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defon
3 years ago
9

Forest City has recently implemented GAAP reporting and is attempting to determine which of the following special revenue funds

should be classified as “major funds” and, therefore, be reported in separate columns on the balance sheet and statement of revenues, expenditures, and changes in fund balances for the governmental funds. As the city’s external auditor, you have been asked to provide a rationale for either including or excluding each of the following funds as a major fund. Determine which of the following funds should be reported as a major fund.
Business
1 answer:
vitfil [10]3 years ago
6 0

Answer:

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What is NOT affected by decisions of the federal Open Market Committee?
natka813 [3]

I believe the answer is: D. bond prices


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5 0
3 years ago
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Sweet Company’s outstanding stock consists of 1,000 shares of noncumulative 5% preferred stock with a $100 par value and 10,000
frutty [35]

Answer:

preferred stockholders received $15,000 during the first 3 years

  • $2,000 in the first year
  • $6,000 in the second year
  • $7,000 in the third year

common shareholders received $25,000 in dividends during the third year.

Explanation:

preferred stock = 1,000 shares x $100 par value x 5% = $5,000

common stock = 10,000 shares at $10 par value

dividends declared and paid during the first 3 years:

year       dividends

1               $2,000

2              $6,000

3            $32,000

preferred stockholders should have received $5,000 per year x 3 years = $15,000. Preferred stockholders must be paid first, and their payment is fixed. If the dividends are not enough to pay the total amount, the remaining amount should be paid next year.

  • $2,000 in the first year
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  • $7,000 in the third year

common shareholders received $32,000 - $7,000 = $25,000 in dividends during the third year.

7 0
4 years ago
Draw a demand for dollars curve. Label it D. Draw a supply of dollars curve. Label it S. Draw a point at the equilibrium quantit
brilliants [131]

Answer:

The forces of demand and supply in the market will pull the foreign exchange market into equilibrium.

Explanation:

When there is a surplus of dollar in the foreign exchange market the forces of demand and supply  will pull the foreign exchange market into equilibrium.<em> i.e. The exchange rate will be reduced to bring the exchange market to equilibrium. </em> without change in demand or supply.

attached below is the required graph.

3 0
3 years ago
PLEASE HURRY- I'M TIMED!!!!!
mezya [45]

Answer: answer number 2

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6 0
2 years ago
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Mark goes to Tony's Lumber Yard to buy some lumber to build a new roof for his cabin. Mark tells Tony, the lumber yard owner, to
musickatia [10]

Answer: Tony has explicitly breached the Implied Warranty of Fitness for a particular purpose.

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Because Mark (buyer) requested for the exact type of wood that can resist wood decay caused due to the damp environment of his cabin and Tony (seller) sells Mark lumber while assuring him that it's what he is looking for. Tony's assurance to Mark is known as the Implied warranty of fitness for a particular purpose, and since the wood is affected by dampness and caves then Tony has explicitly breached the warranty.

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3 years ago
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