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
OlgaM077 [116]
3 years ago
14

The City of Southern Pines maintains its books so as to prepare fund accounting statements and records worksheet adjustments in

order to prepare government-wide statements. As such, the City’s internal service fund, a motor pool fund, is included in the proprietary funds statements. Balance sheet asset accounts include: Cash, $102,000; Investments, $150,400; Due from the General Fund, $18,300; Inventories, $396,000; and Capital Assets (net), $1,169,700. Liability accounts include: Accounts Payable, $61,500; Long-Term Advance from Enterprise Fund, $738,000. The only transaction in the internal service fund that is external to the government is interest revenue in the amount of $4,400. Exclusive of the interest revenue, the internal service fund reported net income in the amount of $84,000. An examination of the records indicates that services were provided as follows: one-third to general government, one-third to public safety, and one-third to public works. Prepare necessary adjustments in order to incorporate the internal service fund in the government-wide statements as a part of governmental activities. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Business
1 answer:
Andrei [34K]3 years ago
3 0

Answer: The answer has been attached

Explanation:

The journal is a book in accounting that is used to record the transactions that affect a business. It should be noted that the double entry method of bookkeeping is utilised while recording in a journal.

The journal has been attached in the following way:

1. The journal was used to record the balance sheet particulars.

2. To record the transaction in the internal service fund that is external to the government.

3. To record the internal service fund in the government-wide statements as a part of governmental activities.

It should also be noted that the net income of $84,000 was to be shared as one-third to general government, one-third to public safety, and one-third to public works. This means they'll all receive ($84,000/3) = $28,000 each.

Further explanation can be found in the attached file.

You might be interested in
PLEASE HELP ASAP!!! What was the former name of the TSA? When was the TSA founded and why? What is the motto of the TSA? What is
Vitek1552 [10]

Answer:

#1 Former name was  the American Industrial Arts Association (AIASA)

#2 Founded in November 19, 2001  and it was formed in response to the September 11 attacks to prevent from future events of that type.

#3 "Learning to lead in a technical world."

#4 " TSA's mission is to protect the nation's transportation systems to ensure freedom of movement for people and commerce"

5 0
3 years ago
Look at the table price elasticity. what is the price elasticity of demand (using the midpoint formula) between $2.50 and $2.25?
hodyreva [135]
The difference is .25
8 0
3 years ago
Monopolistic competitors in the food industry, acting in their own self-interest, will often include a recyclable symbol on pack
anygoal [31]

Answer:

Differentiate their products

Explanation:

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

examples of monopolistic competition are restaurants

A monopolistic firm in the food industry acting in their own self-interest, will often include a recyclable symbol on packaging used for their product to Differentiate their products. This is meant to communicate to consumers that they are different from other firms in the industry

5 0
3 years ago
Tri-coat Paints has a current market value of $50 per share with earnings of $5.97. What is the present value of its growth oppo
Gnesinka [82]

Answer: $0.25

Explanation:

Fron the question, we are informed that Tri-coat Paints has a current market value of $50 per share with earnings of $5.97. We are further told that the required return is 12%.

The present value of its growth opportunities (PVGO) will be:

= $50 - ($5.97/12%)

= $50 - ($5.97/0.12)

= $50 - $49.75

= $0.25

Therefore, the present value of its growth opportunities (PVGO) if the required return is 12% is $0.25.

6 0
3 years ago
In the United States, sole proprietorships and partnerships outnumber corporations.a. Trueb. False
lianna [129]

Answer:

a. True

Explanation:

The sole proprietorship and partnerships outnumber corporations in United States but they net fewer sales and less income than corporations, individually and when combined.

8 0
3 years ago
Other questions:
  • Antonio has a number of employees who report to him. he has been considering how to motivate these employees to higher levels of
    9·1 answer
  • Aditya is attempting to classify information regarding a new project that his organization will undertake in secret. which chara
    11·1 answer
  • On May 31, 20X1, the Arlene Corporation adopted a plan to sell its cosmetics line of business, considered a component of the ent
    9·1 answer
  • A firm produces 400 units of output at a total cost of $1,200. If total variable costs are $1,000, Group of answer choices avera
    5·1 answer
  • Growing pains can arise from implementing a matrix organization due to
    9·2 answers
  • What is the conversion of real property to personal property by detaching it from the real estate called?
    6·1 answer
  • There is an old American adage (saying): If you owe the bank a small amount of money, the bank controls you. If you owe the bank
    5·1 answer
  • Kevin Chitry, a sales executive for CIT Manufacturing, frequently took clients out for dinner and shows when they came to town t
    14·1 answer
  • Credit reports will include
    9·1 answer
  • The Nellie Company has provided the following information: Operating expenses were $115,000; Gross profit was $629,000; Cost of
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!