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sergey [27]
2 years ago
13

During 2017, the Gateway City government recorded a $15,000 transfer from the General Fund to an internal service fund; a $25,00

0 transfer from the General Fund to an enterprise fund; a $10,000 transfer from an enterprise fund to an internal service fund, and a $5,000 transfer from an enterprise fund to the General Fund. In the Business-type Activities column of the government-wide financial statements, Gateway City should report:
a. Net transfers out of $5,000.
b. Net transfers in of $10,000.
c. Net Transfers in of $25,000.
d. Net Transfers in of $35,000.
Business
1 answer:
Leya [2.2K]2 years ago
8 0
B. Net transfers out of $10,000
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3 years ago
A company has 525 shares of $61 par value preferred stock outstanding. It also has 21,000 shares of common stock outstanding, an
pantera1 [17]

Answer:

$32.6

Explanation:

Please see attachment

7 0
2 years ago
Assume the prior year ending inventory was understated by $ 50,000 . Explain how this error would affect the prior year and curr
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When Prior year ending inventory understated by $ 50,000 :

If the ending inventory of the prior year has been understated then the COGS of the prior year get overstated which ultimately understated Pretax income by the same margin.

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8 0
1 year ago
Cheyenne Corp. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $17
katen-ka-za [31]

Answer:

a. Bad Debt Expense 5100 Allowance for Doubtful Accounts 5100

Explanation:

The adjusting entry is shown below:

Bad debt expense $5,100

       To Allowance for doubtful debts $5,100

(Being the bad debt expense is recorded)

The computation is shown below:

= Account receivable × estimated percentage - credit balance of allowance for doubtful debts

= $170,000 × 5% - $3,400

= $8,500 - $3,400

= $5,100

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7 0
3 years ago
Which of the following would not be a current asset? Certificates of deposit that mature in six months Cash Customer receivables
zavuch27 [327]

Answer:

Supplier bills payable in 30 days

Explanation:

This is current assets

- Certificates of deposit that mature in six months

- Cash

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7 0
3 years ago
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