1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mixer [17]
3 years ago
7

On the advice of the city attorney, a City Jail Debt Service Fund is opened to account for debt service transactions related to

the bond issue sold on January 1, 2017 (see Part 1).
Required:

a. Open a general journal for the City Jail Debt Service Fund. Record the following transactions, as necessary. Control accounts are not necessary

(1) The premium described in transaction 1 of Part 1 was received as a transfer from the capital projects fund.
(2) Cash in the amount of $160,000 was received from the General Fund on June 30 and was transferred to the fiscal agent.
(3) The fiscal agent reported that checks dated July 1 had been mailed to bondholders for interest due that day.
(4) The transfer described in part c of Part 1 was received.
(5) Cash in the amount of $360,000 was received from the General Fund on December 31 and transferred to the fiscal agent to be used for interest and principal payments due on January 1 (next fiscal year). The government elected to not accrue the interest at year-end.
(6) $ 200,000 of the remaining cash on hand was invested.

Business
1 answer:
dem82 [27]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

You might be interested in
Choose the answer that correctly identifies the conflict management styles represented by each version. a. 1- non-confrontationa
patriot [66]

Hi, you've asked an incomplete question. However, the missing question read;

Version 1: George walks away. He never talks to Elaine or Jerry again.

Version 2: George confronts Elaine, saying “I am angry about what you have been saying. I do not want you spreading rumors about me. If you have a problem, please see me about it.”

Version 3: George yells at Elaine to shut u.p and then confronts his boss demanding to know why he’s going to be fired.

Version 4: George demands that Elaine tell him where she heard that. Elaine tells him not to worry about it and tries to crack a joke about how much the boss is late.

Answer:

  • <u>Version 1: non-confrontational</u>
  • <u>Version 2: cooperative</u>
  • <u>Version 3: confrontational</u>
  • <u>Version 4: confrontational and cooperative</u>

Explanation:

1. In this scenario it is evident that George avoids confrontation with Elaine. In fact, we are told that "[He] walks away..."

2. In this scenario, however, we notice a cooperative deposition between George and Elaine. He made this lear when he said, "...If you have a problem, please see me about it.”

3. Confrontation occurs in this scenario as we are told that "George... then confronts his boss demanding to know why he’s going to be fired. "

4.  By demanding "that Elaine tells him where she heard that" indicates confrontation. While Elaine's cracking a joke about how much the boss is late shows cooperation.

4 0
3 years ago
Read 2 more answers
If Abrams Company has an inventory turnover of 7.3 and a receivables turnover of 9.6, approximately how long is its operating cy
Leviafan [203]

Answer:

It is 16.9

Explanation:

Operating cycle = Inventory turnover + Receivable turn over - payable turnover

Hence, Operating cycle = 7.3+9.6

=16.9

Operating cycle implies how long it takes us to convert entire production process to cash .

It has an direct relationship with the level of working capital required. The higher the operating cycle, the higher the working capital investment required to keep the operation running.

A cash driven businesses like restaurant which hardly sell on credit will certainly have shorter operating cycle compared to a manufacturing company.

6 0
3 years ago
A company that asks candidates to engage in group discussions, business game simulations, presentations, and role play exercises
lina2011 [118]

Answer:

A company that asks candidates to engage in group discussions, business game simulations, presentations, and role play exercises, so that members of management may evaluate their performance capabilities is probably using this method of selection:

  • Assessment Center

Explanation:

  • Assessment Center method is such a method of selection in which the recruiting company measure the performance of the candidates by engaging them in different activities.
  • These activities can include business scenarios, job simulations, psychological tests etc.
  • For example, if a company is recruiting and for evaluation they ask the candidates to consider themselves in a particular role. Then they ask them how will they perform their duties. This is an example of assessment center selection method.
3 0
3 years ago
Retreaded Tires plans to save $23,500, $24,500, $26,500, and $28,000 at the end of each year for Years 1 to 4, respectively. If
exis [7]

Answer:

<u><em></em></u>

  • <u><em>Option C. $105,608.11</em></u>

<u><em></em></u>

Explanation:

Basis:

  • Interest compounded monthly
  • rate = 0.021/12 = 0.00175

1. Year 1:

All the figures in dollars.

  • Initial balance: 0
  • Initial balance + interest = 0
  • Deposit at the end of the year: 23,500
  • Final balance: 23,500

2. Year 2:

All the figures in dollars.

  • Initial balance: 23,500
  • Initial balance + interest: 23,500 (1 + 0.00175)¹² = 23,998.28
  • Deposit at the end of the year: 24,500
  • Final balance: 24,500 + 23,998.28 = 48,498.28

3. Year 3:

All the figures in dollars.

  • Initial balance: 48,498.28
  • Initial balance + interest: 48,498.28(1 + 0.00175)¹² = 49,526.60
  • Deposit at the end of the year: 26,500
  • Final balance: 26,500 + 49,526.60 = 76,026.60

4. Year 4:

All the figures in dollars.

  • Initial balance: 76,026.60
  • Initial balance + interest: 76,026.60(1 + 0.00175)¹² = 77,638.62
  • Deposit at the end of the year: 28,000
  • Final balance: 28,000 + 77,638.62 = 105,638.62

Assuming differences in rounding intermediate values, the answer is the option C.

3 0
3 years ago
The following hypothetical production possibilities tables are for China and the United States. Assume that before specializatio
Degger [83]

The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative B and for the United States is alternative U. China Production Possibilities Product: A - B - C - D - E - F Apparel: 120,000 - 96,000 - 72,000 - 48,000 - 24,0000 Chemicals(tons): 0 - 24 - 48 - 72 - 96 - 120 U.S. Production Possibilities Product: R - S - T - U - V - W Apparel: 40,000 - 32,000 - 24,000 - 16,0000 - 8,0000 Chemicals(tons): 0 - 16 - 32 - 48 - 64 - 80a. Are comparative-cost conditions such that the two countries should specialize?

5 0
3 years ago
Other questions:
  • A project will produce an operating cash flow of $31,200 a year for 7 years. The initial fixed asset investment in the project w
    13·1 answer
  • With respect to organizational changes, a health care organization that discovered weaknesses in the organization’s ability to c
    6·1 answer
  • A project has a net present value of zero. Which one of the following best describes this project?The project has a zero percent
    5·1 answer
  • At Flo Valley Manufacturing, workers are encouraged to find their own solutions to problems, and to implement their solutions wh
    6·1 answer
  • A single person making $20,000 would pay ________ per cent on $7,550 and 15% on the remainder..
    13·1 answer
  • Which of the following characteristics is a disadvantage of cloud-based hosting?
    8·1 answer
  • Suppose that the last dollar that Victoria receives as income brings her a marginal utility of 10 utils while the last dollar th
    5·1 answer
  • Hollister Company amended its defined benefit pension plan at the beginning of 2020 and recognized prior service cost of $1,700,
    13·1 answer
  • A stock is currently selling at 80 per share to yield an annual nominal interest rate of 10%, compounded semi-annually. The stoc
    13·1 answer
  • Two years ago, you bought a property for $264,500. Values increased in that area by 5% the first year and 7% the second year. Ho
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!