All categories

3 years ago

The City of Oxbow General Fund has the following net resources at year-end:

Business

1 answer:

Delvig [45]3 years ago

7 0

Answer:

$1,622,000

Explanation:

Preparation of the fund balance section of the balance sheet.

Partial Balance Sheet-General Fund

As of December 31

FUND BALANCES SECTION OF THE BALANCE SHEET

Nonspendable:

Prepaid Insurance $10,000

Restricted:

Intergovernmental Grants $250,000

Emergency services $26,000

Committed:

Rainy Day Fund $600,000

Capital Projects $275,000

Assigned:

Unassigned $461,000

TOTAL fund balance $1,622,000

Therefore the fund balance section of the balance sheet will be $1,622,000

You might be interested in

The standard cost of product 777 includes 2.9 units of direct materials at $6.8 per unit. During August, the company bought 29,2

Olegator [25]

Answer:

Total Material Variance = $1,636 Favorable

Material Price Variance = $2,920 Unfavorable

Material Quantity Variance = $4,556 Favorable

Explanation:

Total Material Variance = Standard Cost - Actual Cost

Standard Cost = Standard units $\times$ Standard Price

Standard Units = 10,300 $\times$ 2.9 = 29,870 units

Standard cost = 29,870 $\times$ $6.8 = $203,116

Actual Cost = 29,200 $\times$ $6.90 = $201,480

Total Material Variance = $203,116 - $201,480 = $1,636 Favorable

Material Price Variance = (Standard Rate - Actual Rate) $\times$ Actual Units

= ($6.8 - $6.9) $\times$ 29,200 = - $2,920 Unfavorable

Material Quantity Variance = ( Standard Units - Actual Units) $\times$ Standard Price

= (29,870 - 29,200) $\times$ $6.8

= $4,556 Favorable

Final Answer

Total Material Variance = $1,636 Favorable

Material Price Variance = $2,920 Unfavorable

Material Quantity Variance = $4,556 Favorable

8 0

3 years ago

Which group of people ultimately determines the products that a command economy produces?.

Andre45 [30]

The authorities make a decision on what items and offerings could be produced and what costs could be charged for them.

<h3>Who controls the economic system in a command economic system?</h3>

Command financial system, a monetary machine wherein the approach of manufacturing is publicly owned and monetary interest is controlled through a central authority that assigns quantitative manufacturing dreams and allots raw materials to productive establishments.

Learn more about command economy here brainly.com/question/26262298

#SPJ10

4 0

2 years ago

Read 2 more answers

How do public disclosure requirements protect consumers?

bearhunter [10]

<span> Public disclosure requirements protect consumers by keeping public companies honest in how they run their business and represent themselves to the public.</span>

6 0

3 years ago

A friend says, "I really, really need a new car." As an economist, you're thinking ______

olasank [31]

A) This is an example of how objectively undefinable needs are.

8 0

3 years ago

In the late 1930s management at Atalanta Industries agreed to hire only those workers who were already members of the Electrical

Alex73 [517]

Answer:

Closed shop

Explanation:

A closed shop involves an agreement where the employer only recruits Union members. The workers must remain Union members as long as they work with the employer.

Legality of closed shop varies from country to country.

I'm this instance, Atalanta Industries agrees to hire only those workers who were already members of the Electrical Union. This is a closed shop situation.

Closed shop was declared illegal by the Taft-Hartley act in 1947.

7 0

4 years ago

Read 2 more answers