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Leokris [45]
3 years ago
5

Excel City has $1,000,000 of 8%, 10 year general obligation bonds outstanding. The bonds were issued on October 1, 20x8 to finan

ce construction of city park improvements. Interest is payable semiannually on October 1 and April 1. The bonds also require an annual principal payment of $100,000 each April 1. What amount of debt service expenditures should the government report in its Debt Service Fund for the year ended December 31, 20x9?
Business
1 answer:
deff fn [24]3 years ago
3 0

Amount of debt service expenditures should the government report in its Debt Service Fund for the year ended December 31, 20x9 is $176,000

Explanation:

The Debt Service Fund recognises both interest expenses and main expenditures.

Debt service expenses are not normally accrued at the end of the year, but are recorded as debts.

In 20x9 the Debt Service Fund paid a total of $176,000-$40,000

Interest and $100,000 principal on April 1 (both Expenditures of the fund) and $36,000 interest on October 1.

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algol13

Answer:

$17,400

Explanation:

Given that,

Purchased cash registers on April 1 = $18,000

Estimated useful life of asset = 5 years

Using straight line depreciation method,

Depreciation:

= (Original cost - Salvage cost) ÷ Estimated useful life

= ($18,000 - $0) ÷ 5

= $3,600 per year

Two months depreciation:

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= $600

Book value of the cash registers on May 31:

= Original cost - Two months depreciation

= $18,000 - $600

= $17,400

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Answer:

a. the development of railroad cars that could haul cattle.

Explanation:

The abrupt end of long distance cattle drives in 1885 was primarily due to the development of railroad cars that could haul cattle.

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It was logical that as the railroads expanded to meet the cattle drive, one had to give way to the other because cattle do stray and trains could haul cattle

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Explanation:

hoped this helped

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