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Scorpion4ik [409]
3 years ago
11

On January 1, 2017, the City of Graf pays $68,000 for a work of art to display in the local library. The city will take appropri

ate measures to protect and preserve the piece. However, if the work is ever sold, the money received will go into unrestricted funds. The work is viewed as inexhaustible, but the city has opted to depreciate this cost over 20 years (using the straight-line method).Required:a. How is this work to be reported on the government-wide financial statements for the year ended December 31, 2017?b. How is this work to be reported in the fund financial statements for the year ended December 31, 2017?

Business
1 answer:
mariarad [96]3 years ago
6 0

Answer: The answer has been attached below

Explanation:

Financial statements are the formal records of financial activities and position of an individual, a business, or other entity. The relevant financial information is typically presented in a structured manner and in an understandable form.

Financial statements can include balance sheet, income statement, statement of cash flows, the notes to accounts and statement of changes in equity.

The solution to the question is attached.

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The Federal Reserve conducts a $30 million open-market purchase of government bonds. If the required reserve ratio is 15 percent
PIT_PIT [208]

Answer

a. 200 million

b. 30 million

The answer and procedures of the exercise are attached in the image below.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

4 0
4 years ago
Which of the following budgets are needed to calculate unit product costs? Direct labor budget Direct materials budget Cash budg
kodGreya [7K]

Answer:

The following budgets are needed to calculate are as follows:

Direct labor budget

Direct materials budget

Manufacturing overhead budget

Explanation:

The three budgets put together are known as production budget which are as a result of sales budget.

When a company determines its projected sales ,it goes ahead to  prepare its production budget in order to fulfill forecast sales as contained in the sales budget.The quantity to be manufactured is based on the opening inventory for the period, forecast sales quantity as well as the desired ending inventory quantity.

In order to determine production level,the opening inventory is added to forecast sales and desired ending inventory is subtracted to arrive at the estimated production units for the period.

8 0
3 years ago
Oriole, Inc., stock has a beta of 1.60. If the expected market return is 17.5 percent and the risk-free rate is 7.0 percent, wha
Katen [24]

Answer:

23.8

Explanation:

Oriole stock have a beta of 1.60

The expected market return is 17.5

The risk free rate is 7.0

Therefore the expected return for oriole stock can be calculated as follows

= 7 + 1.60(17.5-7)

= 7+ 1.60(10.5)

= 7 + 16.8

= 23.8

7 0
3 years ago
Answer the following question based on the article "The Mystery of Original Sin: We Don't Know Why God Permitted the Fall, but W
Alexandra [31]

Answer:

D) He wants us to learn that having Him at the center of our lives will always be the best for us no matter how big or small the decisions we must face.

Explanation:

The article exposes that dehumanization is part of the world we're living in today. Marguerite Shuster argues that the world we're living in today is Genesis 3 world.

What's wrong with this world? "As the story goes, Chesterton responded with just two words: "I am." His answer is unlikely to be popular with a generation schooled to cultivate self-esteem, to pursue its passions and chase self-fulfillment first and foremost."

Then Shuster's invitation is to recenter our lives at Him.

References:

Shuster , M. (2013). The Mystery of Original Sin: We don’t know why God permitted the Fall, but we know all too well the evil and sin that still plague us. Christianity Today, 57(3), 38-41

Shuster, Marguerite. “Did God Plan the Fall?” ChristianityToday.com, Christianity Today, 24 Sept. 2018

8 0
3 years ago
Which of the following is not one the factors affecting supply
Nuetrik [128]
C or a , not sure which one
8 0
3 years ago
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