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2 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:

Advocard [28]2 years ago

3 0

Answer:

$2,289,500

Explanation:

Preparation of the schedule to show the amount of revenue that should be reported by Gilbert’s general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 20X8

Gilbert City

REVENUE REPORTED by the General Fund

For the Year Ended June 30, 20X8

Property tax revenue $1,862,000

[$2,000,000-$100,000-($2,000,000-$100,000)*2%)]

Interest revenue on advance $1,500

Grant revenue used to acquire computer equipment $235,000

Sales tax revenue $125,000

Liquor license revenue $66,000

Total revenue reported $2,289,500

Therefore the amount of revenue that should be reported by Gilbert’s general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 20X8 is $2,289,500

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Swifty Corporation, has 14100 shares of 4%, $100 par value, cumulative preferred stock and 61000 shares of $1 par value common s

dlinn [17]

Answer: $32,800

Explanation:

Every year, the preference shareholders are entitled to the following in dividends;

= 14,100 * 4% * 100

= $‭56,400‬

These shares are cumulative which means that if dividends are not paid in one year, they will have to be accured and paid in another.

No dividends were paid in 2019.

In 2020, dividends were $101,000

Preference shareholders would get dividends for both 2019 and 2020 from here so;

= 56,400 + 56,400

= $112,800

They will take all $101,000 and still be owed;

= 112,800 - 101,000

=$ 11,800

In 2021, their Preference dividends will be;

= 56,400 + 11,800

= $68,200

Amount left for Common shareholders in 2021 will therefore be;

= 101,000 - 68,200

= $32,800

3 0

2 years ago

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

Leya [2.2K]

B. Net transfers out of $10,000

8 0

2 years ago

During 2016, Handy Appliances made and sold coffee makers. At the beginning of the year the company had 37 units, 14,382 units w

scoray [572]

Answer:

option D

Explanation:

given,

unit at beginning = 37 unit

unit sold in year = 14,382 units

unit made this year = 14,385 units

coffee maker costs = $8.42

coffee maker is sold = $15.50

finished good inventory = ?

now,

inventory = unit at beginning - unit sold in year + unit made this year

inventory = 14,385 + 37 - 14,382

= 40 units

amount balanced = 40 × $8.42

= $ 336. 80

hence, the correct answer is option D

5 0

3 years ago

Conflicts of interest pose a problem because they A. lower the quality of information. B. increase problems of asymmetric inform

Grace [21]

Answer:

all of the above

Explanation:

Conflicts of interest pose a problem because they lower the quality of information , increase problems of asymmetric information and make the financial system less efficient.

Conflict of interest cause due to poor communication in the organisation , poor selection of staff misunderstanding between the employees between the departments head , personal stress or frustration , and poor process of planning , lack of trust , ego issues , shyness , not interested to communicate all the above mentioned problem can cause the conflict of interest . These need to be correct to avoid the conflict of interest.

These can be done through by establishing a proper process , leave ego and start communicating and discussing the problem and issues , develop proper communication process in the organisation so that it can help in develop trust in the organisation among the employees , start compromising sometime , try to avoid sometime , try to manage stress , all these above mention tips may help in avoiding the conflicts .

Thee is always a need to resolve the conflicts because the consequences of conflicts are not good for the whole organisation.

7 0

3 years ago

L Corporation produces and sells 15,100 units of Product X each month. The selling price of Product X is $21 per unit, and varia

swat32

Answer:

If Product X is discontinued, the company’s overall net operating income would: increase by $61,600

Explanation:

Not drop Drop Difference

Sales 317,100 317,100

(15100*21)

Less: Variable expenses 226,500 226,500

(15,100 * 15)

Contribution margin 90,600 90,600

Less: fixed expenses 101,000 72,000 29,000

Net operating income -$10,400 $61600

Conclusion: If Product X is discontinued, the company’s overall net operating income would: increase by $61,600

8 0

3 years ago