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lara31 [8.8K]
2 years ago
14

Dale City is accumulating financial resources that are legally restricted to payments of general long-term debt principal and in

terest maturing in future years. At December 31, Year 1, $5,000,000 has been accumulated for principal payments and $300,000 has been accumulated for interest payments. These restricted funds should be accounted for in the: Debt service fund General fund A. $0 $5,300,000 B. $300,000 $5,000,000 C. $5,000,000 $300,000 D. $5,300,000 $0
Business
2 answers:
shusha [124]2 years ago
5 0

Answer:

D. $5,300,000 $0

Explanation:

Base on the scenario been described in the question, option d is correct answer. This is so because funds been restricted is $5,000,000 it then accumulate for principal payments and $300,000 and the interest that accumulated has to pay for both be accounted debt service funds as seen in the question.

Yuri [45]2 years ago
4 0

Answer:

D. $5,300,000 $0

Explanation

Debt service Fund General fund

Accumulated for principal payments $5,000,000 ( Debt service Fund)

Add Accumulated for interest payments $300,000( Debt service Fund)

Total $5,300,000

General fund

$0

$0

These restricted funds should be accounted for in the: Debt service fund General fund is $5,300,000 because the restricted funds of $5,000,000 accumulated for principal payments and $300,000 accumulated for interest payments should both be accounted for in the debt service fund.

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3 years ago
Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a p
Ivan

Answer:

$34,000

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6 0
2 years ago
A firm agreed to pay its workers ​$2525 an hour in 2016 and ​$4141 an hour in 2017. The price level for these years was 241 in 2
NemiM [27]

Answer:

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Explanation:

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= 6.33%

Hence, these workers do get a raise between the two years.

8 0
2 years ago
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