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Oksanka [162]
3 years ago
11

The following financial resources were among those received by Seco City during year 1:_____

Business
1 answer:
Burka [1]3 years ago
8 0

Answer:

A) $0

Explanation:

Seco City will record $0 as special revenue funds during year 1 with respect to the foregoing resources.

The $6,000,000 for acquisition of major capital facilities would be recorded as capital projects fund.

$2,000,000 to create a non-expendable trust would be recorded as private purpose trust fund.

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3 0
4 years ago
On January 1, Borge Inc. issued $3,000,000, 8% bonds for $2,817,000. The market rate of interest for these bonds is 9%. Interest
sveta [45]

Answer:

At the end of the first year, Borge should report unamortized bond discount of a. $169,470.

Explanation:

Solution:

Interest amount =

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4 0
3 years ago
Read 2 more answers
Panco, a U.S. entity, has a subsidiary, Sanco, located in a foreign country. Sanco's operations are concentrated in the country
Arte-miy333 [17]

$15,600 is the amount (in 000) of Sanco's sales in U.S. dollars

Explanation and Solution :

Because translations can be used to translate the financial results of Sanco presented in FCUs to U.S. dollars, transactions will be translated using the rate of exchange in effect at the time of each transaction or the weighted average exchange rate for the year.

In this scenario, the weighted average exchange rate for the duration shall be given as

1 FCU = $1,300.

The right dollar sum of revenue to Sanco will then be

12,000 FCUs x $1,300 = $15,600.

8 0
3 years ago
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3 years ago
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Answer:

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Explanation:

6 0
3 years ago
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