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Vinil7 [7]
3 years ago
7

On July 1, 2018, Fred City ordered $1,500 of office supplies.They were to be paid for out of the general fund. Entry under:

Business
1 answer:
mel-nik [20]3 years ago
6 0

Answer:

A) Dr. Encumbrances – Office supplies              No entry

Cr. Encumbrances outstanding

Explanation:

The journal entry is given below;

For Governmental fund financial statements

Encumbrances-Office Supplies $1,500  

      To Encumbrances Outstanding $1,500

(Being Office Supplies ordered  is recorded)

For Government-wide financial statements

No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise

Therefore the option a is correct

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Store equipment will increase
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In the study of bystanders and thieves presented in the text, participants are invited to a store where they see someone steal t
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C. State of being alone or with another person

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What is the primary difference between accounting profits and economic profits?
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Answer: Accounting profits ignore implicit costs; economic profits consider them.

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3 years ago
Dave Matthew Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump su
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Answer:

$78,199

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If the market price of preferred stock is $230 per preferred stock, then selling 100 preferred stocks should = $23,000

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preferred stocks = ($23,000 / $105,500) x $100,000 = $21,801

the journal entries should be:

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3 0
4 years ago
A company that is organized by function will group its employees into teams based on what?
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The correct answer is A because you are going to split the workers up in what type of work they do. 
<span>Hope I helped</span>
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3 years ago
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