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borishaifa [10]
3 years ago
12

The budget for the City of Goodville for the year ending December 31 was adopted and recorded on January 2 of the same year. Aft

er recording the budget, the accounting records showed a debit balance of $50,000 in the Budgetary Fund Balance account. What does this indicate?
Business
1 answer:
scoray [572]3 years ago
3 0

Answer:

See below

Explanation:

A budgetary fund is an income account and thus a debit balance suggests a deficit on the fund account. This means that governing bodies of City of Goodville have spent more money in their expenditures than they have brought in as income from the fund. This will be recorded as a liability in the balance sheet. Where as a credit balance would be a surplus and recorded as  an asset.

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The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports
Arada [10]

Answer:

a. $6,400.

Explanation:

In solving this question on Computing the amount of Purchasing department expense to be allocated to Assembly, we'll have to use the formula below:

Purchasing department expense to be allocated to Fabrication = Total Cost of purchasing department X number of purchase order in / Total numbers of purchase orders in all operating departments

= $32000 X 4/20 = $6,400

3 0
3 years ago
Many countries engage in trade protection by imposing import tariffs or quotas for at least some goods. this is because:
kobusy [5.1K]
I think the answer here would be D
6 0
3 years ago
Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrep
son4ous [18]

Answer:

The options are wrong,find below correct multiple choices:

$605,000

$825,000

$655,000

$150,000

The correct option is $605,000

Explanation:

Explicit costs are costs  incurred  that require actual cash settlement not costs of alternative forgone as in the case of implicit costs.

There is only example of explicit cost for Harvey Business in the first year of operation,which is the cost of production,packaging,marketing,employee wages and benefits and rent on a building.

In other words,the explicit costs incurred in year one =$55*11,000 units

                                                                                          =$605,000

The correct option  is the of those ones provided above.

3 0
3 years ago
Ajax Corp., an American company, owns a factory in China. Managers often report back to headquarters in the U.S. that Chinese go
Luden [163]

Answer:

The correct answer is bureaucratic.

Explanation:

Bureaucracy is the organization or structure that is characterized by centralized and decentralized procedures, division of responsibilities, work specialization, hierarchy and impersonal relationships. The term is used in sociology, in administrative science and, especially, in public administration. It could be defined as a set of techniques or methodologies arranged to learn or rationalize the external reality (to which it intends to control the central power) in order to know it and call it in a standardized or uniform way. A clear example of this characteristic of bureaucracies, particularly those of government, is the hiring and assignment or removal of personnel, that is, officials, according to explicit criteria and relevant to the performance of duties.

4 0
3 years ago
Ben and Carla Covington plan to buy a condominium. They will obtain a $225,000, 30-year mortgage at 7.5 percent. Their annual pr
lana66690 [7]

Answer:

<u>Monthly housing payment 2,033.22</u>

Explanation:

We need to calculate the monthly cuota of the mortgage

It will be the cuota of a 30 year annuity at 7.5 rate

PV \div \frac{1-(1+r)^{-time} }{rate} = C

We should convert the year in month and the rate in monthly, because the payment are monthly.

time= 30 year so 30 x 12 = 360 months

rate = 0.075 / 12 = 0.00625 monthly

Present Value = 225,000

225,000 \div \frac{1-(1+0.00625)^{-360} }{0.00625} = C

C = $1,573.23

Now we will calculate the propert taxes, insurance per month

2,050 /  12 = 170.83

530   /   12  =   44.16

1,573.23 + 170.83 + 44.16 + 245 = 2,033.22

7 0
3 years ago
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