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vovikov84 [41]
3 years ago
12

Central City was awarded two state grants during its fiscal year ending September 30, 2020: a $2 million block grant that can be

used to cover any operating expenses incurred during fiscal 2021, and a $1 million grant that can be used any time to acquire equipment for its police department. For the year ending September 30, 2020, Central City should recognize in grant revenue in its fund financial statement (in millions):
Business
1 answer:
Monica [59]3 years ago
3 0

Answer:

$1 million

Explanation:

The computation of the grant revenue recognized in the fund financial statement is presented below;

Given that

The $2 million could be used for covering up the operating expense and $1 million could be used for purchasing an equipment

So as per the given situation, the $1 million should be recognized

Therefore the same should be considered

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Jason wants to open a checking account with a ​$100 deposit. Jason believes he will write 15 checks per month and use other​ ban
anastassius [24]

Answer:

Hillsboro Bank

Explanation:

Jason has 4 banks to choose from:

                          Hillsboro     First National     Trust South      Sun Coast

15 checks              $3                   $8                      $0                  $7.50

8 ATM's                 $4                  $12                     $12                  $12

<u>no minimum          $6                   $7                      $11                   $2.50    </u>

total                       $13                  $27                    $23                  $22

Jason should choose Hillsboro bank because his total monthly fees will be lower.

8 0
3 years ago
Ray Bond sells handcrafted yard decorations at county fairs. The variable cost to make these is $20 each, and he sells them for
Rama09 [41]

Answer:

5 units

Explanation:

Breakeven point is the point or number of units sold that makes the cost equal with the revenue generated. In other words, it is the point in which the profit or loss made by an entity is 0.

Given;

Variable cost per unit = $20

Selling price per unit = $50

Fixed cost =  cost of rent = $150

Let the number of units to be sold be c

Total revenue = 50c

total cost = 20c + 150

To break even, total revenue =  total cost

20c + 150 = 50c

50c - 20c = 150

30c = 150

c = 5

Ray must sell 5 units to break even.

5 0
3 years ago
Summarize what a Compound interest is
Llana [10]

compound interest

after getting the simple interest of all the years we subracts the main amount with the simple interest which we got till now .it's called as compound interest

8 0
3 years ago
Oregon Co.'s employees are eligible for retirement with benefits at the end of the year in which both age 60 is attained and the
-BARSIC- [3]

Answer:

$205,592

Explanation:

Interest cost is the Present Value of this $ 20,000 annuity streams at time zero i.e. ( Year 2022

Value of annuity stream = $ 20,000 x 11.11839

Present Value of annuity streams at 2015 =$ 222,367.80

Discount Factor for 2017 = (1.04)-2 = 0.92456

Present Value at 2022= $ 222,367.80 x 0.92456

Service Cost= $ 205,592

5 0
3 years ago
Why are posting references entered in the journal when entries are posted to the ledger accounts?
wolverine [178]

Answer:

c. So we know that the entry has been posted.

Explanation:

  • The posting reference are entered in the journal entries are done so as to find them in the account ledgers and these entres are post in the this account is insert to keep and store the booking entry for the balance sheets and includes the incomes statements and accounts like the receivables and the accounts payable and accrued expenses also.
3 0
3 years ago
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