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kodGreya [7K]
4 years ago
12

The following proceeds received by Grove City in year 1 are legally restricted to expenditure for specified purposes: Donation b

y a benefactor mandated to a permanent fund to provide funds, the income of which is to provide meals for the needy (a government program) $300,000 Sales taxes to finance the maintenance of tourist facilities in the shopping district 900,000 What amount should be accounted for in Grove’s special revenue funds?
Business
1 answer:
tatiyna4 years ago
4 0

Answer:

The $1,200,000 should be accounted for in Grove’s special revenue funds

Explanation:

Special revenue fund: The special revenue fund is a fund that is introduced by the government to collect the money from the public. It is made to fulfill the need for specific purposes/ projects.  

The computation of special revenue funds is shown below:

= Income received for providing the meals to the needy people + financing of sales tax with respect to tourist facilities maintenance in the shopping district

= $300,000 + $900,000

= $1,200,000

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Joel was recently hired as a police officer in his city's police department. As part of employee training, his supervisor trains
Assoli18 [71]

Answer:

On-the job training.

Explanation:

This is explained to be normal emphasized training that working staffs are seen to undergo; especially newly employed staffs, which is a direct training while doing the actual job they are been hired or paid for. A a good and reasonable trainee in this aspect is seen to be appreciative when given this chance to develop knowledge and skills without ever leaving work. In this employee training format, employees are seen to receive your workplace needs, norms, and culture and familiarize with them. Internal job training and employee development bring a special plus. This is why in the scenario above, Joel's supervisor trains him off-site on the use of firearms.

3 0
3 years ago
What type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order
suter [353]
The right answer for the question that is being asked and shown above is that: "Activity." The type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order sizes to help expand or eliminate any products or marketing activities is called the <span>Activity </span>
7 0
3 years ago
Identify the uses of generally accepted accounting principles (GAAP). A. Independent accountants use GAAP to determine the amoun
lora16 [44]

Answer:

The correct option is;

B. Companies use GAAP when preparing financial statements

Explanation:

Generally Accepted Accounting Principles (GAAP) are the guidelines with regards to the standards, principles, practices and procedures of financial statement compilation by accountants issued by the Financial Accounting Standards Board (FASB). It is a requirement that all publicly quoted companies make use of GAAP for their financial compilation.

GAAP comprises of the generally accepted accounting records reporting and recording methods as well as policy board standards of accounting procedures.

7 0
3 years ago
During hyperinflation, the value of money: Multiple choice question. falls slowly rises slowly does not change falls rapidly ris
Vinil7 [7]

The value of money grows fast during hyperinflation.

Hyperinflation is defined by fast and unrestricted price rises in an economy, generally at rates greater than 50% per month over time. In times of war and economic turbulence in the underlying manufacturing sector, along with a central bank creating an excessive quantity of money, hyperinflation can arise.

As essential items such as food and gasoline become limited, hyperinflation can cause price increases.

While hyperinflations are uncommon, once they start, they may quickly spiral out of control.

Therefore, the correct option is rises rapidly.

To know more about hyperinflation click here:

brainly.com/question/1297747

#SPJ4

8 0
2 years ago
EA3.
icang [17]

Answer:

3,000 units and 1,950 units

Explanation:

For computing the equivalent units of ending work in process for materials and conversion cost, first we have to determine the ending work in process units which is shown below:

Ending work in process units = Beginning inventory + units started - units completed and transferred

= 2,500 units + 18,000 units - 17,500 units

= 3,000 units

Now the equivalent units of ending work in process for materials would be

= 3,000 units × 100%

= 3,000 units

And, for conversion cost it would be

= 3,000 units × 65%

= 1,950 units

3 0
3 years ago
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