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lesya692 [45]
3 years ago
14

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

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Yellow Co. spent $12,000,000 during the current year developing its new software package. Of this amount, $4,000,000 was spent b
earnstyle [38]

Answer:

devopment expense                                   4,000,000

software package depreicaiton expense 2,000,000

training employees expense                     <u>      50,000</u>

Total expenses                                            6,050,000

Explanation:

the cost before the knowledge of future benefit will come for the development of the software  is treated as expense. The reasoning behind this is the potential uncertainty about the furture at this time. The company didn't know about the likelihood of future benefits.

The toher 8,000,000 million will be amortize over a 4-year period:

8,000,000 / 4 = 2,000,000 depreciation expense

The training wil be considered expense for the period.

4 0
3 years ago
Par value a.is the monetary value assigned per share in the corporate charter b.is established for a share of stock after it is
nika2105 [10]

Answer:

c.represents what a share of stock is worth

Explanation:

Hope it helped...Please mark brainliest. Have a nice day!

4 0
2 years ago
Another bank is also offering favorable terms, so Rahul decides to take a loan of $14,000 from this bank. He signs the loan cont
nikklg [1K]

Answer: $14,426.43

Explanation:

At the end of 4 months and assuming a  12 months and 365 days in a year, the formula to be used to calculate how much Rahul owes is;

We use the formula:

Amount owed = Present Value ( 1 + rate/365 ) ^ 365 * time period

Amount owed = 14,000 * ( 1 + 0.09/365 ) ^ (365 *4/12 )

Amount owed  = $14,426.43

3 0
3 years ago
Barbara owns 40% of the stock of Cassowary Corporation (a C corporation) and 40% of the stock of Emu Corporation (an S corporati
vodomira [7]

Answer:

$ 48,000

$3,200

Explanation:

Since C corporations are separate taxable entities, Cassowary Corporation will report the operating income and tax-exempt income. An S corporation is a tax reporting entity. Therefore, Barbara will report ordinary business income of $ 48,000 and tax-exempt $ 3,200.

Reason -

Business income = 120,000×40%

                           = 120,000.\frac{40}{100}

                           = $48,000

⇒Business income = $48,000

Tax-exempt = 8,000×40%

                   = 8,000.\frac{40}{100}

                   = $3,200

⇒Tax-exempt = $3,200

7 0
2 years ago
A sales tax is sent to the government by
Oksanka [162]

Answer:A sales tax is a consumption tax imposed by the government on the sale of goods and services. A conventional sales tax is levied at the point of sale, collected by the retailer, and passed on to the government. A business is liable for sales taxes in a given jurisdiction if it has a nexus there, which can be a brick-and-mortar location, an employee, an affiliate, or some other presence, depending on the laws in that

Explanation:

6 0
3 years ago
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