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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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Debtor: Joanna and her husband; Creditor: Resturant

Explanation:

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6 0
2 years ago
Hich pricing strategy involves setting a high price for an exclusive, high-end product?
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Yes, this encourages the buyer to pay more for an item especially if it is by a well known branded. This gives them to opportunity to brag and boast with their purchase. Also when the product is well known consumers are going to try their absolute best to buy it, this is going to make the product scare, hence increasing its price.
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Selecting a job based on your skills and interests is important, because on average, a person with a full time job works approxi
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3 years ago
This year, Linda Moore earned a $112,000 salary and $2,200 interest income from a jumbo Certificate of Deposit.She recognized a
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Answer:

a) salary $112,000

Interest income $2,200

Capital gain on stock -

gross income $114,200

capital gains and losses

capital gain 10,500

capital loss 15,300

Net capital loss = 4800

net loss offset on Gross income = 3000

Net Gross income $111,200

capital loss that is carried forward = $1800

b) salary $112,000

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gross income $114,200

CAPITAL LOSSES/GAINS

capital gain 16000

capital loss 15300

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ADD taxable capital gains on Gross income

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6 0
3 years ago
suppose you are thinking about purchasing a small office building for $1,500,000. the 30 year fixed rate mortgage that you have
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<h3>What is Private Mortgage Insurance (PMI) ?</h3>

Private mortgage insurance (PMI) is a type of insurance that a borrower might be required to buy as a condition of a conventional mortgage loan. When a buyer puts down less than 20% of the home's price, the majority of lenders demand PMI.

In contrast to most insurance types, this one safeguards the lender's investment in the house, not the policyholder. However, PMI enables some people to purchase a home more quickly. PMI makes it possible for people to get financing if they decide to put down between 5% and 19.99% of the home's cost.

It does, however, incur additional monthly expenses. Until they have built up enough equity in the property that the lender no longer views them as high-risk, borrowers must continue to pay their PMI.

Formula for calculating PMI :Divide the loan amount by the property value. Then multiply by 100 to get the percentage. If the result is 80% or lower, your PMI is 0%, which means you don't have to pay PMI.

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6 0
1 year ago
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