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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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Supervisors who allow their rating in one area to influence their rating in another area on performanceappraisals are susceptibl
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4 0
3 years ago
Westford Corporation has $185 million dollars of interest-bearing debt outstanding at the end of fiscal 2014 year. In addition,
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Answer:

B) 9.1%

Explanation:

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$185million in debt is the face value of debt that Westford Corporation had and the $26 million dollars of interest expense is the cost of the debt in dollars;

First, find pretax cost of debt ;

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6 0
3 years ago
A _____ occurs when two or more transactions wait for each other to unlock data.
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Answer:

Condition of Deadlock

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Therefore, the deadlock condition happens or occurs when 2 or more transactions are waiting for each other to unlock the data.

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7 0
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Answer:

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Explanation:

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3 0
3 years ago
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