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Andreyy89
3 years ago
11

Under the modified accrual basis of accounting used by the General Fund, financial resources are considered available if the rev

enue or other financing source is expected to be collected
A. Within 60 days after year-end.

B. Within 90 days after year-end.

C. During the current fiscal period.

D. During the current fiscal period or a reasonable time after year-end defined by each individual government.
Business
1 answer:
patriot [66]3 years ago
6 0

Answer:

D. During the current fiscal period or a reasonable time after year-end defined by each individual government.

Explanation:

Modified accrual basis makes use of the accrual and cash basis of accounting.

It is used to monitor flow of funds in government finance books.

The resource recognition is done as defined by the government within the fiscal year or after.

Estimation of cash flow is done as soon as funds is available to fund government expenditure.

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An investor purchased a property for $350,000. The investor paid a $150,000 down payment and obtained a $200,000 mortgage. The g
mylen [45]

Answer:2.68

Explanation:

divide the income into the expenses

8 0
2 years ago
Javier is currently paying ​$1 comma 200 in interest on his credit cards annually.​ If, instead of paying​ interest, he saved th
Cloud [144]

Answer:

after 9 years:

FV $15,625.2437

in 14 years:

FV $31,223.0270

last, at the nineteenth year:

FV $55,222.1501

Explanation:

We have to solve for the annuity of 1,200 dollar with a yield of 9% at the proposed times:

C \times \frac{(1+r)^{time}-1 }{rate} = FV\\

C 1,200.00

time 9

rate 0.09

1200 \times \frac{(1+0.09)^{9} -1}{0.09} = FV\\

FV $15,625.2437

time = 14

1200 \times \frac{(1+0.09)^{14}-1 }{0.09} = FV\\

FV $31,223.0270

time = 19

1200 \times \frac{(1+0.09)^{19} -1}{0.09} = FV\\

FV $55,222.1501

8 0
3 years ago
Flounder Corporation owns machinery that cost $26,400 when purchased on July 1, 2017. Depreciation has been recorded at a rate o
Alecsey [184]

Answer:

A. Dr Depreciation Expense $2,123

Cr Accumulated Depreciation $2,123

B. Dr Cash $13,860

Dr Accumulated Depreciation$13,211

Cr Machiner$26,400

Cr Gain on Disposal of Machinery$671

Explanation:

Preparation of the journal entries to (a) update depreciation for 2021 and (b) record the sale.

A. Preparation of the journal entries to (a) update depreciation for 2021

Dr Depreciation Expense $2,123

Cr Accumulated Depreciation $2,123

(3185*8/12)

B. Preparation of the journal entries to record the sale

Dr Cash $13,860

Dr Accumulated Depreciation$13,211

($11,088+$2,123)

Cr Machiner$26,400

Cr Gain on Disposal of Machinery$671

[($13,860+$13,211)+$26,400]

7 0
3 years ago
The majority of private sector employment in the u.s. economy is in the
sasho [114]
The majority of private sector employment in the u.s. economy is in the services.
The private sector is the part of the economy, generally pertain to as the citizen sector. Which is ruled by private individuals or groups, usually as a means of firm for profit and it is not regulated by the State.
6 0
3 years ago
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collect
dangina [55]

Answer:

The correct option : B. Cost = $ 130.00 + $ 5.90 x Machine - hours

Explanation:

Let's use the following method to solve the given problem

Now applying the high-low method of cost estimation,

High => November, 5,300 machine hours

Low => March, 2,300 machine hours

Arranging it in a simultaneous equations for total cost:

We can let fixed cost per month to be F, and the variable cost per machine -hour be V, and the number of machine-hours be Q.

Therefore

Total cost = F + VQ

High => F + 5,300Q = $ 31,400

Low => F + 2,300Q = $ 13,700

Subtracting Low from High, we have 3,000Q = $ 17,700 or Q = $ 5.90 per machine hour ................equation one

F = $ 13,700 - ( 2,300 x $ 5.90) = $ 130......................................................................equation two

6 0
3 years ago
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