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Radda [10]
3 years ago
14

The general fund collects taxes that are legally restricted for use in a future year. The amount of the collections is reported

on the general fund's: A. Balance sheet as a deferred inflow. B. Operating statement as an other financing source. C. Operating statement as revenues. D. Balance sheet as a liability.
Business
2 answers:
stiks02 [169]3 years ago
8 0

Answer:

A. Balance sheet as a deferred inflow.

Explanation:

A deferred outflow of resources is defined as “a consumption of net assets by the government that is applicable to a future reporting period,” and a deferred inflow of resources is defined as “an acquisition of net assets by the government that is applicable to a future reporting period.”

Leases—Gain or loss on a sale and leaseback transaction are recorded as a deferred outflow (loss) or deferred inflow (gain). Points received by the lender in relation to loan origination are reported as deferred inflow of resources. Loan origination fees, other than points, are reported as revenue. Deferred inflows of resources - should be reported as a separate section following liabilities in the statement of financial position.

brilliants [131]3 years ago
5 0

Answer: A. Balance sheet as a deferred inflow.

Explanation:

A general fund is the primary fund used by a government entity. This fund is used to record all resource inflows and outflows that are not associated with special-purpose funds. The activities being paid for through the general fund constitute the core administrative and operational tasks of the government entity

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brussels enterprises issues bonds at par dated january 1, 2021, that have a $2,700,000 par value, mature in four years, and pay
Nadusha1986 [10]

The journal entry for the issuance of bonds for cash on January 1 is: Debit Cash $2,700,000, Credit Bonds payable $2,700,000.

<h3>Journal entry</h3>

1. January 1

Debit Cash $2,700,000

Credit Bonds payable $2,700,000

(To record  issuance of bonds for cash)

2. June 30

Debit bond  Interest expense $81,000

Credit Cash $81,000

($2,700,000×6%/2)

(To record  first semiannual interest payment)

December 31

Debit bond  Interest expense $81,000

Credit Cash $81,000

($2,700,000×6%/2)

(To record second semiannual interest payment)

3. December 31, 2021

Debit Bonds payable $2,700,000

Credit Cash $2,700,000

(To record  payment of bonds payable)

Therefore the journal entry for the issuance of bonds for cash on January 1 is: Debit Cash $2,700,000, Credit Bonds payable $2,700,000.

Learn more about journal entries here:brainly.com/question/14279491

#SPJ1

6 0
1 year ago
Ocean House must use various metrics to measure the benefits of its human capital in order to determine the effectiveness of its
Anettt [7]

Answer:

a.  Human capital return on investment

Explanation:

Human capital return on investment  -

It helps to determine the profit return of the company or organisation on the per unit expenditure on the employees , is referred to as the Human capital return on investment  .

It is basically the interconnection between the profit of the company and the cost on the workforce .

hence , from the given scenario of the question,

The correct option is a.  Human capital return on investment  .

5 0
2 years ago
An investor is in a 30% combined federal plus state tax bracket. If corporate bonds offer 9% yields, what yield must municipals
Yuki888 [10]

Answer:

0.063 or 6.3% (or more)

Explanation:

Given:

Combined Tax Bracket = 30% = 30/100 = 0.30

Yields of corporate Bonds = 9% = 9/100 = 0.09

Yield to Shift Investors to choose municipal bonds = ?

Calculation:

Yield from corporate bond = (After tax yield) x Yield rate of corporate Bonds

                                              = (0.70) x (0.09)

                                              = 0.063 or 6.3%

Working note:

After tax yield = (1 - tax rate )

After tax yield = (1 - 0.30 )

After tax yield = (0.70)

so, they must give 6.3% yield

7 0
3 years ago
Salaries and wages expenses $ 460 Research and development expense $ 114 Depreciation expense 90 Income tax expense 634 Sales re
guapka [62]

Answer:

$ 1,212 Net INCOME

Explanation:

        Income Statement

$ 7,030 Sales

-$ 230 Sales returns and allowances

$ 6,800 Net Sales Revenues

-$ 90 Depreciation expense

-$ 3,400 Cost of goods sold

$ 3,310 Gross PROFIT

-$ 499 Advertising expense

-$ 114 Research and development expense

-$ 460 Salaries and Wages Expenses

-$ 105 Rent expenses

-$ 60 Utilities Expenses

-$ 1,238 Operating EXPENSES

$ 2,072 Operating INCOME

-$ 46 Loss on disposal of plant assets

-$ 161 Interest Expenses

-$ 207 NonOperating EXPENSES

$ 1,865 NET INCOME AFTER TAXES

-$ 653 Income Tax Expenses 35%

$ 1,212 Net INCOME

7 0
3 years ago
Differential Chemical produced 14,000 gallons of Preon and 28,000 gallons of Paron. Joint costs incurred in producing the two pr
Sveta_85 [38]

Answer: $4680

Explanation:

The joint cost allocated to Preon will be calculated below as:

Preon's value will be:

= 14000 × $6.00

= $84000

Paron's value will be:

= 28000 × $2.00

= $56000

Total value = Preon's value + Paron's value

= $84000 + $56000

= $140000

The joint cost allocated to Preon will be

= 7800 × 84000/140000

= $4680

3 0
3 years ago
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