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Liono4ka [1.6K]
3 years ago
7

The town of Conway opened a solid waste landfill several years ago that is now filled to capacity. The city initially anticipate

d closure costs of $2 million. These costs were not expected to be incurred until the landfill is closed. What is the final journal entry to record these costs assuming the estimated $2 million closure costs were properly recorded and the landfill is accounted for in an enterprise fund?
A)

Expense—Landfill Closure

2,000,000



Landfill Closure Liability

2,000,000

B)

Landfill Closure Liability

2,000,000

Expense—Landfill Closure

2,000,000

C)

Expense—Landfill Closure

2,000,000

Cash

2,000,000

D)

Landfill Closure Liability

2,000,000

Cash

2,000,000

E)

Expenditure- Landfill Closure

2,000,000

Cash

2,000,000

Entry A.

Entry B.

Entry C.

Entry D.

Entry E.
Business
1 answer:
natulia [17]3 years ago
4 0

Answer:

Option D

Landfill Closure Liability  2,000,000

Cash  2 ,000,000

Explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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Answer: NO. His approach to motivating employees is NOT ETHICAL.

Ethical is relating to the accepted principles of right and wrong, especially those of some organization or profession.

In any Organisation or morally, lying is wrong. Being ethical means conforming to accepted moral standards. Morally, lying is wrong. That's exactly what Tom Klem has done here.

3 0
3 years ago
Felix Incorporated has just exchanged 1,250 shares of $65 par-value preferred stock for a parcel of land advertised for a price
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Answer:

Dr Land account 90,000

Cr Preferred Stock account 81,250

Cr Paid-in Capital in Excess of Par Value - Preferred Stock account 8,750

Explanation:

When preferred stock is sold, the transaction must be recorded at par value in the preferred stock account. Any amount of money received over par value, must be recorded in the paid-in capital in excess of par value - preferred stock account.

7 0
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"Suppose you wish to have $5,500 in 18 years. Use the present value formula to find how much you should invest now at 6% interes
Irina-Kira [14]

Answer:

The amount of investment should be $1926.891 approximately

<u>Explanation:</u>

The following formula has been used to calculate the amount of investment

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Hence , applying the formula, we get,

$5500 = P (1+6/100) ^18

Hence P=$5500/ (1.06) ^18

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7 0
3 years ago
Gross private domestic investment includes business: a. purchases of capital goods, all new construction, and inventory investme
olganol [36]

Answer:

a. purchases of capital goods, all new residental constructionand inventory investment

Explanation:

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A popular soft drink is sold in 2​-liter ​(​2000-milliliter) bottles. Because of variation in the filling​ process, bottles have
saul85 [17]

Answer:

The answer is below.

Explanation:

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z=\frac{x-\mu}{\sigma}\\\\where\ x=raw\ score, \mu=mean,\sigma=standard\ deviation\\\\For\ a\ sample\ size(n):\\\\z=\frac{x-\mu}{\sigma/\sqrt{n} }

a) Given that n = 100, μ = 2000, σ = 18

For x < 1995 millimeters:

z=\frac{x-\mu}{\sigma/\sqrt{n} }=\frac{1995-2000}{18/\sqrt{100} }  =-2.78

From the normal distribution table, P(x < 1995) = P(z < -2.78) = 0.0027

b) P(z > z*)  = 10% = 0.1

P(z < z*) = 1 - 0.1 = 0.9

z* = 1.28

z*=\frac{x-\mu}{\sigma/\sqrt{n} }\\\\1.28=\frac{x-2000}{18/\sqrt{100} }\\\\x-2000  =-2.304\\\\x=2002.3\ ml\\\\

From the normal distribution table, P(z < z

6 0
3 years ago
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