Answer:
Expenditures $300,000; Supplies inventory $150,000.
Explanation:
The consumption method recognizes an asset when an item is purchased and an expense when an item is used or consumed. Therefore, when supplies are first bought, Supplies Inventory has a balance of $450,000.
After using those supplies during the year, $300,000 should be debited from Supplies Inventory and credited to Expenditures.
Therefore, at fiscal year-end, the appropriate account balances on the General Fund financial statements would be: Expenditures $300,000; Supplies inventory $150,000.
Answer: The Contract is valid.
Explanation:
Under the UCC’s Statute of Frauds, transactions above $500 for goods cannot be made orally alone and have to be written in writing as well. This is the law that Rosenfield relied on.
However, Fallsview can argue that the Passover Retreat is not a Good, but rather a Service in which case it does not fall under the Statute.
The main bone of contention thereby becomes, if indeed it is a service or a good.
If it is a Hybrid of both, then the Court needs to decide if the services outweigh the goods involved.
From the text we see that the following were included in the package, food, entertainment, and lectures on religious subjects.
Food is the only good there and is outweighed by Entertainment and lectures on religious subjects.
As such, the contract is valid as it is for more service than good.
Answer:
$40,000
Explanation:
The accounting procedure involved in the above is that one picks the lower between the actual interest incurred and the interest computed on the weighted average amount of accumulated expenditures for PPE.
The actual interest incurred on specific construction debt and other borrowings
= $50,000 + $20,000
= $70,000
Since the interest computed on the weighted average amount of accumulated expenditure for the building is $40,000 , the lower between the actual interest incurred and interest on weighted average amount of accumulated expenditure is $40,000, hence will be the capitalized amount.
Spiritually, risky behavior can truly take a toll. If you are religious, your actions won’t be in line with your beliefs (most likely). There is a trickle down effect from there. Lots of times, risky behavior makes a person feel paranoid because a person is doing things s/he feels is wrong. All of that takes a toll on a person physically. When you compromise yourself, you will tend to be on an emotional roller coaster. Not a great way to live
Frictional unemployment is the result of voluntary employment transitions within an economy.
