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r-ruslan [8.4K]
3 years ago
5

Which of the following financial statements must special-purpose governments include in their financial statements if the specia

l purpose government is engaged in both governmental and business-type activities or in more than one governmental activity? Multiple Choice a.Government-wide financial statements. b.Fund basis financial statements. c.Both of the above. d.Neither of the above.
Business
1 answer:
Valentin [98]3 years ago
6 0

Answer:

C) Both of the above.

  • a.Government-wide financial statements.
  • b.Fund basis financial statements.

Explanation:

Government wide financial statements basically include all the government's funds and accounts. They are generally reported all the financial transactions of the government during the year.

Fund based financial statements generally only report a specific fund's financial statement. The accounting basis for each fund might vary depending on the specific fund which is being reported. they also provide more detailed information about the specific activities included in the fund.

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$342,000

 Regardless if the amount of supplies has not been paid or not, it is still accounted for in the balance sheet. You would have a debit of 342,000 for supplies, credit of supplies payable of 240,000 and a credit to cash for 102,000 assuming that the difference between both amounts was paid for with cash.


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3 years ago
Does anyone know the answers in this chapter???
bazaltina [42]

I saw on quizlet.com that the answer to this question is $199,000 and that number appears to be one of your choices. If I were you I would choice C.

8 0
3 years ago
Read 2 more answers
Bishop, Inc., is obligated to pay its creditors $8,900 during the year. a.What is the market value of the shareholders' equity i
Contact [7]

Answer:

The answer is $1,500

Explanation:

Accounting equation can be stated as follows:

Equity = Asset - Liability

Asset = Equity + Liability

Liability = Asset - Equity.

What a firm is obligated to pay its creditors is known as a liability and its value in the question is $8,900

The assets owned by the company totalled $10,400

Now to find market value of the shareholders' equity, we use:

Equity = Asset - Liability

$10,400 - $8,900

= $1,500

7 0
3 years ago
Raising Bulls, Inc., has current assets of $5,100, net fixed assets of $23,800, current liabilities (payables and accruals) of $
Elenna [48]

Answer:

<em>Total Shareholders’ Equity</em>

Total Shareholders’ Equity = Total Assets − Total LiabilitiesTotal

Shareholders’ Equity = {(Current Assets + Net Fixed Assets) − (Current liabilities + Long term debt)}

Total Shareholders’ Equity = {($5,100 + $23,800) − ($4,300 + $7,400)}

Total Shareholders’ Equity = $28,900 − $11,700

Total Shareholders’ Equity = <u><em>$17,200</em></u>

<em>Net-working capital?</em>

Net-working Capital = Current assets - Current liabilities

Net-working Capital = Current assets - Current liabilities (payables and accruals)

Net-working Capital = $5,100 - $4,300

Net-working Capital = <u><em>$800</em></u>

<u><em /></u>

<em>If you find this helpful rate be brainliest please. Thanks. </em>

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3 years ago
What economic system is demonstrated by the work at the New York Stock Exchange?
Alja [10]
Strong feeling its Capitalism.
6 0
3 years ago
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