GASB statement is the highest level of authorities rules for state and local government accounting.
Government Accounting Standard Board statements and interpretations are the best levels of authority beneath GASB's GAAP hierarchy as established via GASB Statement No. 76, The Hierarchy of typically accepted Accounting ideas for the country and nearby Governments, that's effective for FY 2016.
This concept statement is considered one of a series that the GASB has issued or will problem. Concepts Statements are intended to offer a conceptual framework of interrelated goals and essential principles that can be used as a foundation for organizing constant accounting and financial reporting requirements.
Required governmental fund statements are a balance sheet and an announcement of sales, costs, and modifications in fund balances. Required proprietary fund statements are an assertion of internet assets; an assertion of revenues, prices, and modifications in fund internet property; and a statement of coins flow.
Learn more about Government Accounting Standard Board here brainly.com/question/20757640
#SPJ4
Explanation:
The Journal entry is given below:-
1 January 2020 No Entry
31 December 2020 Compensation Expense Dr, 6,580
To, Paid-In-Capital 6,580
(Being the compensation expense stock-option plan is recorded)
Working Note:-
Compensation Expense
= $7 × 4,700 ÷ 5
= $7 × 940
= $6,580
At a nominal interest rate of i i convertible semiannually, an investment of 1,000 immediately and 1,500 at the end of the first year will accumulate to 2,600 at the end of the second year. Calculate i i.
I think it could possibly be d?
