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Following are some of Friendly Village’s transactions during the calendar year 2019. For each transaction, state (a) the amount

Lunna [17]

Answer:

1. Governmental type fund $605,000

Enterprise fund $605,000

2. Governmental type fund $100,000

Enterprise fund $5,000

3.Governmental type fund $13,000

Enterprise Fund $3,000

Explanation:

1a) Calculation to determine the amount the Village would report as expenditures for the year 2019

Governmental type fund=$600,000+$5,000

Governmental type fund=$605,000

1b) Calculation to determine the amount it would report as expenses for the year

Enterprise fund=$600,000+$5,000

Enterprise fund=$605,000

Therefore the amount the Village would report as expenditures for the year 2019 and the amount it would report as expenses for the year will be :

Governmental type fund $605,000

Enterprise fund $605,000

2a) Calculation to determine the amount the Village would report as expenditures for the year 2019

Based on the information the Governmental type fund will be the amount of $100,000 reason been that The truck cost the amount of $100,000

Governmental type fund=$100,000

2b) Calculation to determine the amount it would report as expenses for the year

Enterprise fund=[($100,000/10 years)*6/12]

Enterprise fund=$100,000*6/12

Enterprise fund=$5,000

Note that July 1 to December 31 will give us 6 months

Therefore the amount the Village would report as expenditures for the year 2019 and the amount it would report as expenses for the year will be :

Governmental type fund $100,000

Enterprise fund $5,000

3a. Calculation to determine the amount the Village would report as expenditures for the year 2019

Governmental type fund= $10,000+$3,000

Governmental type fund= $13,000

3b. Calculation to determine Calculation to determine the amount it would report as expenses for the year

Based on the information given we were told that he paid the interest amount of $3,000 as the first installment on the debt which means that the amount it would report as expenses for the year is $3,000

Enterprise fund $3,000

Therefore the amount the Village would report as expenditures for the year 2019 and the amount it would report as expenses for the year will be :

Governmental type fund $13,000

Enterprise Fund $3,000

8 0

3 years ago

The most useful allocation basis for the departmental costs of an advertising campaign for a storewide sale is likely to be: Mul

azamat

Answer:

Proportion of sales of each department.

Explanation:

Advertising expense directly effects the sales of the business. As the campaign is made store-wide sales and it does not directly traceable to any specific department. It need proper basis for allocation of expenses. The proportion of sales of each department is the most suitable basis from all of the given options because the share of benefit from the campaign is received in the form of sale. A campaign might mostly effects the sales.

3 0

3 years ago

_____ is a strategy used when giving constructive feedback.

lorasvet [3.4K]

The Sandwhich technique is a strategy used when giving constructive feedback.

3 0

3 years ago

Pie Corporation paid $319,500 to acquire 90 percent ownership of Slice Company on April 1, 20X2. At that date, the fair value of

Brums [2.3K]

Answer and Explanation:

As per situation the Journal entries with narrations is here below:-

As per requirement of a

1. Slice Co. investment Dr, $319,500

To Cash $319,500

(Being cash paid is recorded)

2. Slice Co. investment Dr, $27,000

To Income from Slice Co. $27,000

(Being investment is recorded)

3 Cash Dr, $13,500

To Slice Co. investment $13,500

(Being cash is recorded)

As per requirement b

1. Sales Dr, $90,000

To Total Expenses $80,000

To Dividends Declared $5,000

To Retained Earnings $5,000

(Being sales is recorded)

2. Common stock Dr, $160,000

Additional paid-in capital Dr, $40,000

Retained earnings Dr, $155,000

Income from Slice Co. Dr, $27,000

NCI in NI of Slice Co. Dr, $3,000

To Dividends declared $15,000

($1,500 + $13,500)

To Investment in Slice Co. $333,000

($319,500 + $27,000 - $135,00)

To NCI in NA of Slice Co. $37,000

(Being acquisition is recorded)

5 0

3 years ago

A firm conducted a market analysis and determined that a new wo

forsale [732]

The answer is A the firm should increase output!!!!

4 0

3 years ago