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77julia77 [94]
3 years ago
11

The Wayne City Council approved and adopted its budget for 2016. The budget contained the following amounts: Estimated revenues

$700,000 Appropriations 660,000 Authorized operating transfer to the Library debt service fund 30,000 When recording the adopted budget in the general fund, budgetary fund balance should be:
Business
1 answer:
Vilka [71]3 years ago
4 0

Answer: The budgetary fund balance is $10,000

Explanation: When calculating budgetary fund balance, the best method is given as:

The available fund balance (from previous audit) + current year revenues = Total available funds - expenditures = current year ending fund balance

What we can see from the above expression is that we add the fund from the previous year balance to the current year revenues. This will give us amount of total funds available. Now we will minus the current year expenditures from the total funds available to give us the budgetary fund balance of the current year.

From the question above, we have the following:

Estimated revenues = $700,000

Appropriations (expenditures) = $660,000

Debt service = $30,000

Total expenditures = $660,000 + $30,000 = $690,000

Therefore budgetary fund balance will be:

Estimated revenues - total expenditures

= $700,000 - $690,000

= $10,000

Therefore, the budgetary fund balance is $10,000.

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Which of the following companies has the lowest degree of leverage?
LiRa [457]

The firm with a 20% Debt and 80% Equity has the lowest degree of leverage.

<h3>What is a degree of leverage?</h3>

This means  how much a firm operating income changes in response to a change in sales.

Because the Firm C has a low debt, this means its has the lowest degree of leverage when compared to others.

Therefore, the Option C is correct.

Missing options "90% Debt, 10% Equity

30% Debt, 70% Equity

20% Debt, 80% Equity

50% Debt, 50% Equity"

Read more about degree of leverage

<em>brainly.in/question/8720374</em>

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4 0
2 years ago
Pierce currently has $10,000. What was the value of his money five years ago if he has earned 5 percent interest each year?. . .
Vladimir [108]
Amount = $10000
Let us assume the principal = x
Amount of interest = 5%
Time = 5 years
Then
x (1 + i)^t = 10000
x(1 + 0.05)^5 = 10000
x(1.05)^5 = 10000
1.28x = 10000
x = 10000/1.276281
   = 7835.26
From the above deduction, it can be easily concluded that the correct option among all the options that are given in the question is the second option or option "B".
5 0
3 years ago
Read 2 more answers
In 2016, Sarah (who files as single) had silverware worth $10,000 (basis $6,000) stolen from her home. Sarah's insurance company
-BARSIC- [3]

Answer:

C) None of the $5,000 should be included in gross income.

Explanation:

During 2016, Sarah's itemized deductions (other than the stolen silverware) were only $2,000. If Sarah wanted to deduct the stolen silverware, she could have taken a casualty loss = $6,000 - $100 - $3,000 = $2,900. Her total itemized deductions would equal $2,000 + $2,900 = $4,900.

But during that year, Sarah should have opted for a standard deduction of $6,300 which is higher than her itemized deductions. That means that Sarah didn't claim any deduction for her silverware, so any money received from the insurance company should not be included in her gross income.

5 0
3 years ago
On May 7, Jernigan Company purchased on account 640 units of raw materials at $15 per unit. During May, raw materials were requi
Tema [17]

Answer:

Date               Account Title                                              Debit               Credit

May 7             Materials                                                 $9,600

                      Accounts Payable                                                            $9,600

<u>Working:</u>

= Units purchased * cost per unit

= 640 * 15

= $9,600

As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.

3 0
3 years ago
About three hours after he falls asleep, Bobby often sits up in bed screaming incoherently. Hismother tries to awaken him, but w
Alla [95]

Answer:

A. Night Terrors

Explanation:

Night terrors also known as sleep terrors are occurrences similar to nightmares involving intense screaming, intense fear, crying and thrashing while still sleeping. It is also often accompanied with sleep walking and all these while the person is still unconscious or in deep sleep.

The episodes often begin with screams and shouts, followed by sitting up on the bed with eyes wide open, heavy sweats, dilated pupils and heavy breathing among others.

Most times as well, the person who suffers from night terrors would have little or no memory of the event by the next morning.

Night terrors should be reported to medical practitioners if it continues for a long time, happens frequently and the safety of the victim is becoming a concern from aggressive episodes of thrashing and violent behavior.

If Bobby's episodes become more frequent and more violent, then Bobby's mother should report the case to a certified medical practitioner.

6 0
3 years ago
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