All categories

3 years ago

Gilbert City had the following transactions involving resource inflows into its general fund for the year ended June 30, 20X8:

Business

1 answer:

GenaCL600 [577]3 years ago

3 0

Answer:

Gilbert City

A Schedule showing the amount of revenue in the general fund:

1. July 20X7 Property Taxes $2,200,000

2. Apr. 1, 2018 Interest on Advance 1,500

4. 2018 Grant Monies 265,000

5. June 30 Sales Tax 135,000

5. June 30 Additional Sales Taxes 22,000

6. July 20X7 Liquor Licenses 78,000

Total Revenue $2,701,500

Explanation:

Gilbert City, like other government bodies, reports its transactions on the accrual basis. For Gilbert City, this implies that the city will report all revenues receivable, whether actually received or not. And the city only reports the revenues that pertain to the current fiscal period in the current period. Gilbert City's revenues attributed to past and future years do not form part of the revenue for the current period. Gilbert City's reporting basis is in line with the accrual concept and the matching principle of Generally Accepted Accounting Principles.

You might be interested in

A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On

pychu [463]

Answer:

The correct answer is C

Explanation:

The amount of cash paid on July 8 is computed as:

Amount of goods worth = Purchased amount - Returned goods worth Amount of goods worth = $1,800 - $200

Amount of goods worth = $1,600

As the amount is paid within the terms of 10 days, so the amount is eligible for the discount of 2%, it is as:

Amount to be paid in cash = Amounts of goods worth - ( Amounts of goods worth × Discount)

where

Amounts of goods worth is $1,600

Discount is of 2%

Putting the values above:

Amount to be paid in cash = $1,600 - ($1,600 × 2%)

Amount to be paid in cash = $1,600 - 32

Amount to be paid in cash = $1,568

8 0

3 years ago

Note how these emerging technologies are impacting organizations and what organizations can to do to reduce the burden of digita

Rashid [163]

The correct answer to this open question is the following.

You did not attach any text, article, or particular reference to answer this question. So we assume you are talking in general terms.

So being that the case, we can comment on the following.

It is true that emerging technologies are impacting organizations. Some businesses and organizations have been overwhelmed by technological advances. We are talking about new technologies that are transforming the workplace such as biometrics, analytics, robotics, big data, or artificial intelligence.

What organizations can do to reduce the burden of digitalization is having a gradual transformation. Not a sudden or abrupt change. A step by stape process is highly recommended. But procrastination at all. The digital transformation should start now.

It has to start with a process of training to make employees aware of the necessity of change.

6 0

3 years ago

Time management involves putting together a(n) _____ of your activities.

laila [671]

Answer:

list

Explanation:

Time management involves putting together a list of your activities. This allows you to keep track of what must be done in a certain span of time. Because Time management refers to organizing and planning how you are going to divide your time between various activities or tasks. To take your time management a step further you can organize your list of activities by importance and/or create a timeline for the activities and combine activities that can be multi-tasked.

4 0

3 years ago

The following information are available about the economy, where all figures are in million dollars: Full employment = $2,000, C

Softa [21]

Answer:

Explanation:

HOPE ITS HELP YOU

THANKSSS

4 0

3 years ago

Locate the values of SSE, s2, and s on the printout below.

mylen [45]

Answer:

SSE = 1678.115; s2 = 139.843; s = 11.826

Explanation:

Consider the following formulas:

SSE: This value provides a measure of how well the line of best fit approximates the data set.

S^2: The variance is mathematically defined as the average of the squared differences from the mean

S: is the expectation of the squared deviation of a random variable from its mean.

7 0

3 years ago