1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Allushta [10]
3 years ago
6

The City of Grand Marais' fiscal year ends on June 30. Grand Marais uses encumbrance accounting. On May 6, a purchase order was

approved and issued for supplies in the amount of $6,000. Grand Marais received these supplies on June 2, and the $6,000 invoice was approved for payment. What General Fund journal entry should Grand Marais make on May 6, to record the approved purchase order
Business
1 answer:
Semenov [28]3 years ago
7 0

Answer:

Debit Encumbrances with $6,000 ; and Credit Budgetary Control also with $6,000 .

Explanation:

Encumbrance accounting is an accounting technique that is mainly employed to ensure that overspending of the taxpayers' money is avoided.

The journal entries will appear as follows in the book of the City of Grand Marais on May 6 as follows:

<u>Details                                        Dr ($)             Cr ($)          </u>

Encumbrances                         6,000

Budgetary Control                                           6,000

<em><u>To record the approval of a purchase order for supplies</u></em>

You might be interested in
Changing prices to attract customers is most difficult in a
dsp73
Changing prices to attract customers is most difficult in a "<span>purely competitive market"

Hope this helps!</span>
8 0
3 years ago
In a department meeting, Javier shares some research on new software he thinks the company should purchase. Roger agrees with Ja
nirvana33 [79]

Answer:

Elaborator is the correct answer.

Explanation:

In this example, Roger takes Javier's initial idea, which includes the suggestion of buying new necessary software for the company. Roger fits the description of an elaborator, who builds examples (Roger's own experience with the software and how it'd be the best option) based on initial ideas (Javier's suggestion).

3 0
3 years ago
In a negotiation, to allow for concessions, the expectations expressed in the seller team's opening position should be:
ser-zykov [4K]

In a negotiation, to allow for concessions, the expectations expressed in the seller team's opening position should be higher than its target position

Option B

<u>Explanation: </u>

Negotiation is a political dialogue that addresses a problem in a way acceptable to both sides. That group tries in a discussion to convince the other to adhere to its views. Both parties involved tend not to argue, rather seek to find some kind of agreement by mediation.

Talks require others, so that one side is always in the forefront of the talks. Nevertheless, even when the concession is marginal, the other should surrender.

Negotiation parties can differ. These may include negotiations between purchasers or even between the government of several or more nations, employers and future employees.

6 0
4 years ago
Why is the just war theory considered a middle path between realism and pacifism?
alexira [117]

Answer: it is considered a middle path between realism and pacifism because it states that violence or military force can only be used in very specific occurrences. And that military force can only be used in cases in self defense or to protect civilIan’s.

Explanation:

4 0
3 years ago
When making college visits, you may be able to...
TEA [102]
To stay on campus or visit important places
8 0
3 years ago
Read 2 more answers
Other questions:
  • Anne has chosen how many bagels and how many units of cream cheese she would buy this month. She has $20 to spend on these two g
    9·1 answer
  • Rogers, Inc., acquires 15% of Procter Corporation on January 1, 2020, for $70,000. During 2020, Procter reported net income of $
    11·1 answer
  • Barnard, Inc.'s 2010 income statement lists the following income and expenses: EBIT = $500,000, Interest expense = $45,000, and
    7·1 answer
  • Pharoah Company on July 15 sells merchandise on account to Sarasota Co. for $3100, terms 2/10, n/30. On July 20 Sarasota Co. ret
    13·1 answer
  • Determine the total cost for this plan given the following forecast:
    13·1 answer
  • Robert sold his Lebec Corporation stock to his sister Karen for $8,000. Robert's cost basis in the stock was $15,000. Karen late
    6·1 answer
  • An aging of a company's accounts receivable indicates that the estimate of uncollectible receivables totals $7,900. If Allowance
    12·1 answer
  • OFFERING 20 POINTS Whitney's proposal to build 10,000 guns relied on what two important elements found in the modern manufacturi
    10·1 answer
  • Stephen bought 85 shares of United Rotators at $6. 34 each, 110 shares of Dowc Beverage Co. At $13. 13 apiece, and 133 shares of
    15·1 answer
  • Tyro has the right to drive across ula's land, which is next to tyro's property, to reach an access road. tyro's right is:____.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!