When accounting for the general fund, the encumbrances control account is credited when: purchase order is filled or canceled.
<h3>
What do you mean by general fund?</h3>
A general fund is defined as the fund which is known as the primary operating fund of a governmental unit. Most of the usual activities are supported by general fund.
On the other hand, the encumbrance control account is defined as settlement under which the some amount of money keep aside to meet the anticipated expenses.
For example, the reserve is used for maintaining the contract or purchase order.
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Answer:
Detailed solution is given below in tabular form:
Answer:
$9.57 per stock
Explanation:
using the dividend discount model to find the stock's current price (P₀):
P₀ = Div₁ / (Re - g)
- Div₁ = $0.70 x 1.025 = $0.7175
- Re = 10%
- g = 2.5%
P₀ = $0.7175/ (10% - 2.5%) = $0.7175/ 7.5% = $9.5667 ≈ $9.57 per stock
Answer:
Amount in flexible budget of cost of direct material for the month of November shall be $93,456
Explanation:
Flexible budget is the budget prepared based on actual level of output, in relation to standard cost as estimated.
Here, for the month of November
Actual activity = 7,920 units
Standard material cost = $11.80 per unit
Amount in flexible budget based on actual quantity of output shall be
7,920 
$11.80 = $93,456
Actual cost = $93,926
Therefore, amount in flexible budget of cost of direct material for the month of November shall be $93,456
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