Answer:
option D ( ii, iii and iv )
Explanation:
Required financial statements that should be issued by governmental funds and by proprietary funds include the following among others:
- statement of revenues, expenditures and changes in fund balances,
These among others are expected to reflect/ be included in Financial statement issued by Governmental funds and proprietary funds.
Answer:
PV= $259.89 million
Explanation:
Giving the following information:
Future Value= $800 million
Number of periods= 21 years
Relevant discount rate= 5.5 percent
<u>To calculate the present value, we need to use the following formula:</u>
PV= FV/(1+i)^n
PV= 800/1.055^21
PV= $259.89 million
Answer:
Trial Balance
<u>Debit</u> <u>Credit</u>
Land 53000
Accounts Receivable 5400
Cash 3200
Prepaid Rent 6700
Accounts Payable 3600
Deferred revenue 1950
Common Stock 33000
Retained earnings 21250
Service Revenue 24700
Salaries expense 7500
Supplies expense <u> 8700 </u> <u> </u>
Totals 84500 84500
Explanation:
The trial balance has been made in the answer section.
Answer:
Yes.
Alexander is an intended third party beneficiary of the contract between Michael and Jackson Auto Sales.
Explanation:
In the law of contracts, Alexander becomes a third-party beneficiary of the contract between Michael and Jackson Auto Sales, and he has the right to sue in the contract notwithstanding that he was not an active party to the contract. Some of the factors that may be present to show that a Alexander is an intended beneficiary are: (1) the contract's performance is rendered directly to Alexander; (2) Alexander has rights to control the details of the performance; or (3) there is an express designation in the contract, e.g. the title to the car is in Alexander's name.
