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KiRa [710]
3 years ago
7

A government has the following debt: Capital lease liabilities that mature in more than one year (General Fund department leases

)-$2,000,000. Net pension liability associated with general government employees-$4,000,000. General government bonds that mature in the next fiscal year-$14,000,000. What amount of debt should be reported in the long-term liabilities in the government-wide financial positions?
Business
1 answer:
leva [86]3 years ago
6 0

Answer:

Total debt= $20,000,000

Explanation:

Long term liabilities are what the government owes that are due in more than one year.

All the stated items are unmatured long term liabilities that will appear on the government wide financial position.

Although these items will not be recorded in government general funds.

Therefore

Total debt = Capital lease liabilities that mature in more than one year + Net pension liability associated with general government + General government bonds that mature in the next fiscal year

Total debt= 2,000,000+ 4,000,000+ 14,000,000

Total debt= $20,000,000

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Answer: interactional

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When Paul listened to the presidential candidate debates, he heard one candidate proposing to increase taxes and the other candi
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as taxes increase, there is a decrease in supply

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On August 1, 2018, Deeva, Inc., sold equipment and accepted a six-month, 9%, $50,000 note receivable. Deeva's year-end is Decemb
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Answer:

$1,875

Explanation:

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Interest amount:

= Principle amount × Interest rate × Time period

= $50,000 × 0.09 × (6/12)

= $2,250

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4 0
3 years ago
Using the Business Process Pragmatism procedure as part of his decision making process, Trevor first should perform a(n) _______
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Answer: Inquiry

Explanation:

According to the given question, by using the procedure of the business process for making the various types of decisions and the Trevor should perform the inquiry process for determining the ethical and some legal issues.

 The inquiry is one of the type of approach that is helps in developing the problem solving ability and also the information processing.

It is the process that has ability for resolving various types of problems or ussies by implementing a compliance policies.    

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5 0
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Anchor Company purchased a manufacturing machine with a list price of $93,000 and received a 2% cash discount on the purchase. T
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Answer:

$100,340

Explanation:

<em>The amount of cost recorded in the asset account would be:</em>

List price                                    $93,000

Less: Discount ($93,000*2%)   $1,860

Add: Freight                               $3,800

Add: Installation&Testing          <u>$5,400 </u>

Cost of the machine                 <u>$100,340</u>

Note: Insurance cost is not included in the cost of the machine

6 0
3 years ago
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