No reporting is made on the government-wide financial statements.
<u>Explanation:</u>
Cash of $60,000 transferred to the debt service fund from the general fund.
The transfer was noted completely within the Government Activities. Hence, there was no net change on the total amounts posted. A liability is posted on the government-wide financial statements. Also, such statements record economic resources.
Answer:
Assets = Liabilities plus stockholders' equity = $18,340
Explanation:
(a) Set up an accounting equation in columnar form with the following individual assets, liabilities, and stockholders' equity accounts: Cash, Accounts Receivable, Equipment, Accounts Payable, Notes Payable, Common Stock, and Retained Earnings. Enter the January 1 balances below each item. (Note: The beginning Equipment account balance is $0.)
Note: See the attached excel file for the set-up.
(b) Show the impact (increase or decrease) of the January transactions on the beginning balances, and total all columns to show that assets equal liabilities plus stockholders' equity as of January 31.
Note: See the attached excel file for how the impacts are shown and the total of all columns
Also Note: See the lower part of the attached excel file to see that assets equal liabilities plus stockholders' equity as of January 31 where we have:
Assets = Liabilities plus stockholders' equity = $18,340
You did not mention the possible answers, however, a federal system of a government is when there are many states or autonomous regions that each have their own laws and small governments, but they all belong to a large federation where there is a federal government which makes laws and decisions on a larger scale that apply to all states that are members of the federation.
Hello beauty! The answers would be increase and decrease :)
Answer:
It should continue the production in the short-run.
Explanation:
Given the unit produced by Mars Inc. = 100000 boxes.
The selling price of boxes = $4 per box.
The variable costs = $3 per box.
The fixed costs = $150000
The total sales revenue = number of boxes × selling price
= 100000 × 4
= $ 400000
In the short run, the firm should continue its production because it still covers the variable costs.