses in the future.

The sedan and sanitation truck cannot be referred to as assets because they depreciate over time. Due to their depreciating nature, they should not be reported as assets in the city's fund level financial statements.

You might be interested in
Ellen loans Nicole $45,000 to start a hair salon. Unfortunately, the business fails in 2019 and she is unable to pay back Ellen.
Dahasolnce [82]

Answer:

c. $18,000, with $27,000 carried forward to 2020.

Explanation:

Non-business bad debts are accounted as short-term capital losses. Short-term and long-term capital gains may be offset by short-term capital losses. Ellen may offset $15,000 of her $45,000 bad debt from Nicole against the $15,000 capital gain from the sale of stock.

In addition, Ellen may claim up to the annual limitation amount of $3,000 in short-term capital losses. In total, $18,000 of the bad debt can be claimed as a capital loss in the current year with $27,000 in unused short-term capital losses carried forward.

5 0
3 years ago
Who eventually sued Goldman Sachs after losing millions of dollars
Tomtit [17]
Public Employees’ Retirment System of Mississippi
6 0
3 years ago
What is a good and easy 1 credit class to take on FLVS?
san4es73 [151]

Answer:

Web Design I & II

Explanation:

Worth a whole credit each, the web design courses on FLVS are fun and and interesting, but there's a lot of focus needed to make sure you're doing everything right. Since you'll be creating your very own website using Dreamweaver and Fireworks, you'll have to follow instructions laid out in the modules closely. If you're good at focusing and following extensive directions, then you should be fine with the course. Depending on how computer savvy and focused you are, completion time can range from a week to months.Either way, it's an easy course and can be a huge grade booster since as long as you follow directions, you can easily earn a 95% or higher in the class with barely any mindful effort.

8 0
3 years ago
Read 2 more answers
Consider the following information for three stocks, A, B, and C. The stocks' returns are positively but not perfectly positivel
rjkz [21]

Answer:

The answer is letter D.

Explanation:

The correct statement is  Portfolio ABC's expected return is 10.66667%

5 0
3 years ago
After successfully operating for five years, Tina plans to sell her computer service center. Which of the following would be Tin
Sunny_sXe [5.5K]

Answer:

Optimizing capital structure for profits

Explanation:

When an entrepreneur wants to sell her business to another small business or a larger company, she should try to maximize the value of their current business. A way to do this is by optimizing the business's capital structure (e.g. lower the debt to capital ratio). Tina will be able to sell her business at a higher cost and the new owner will have a healthier and potentially more profitable business to run.

8 0
3 years ago
Other questions:
  • Two types of deposit accounts are
    10·1 answer
  • Alfarsi Industries uses the net present value method to make investment decisions and requires a 15% annual return on all invest
    5·1 answer
  • A PR firm was awarded an account for a cereal manufacturer’s new children’s cereal. The firm is tasked with creating a campaign
    14·1 answer
  • MSK Construction Company contracted to construct a factory building for $525,000. Construction started during 20X1 and was compl
    11·1 answer
  • An osha inspector completed her inspection of a mining operation, including a walkaround and employee interviews. then the osha
    13·1 answer
  • The concentration ratio provides a measure of the extent to which an industry Question 63 options: produces a useful product. is
    10·1 answer
  • The appropriate discount rate for the following cash flows is 7.38 percent per year.
    6·1 answer
  • A financial statement is a summary of all the financial transactions that have occurred over a particular period. Also financial
    6·1 answer
  • What is total surplus with a tax equal to?.
    9·1 answer
  • What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!