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Veronika [31]
2 years ago
14

During the fiscal year ended June 30, 20X9, the city of Moorhead constructed a new courthouse that was budgeted to cost $5,000,0

00. Moorhead used a capital projects fund to account for the construction activities. In July of 20X8, a bid was accepted from Diamond Construction to build the courthouse for $4,800,000. On June 15, 20X9, Diamond completed construction and submitted a bill to the city for $4,900,000. The city accepted the bill and paid Diamond the entire amount owed, except for a 10 percentage retainage. On the statement of revenues, expenditures, and changes in fund balance prepared for the capital projects fund for the year ended June 30, 20X9, expenditures should be reported at Multiple Choice $4,900,000. $4,800,000. $4,410,000. $4,320,000.
Business
1 answer:
svetoff [14.1K]2 years ago
5 0

Answer:

The correct answer to the following question is option A) $490,000.

Explanation:

In 20X9, June 30 , the city of Moorhead went on to construct a new courthouse whose total budgeted cost was $500,000.

And in July 20X8, the project was given to Diamond construction to build the courthouse for $480,000. And on June 20X9, Diamond completed the courthouse and gave city of Moorhead a bill of $490,000, which they accepted and paid. So the city of moorhead should report their expenses as $490,000 on the statement of revenues, expenditures and fund balance.

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financial freedom

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A corporation following a _________ emphasizing vertical or horizontal growth would probably want an aggressive new chief execut
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If the government wants to expand aggregate demand, it can ________ government purchases or ________ taxes.
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If the government wants to expand aggregate demand, it can "rebate" government purchases or "cut" taxes.

<h3>What is aggregate demand?</h3>

The total quantity of demand for all finished products and services generated in an economy is measured as aggregate demand.

Some characteristics of aggregate demand are-

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3 0
1 year ago
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8 0
3 years ago
At an activity level of 9,200 machine-hours in a month, Nooner Corporation's total variable production engineering cost is $825,
dybincka [34]

Answer:

variable per unit        $  89.72

fixed cost per unit     $  26.5

total unit cost            $  116.22

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