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allsm [11]
3 years ago
6

If you were planning a budget, which amount would you use to record your income?

Business
1 answer:
d1i1m1o1n [39]3 years ago
4 0
Money that’s the amount you would use
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Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the pe
Len [333]

Complete Question:

The Town of Elizabeth operates the old train station as an enterprise fund. The train station is on the national register of historic buildings.  Since the town has held the building for such a long time, the Central Station Fund has no long-term debt.  The only capital assets recorded by the Central Station Fund are machinery and equipment.  Businesses rent space in the building and the town provides all services related to the operation and maintenance of the building.  Following is information related to the fund's 2017 operating activities:

1. Rental income of $94,444 was accrued.  Subsequently, cash in the amount of $90,210 was received on accounts.

2. Cash expenses for the period included: administrative services, $25,205; maintenance and repairs, $72,882; supplies and materials, $7,792 and utilities $30,124.

3. The Central Station Fund received a $60,000 transfer of funds from the General Fund.

4. Adjustments were made for depreciation ($3,519) and for uncollectible accounts ($667).

5. At the end of the period, nominal accounts were closed.

Required: (b only)

Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the period was $60,129.

Answer:

The Central Station Enterprise Fund

Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 20XX:

Rental Income                   $90,210

Expenses:

Administrative services    25,205

Maintenance & Repairs    72,882

Supplies & Material             7,792

Utilities                               30,134

Total Expenses              $136,193

Excess Expenses            (45,983)

Transfer from

 General Funds              60,000

Beginning balance           60,129

Ending Balance              $74,146

Explanation:

The Central Station Enterprise Fund's statement of revenues, expenses, and changes in fund balances is the governmental funds' income statement.  It tracks the inflow and outflow of resources.  The statement does not only report revenues and expenses, it also reports inflows and outflows of resources like the transfer of funds received from the General Fund, including the beginning fund balance.  Together, these will result to an ending fund balance.

8 0
3 years ago
Susan leads a product innovation team. Her team meetings usually involve heated arguments, and many of the team members are know
sesenic [268]

Answer:

D. cognitive conflict

Explanation:

Cognitive conflict is a kind of conflict that arises due to someone who tends to provide information different from the one believed by the individual. Basically when one tries to alter the perception an individual has towards any kind of topic and that the belief is tried to be changed by providing extra information, then the individual might get into "cognitive conflict".

As the conflict does not result in any kind of permanent differences but rather just for that particular topic the individual feels to be in different opinion.

7 0
3 years ago
I met a girl and she said '' omg, are you a cookie?''<br> then she show this image to me..
Verizon [17]

Answer:

very confused but okayyyy

3 0
2 years ago
Consider a mutual fund with $300 million in assets at the start of the year and 10 million shares outstanding. The fund invests
djyliett [7]

Answer: Start = $300 million

End = $318.59 million

Explanation:

NAV can be calculated by dividing the funds Assets net of Liabilities by the total number of outstanding shares.

At start of the year NAV is $300 million and NAV per share is therefore,

= 300 million/ 10 million

= $30 per share.

Ending NAV

During the year the fund made Investments and increased by a price of 7%

= 300 million (1 + 0.07)

= $321 million

We still have to subtract the 12b-1 fees that the fund charges though and that would result in,

= 321 million * (1 - 0.0075)

= 318.5925

= $318.59 million.

Dividing this by the total number of outstanding shares we have,

= 318.59 /10

= $31.86

$31.86 is the NAV per share at year end.

5 0
3 years ago
Finance is best defined as
IRINA_888 [86]

Answer:

the management of money and things that are worth money.

Explanation:

Finance is best defined as the management of money and things that are worth money.

7 0
3 years ago
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