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Ratling [72]
3 years ago
9

A city sells $15 million of general obligation bonds on October 1, 2019. The bonds mature at the rate of $1 million a year each

September 30, starting September 30, 2020. The amount due September 30, 2020 is paid. How much should the city report as outstanding debt in the Debt Service Fund in its year-end fund level financial statements on December 31, 2020?
Business
1 answer:
alexgriva [62]3 years ago
4 0

Answer:

The multiple choices are:

a.$15,000,000

b.   $14,000,

c.    $13,750,000

d.   $0

The correct option is D,$0

Explanation:

The city by all standards should have adopted a modified accrual basis of accounting where amounts owed in terms of principal and interest payments are not recorded in the necessary books of accounts until they become due.

As at 30,2020,the amount due in respect of the loan has been recorded and paid off,hence as at 31st December,2020,no amount is due in respect of the general obligation bonds issued,hence no recording would be effected until next obligation date when the amount to be paid is due

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To: Ellen Stanford From: Thomas Gregory [1] Proposed Agenda for November 6 Meeting Dear Ms. Stanford, [2] Please review the foll
puteri [66]

Answer:

Parts of Email:

Part 2 of the email is part of Introduction and Details as explained below.

Explanation:

Emails can be divided into six major components:

1. Subject Line: Proposed Agenda for November 6 Meeting

2. Greeting: Dear Ms. Stanford

3. Intro/Purpose: Please review the following agenda for our next shareholder meeting and recommend any changes.

4. Details: Agenda for our next shareholder meeting

• Rising stock prices

• Discussion of new investors

• Portfolios and new funding

• Introduction of new vice-president

5. Ask/Action: Please send any changes to the agenda to me by 3:00 p.m., November 3.

6.Closing/Sign-off:  Many thanks, Thomas Thomas Gregory Financial Analyst Office: 854.454.4356 Fax: 435.458.9738 Cell: 834.435.8490

8 0
2 years ago
Theresa and Bobbi bought a racecar together. They agreed to share all expenses and split net profits equally. There was no agree
mestny [16]

Answer:

<em>No she is not, a partner has the right to quit the partnership at any moment in a partnership at will. </em>

Explanation:

General partners get the option and ability to leave the joint venture at whatever moment, whereas limited and restricted partners are only allowed to leave the partnership in accordance with the terms of the partnership agreement.

Bobby is in accordance with the law to leave whenever, and hasn't broken any agreement.

Whenever a general or limited partner chooses to leave the joint venture, the business continues to remain unless it has been agreed by all partners to dissolve.

5 0
3 years ago
Currently digby is paying a dividend of $19.67 (per share). if this dividend were raised by $3.64, given its current stock price
umka2103 [35]

The dividend yield for Digby is $23.33

<h3>What is Dividend Yield?</h3>
  • A financial ratio (dividend/price) called the dividend yield, which is stated as a percentage, demonstrates how much a firm pays in dividends annually in relation to the price of its stock.
  • Price/Dividend, often known as the dividend yield ratio, is the counterpart of dividend yield.
  • The amount of money a firm pays shareholders for owning a share of its stock divided by its current stock price is known as the dividend yield, which is represented as a percentage.
  • The majority of mature corporations pay dividends.
  • The dividend yields of businesses in the consumer goods and utility sectors are frequently greater than average.
  • The dividends from real estate investment trusts (REITs), master limited partnerships (MLPs), and business development corporations (BDCs) are taxed more heavily than the typical dividend.

Explanation:

Given that

Dividend per share = $19.69

Increase in Dividend = $3.64

Using this formula

Dividend yield = Dividend per share + Increase in Dividend

Dividend yield = $19.69+$3.64

Dividend yield =$23.22

Therefore the Dividend yield will be $23.22

To learn more about Dividend yield with the given link

brainly.com/question/28044310

#SPJ4

6 0
2 years ago
The following information is taken from the income statement of Olympic, Inc.: Depreciation Expense $ 90,000 Amortization Expens
Lina20 [59]

Answer:

The correct option is D,$402,000.

Explanation:

In determining the cash flow provided by operating activities,we need to adjust the net income for effects of non cash items reported.It is important  to note that the reverse of the earlier treatment of the items is what is required now.For instance depreciation and amortization  were deducted in  income statement,for cash flow purposes we need to add both to net income.

Net income                          $315,000

add depreciation                $90,000

amortization                         $15,000

loss on sale of equipment  $9,000

less gain on sale of building($27000)

Cash flow from operations  $402,000

The cash flow from operating activities as adjusted is $402,000.

6 0
2 years ago
The Humongous Food Store (HFS) has a turnover ratio of 12. The turnover ratio is revenue divided by average inventory. This mean
Kazeer [188]

Answer: compare his turnover ratio to other grocery stores' ratios.

Explanation: The manager should "compare his turnover ratio to other grocery stores' ratios" since Humongous Food Store (HFS) is losing money but have a turnover ratio of 12.

A turnover ratio of 12 means that they sold everything in the store once per month. Turnover ratio is the percentage of mural fund or portfolio holdings that have been replaced in a given year or 12 months period.

8 0
2 years ago
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