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lutik1710 [3]
3 years ago
12

How does a global economy impact you?

Business
1 answer:
shepuryov [24]3 years ago
7 0
The answer is D, Which is A and B
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Cost-volume-profit analysis requires management to classify all costs as either fixed or variable with respect to production or
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Cost-volume-profit analysis is refered to as the predictive tool that can be used for the determination of the profit consequences of the price changes, future cost changes, price and the volume of the activity changes.

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Which statement regarding wage earning employees is true?
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Gem City's Internal Service Fund received a residual equity transfer of $50,000 cash from the General Fund.
Sergio039 [100]

Answer:

Gem City's Internal Service Fund received a residual equity transfer of $50,000 cash from the General Fund.

This $50,000 transfer should be reported in Gem's Internal Service Fund as a credit to;

D. Transfers.

Explanation:

An internal Service fund can be defined as a fund used in most governments to keep records of goods and services that are moved between departments on the basis of cost reimbursement. An example of an Internal Service fund is when one department offers goods and services to another department. In our case, the Gem City's Internal Service Fund received a residual equity transfer of $50,000 from the General Fund in form of cash. An equity transfer is the transfer of the ownership of shares from one entity to another. In this case from the General Fund to the Gem City's Internal Service Fund.

To record the transaction above, the residual equity transfer of $50,000 to the Internal Service Fund should be recorded as a debit to Cash and a credit to Transfers.  The reporting of Transfers is usually on a separate line in the Statement of Revenues and Expenses for the fund. It comes immediately after the line item: Operating Income/Loss before Transfers and Additions.

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