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guapka [62]
2 years ago
11

A state whose fiscal year ends June 30, 2013, had the following transactions and events. For each item, compute how much total e

xpenditures the state will report in the General Fund Statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2013. Also, state the accounting principle that governs calculation of the amount to be accrued at the end of the accounting period.
1. During the year, the state paid salaries of $3,600,000. Its employees also earned $150,000 during the period June 23–30, but the payroll for that period will be paid on July 12.
2. The state permits its employees to accumulate up to 30 days of vacation leave. The employees are entitled to be paid on termination or retirement for any unused vacation days. At the beginning of the fiscal year, the state’s liability for unused vacation pay was $720,000. By the end of the fiscal year, the vacation pay liability had increased to $810,000. The latter amount includes $16,000 owed to employees who retired as of June 30, 2013 with unused vacation pay. That amount will be paid on July 12, 2013.
3. At the beginning of the fiscal year, the state’s actuary advised the budget director that a total of $430,000 would have to be paid into a Retiree Health Care Trust Fund if the state were to contribute to the fund based on the benefits earned by its active employees during fiscal 2013. The adopted budget, however, contained an appropriation for $115,000, the amount of benefits the state expected to pay on behalf of retired employees.
During the year, actual payments on behalf of retired employees were $96,000. An additional $12,000 was scheduled to be paid in July 2013 for health care benefits claimed in June 2013.
Business
1 answer:
inysia [295]2 years ago
3 0

Answer:

kahau allu lahau na ta ghar jau malai tah china so k gaeu ma ha

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Suppose that the market demand curve for bean sprouts is given by P = 1,660 - 4Q, where P is the price and Q is total industry o
a_sh-v [17]

Answer:

In equilibrium, total output by the two firms will be option e= 300.  

Q = q_{1} + q_{2}

Q = 100 + 200

Q = 300

Explanation:

Data Given:

Market Demand Curve = P = 1660-4Q

where, P = price and Q = total industry output

Each firm's marginal cost = $60 per unit of output

So, we know that Q =  q_{1} + q_{2}

where q_{} being the individual firm output.

Solution:

P = 1660-4Q

P = 1660- 4(q_{1} + q_{2})

P = 1660 - 4q_{1} - 4q_{2}

Including the marginal cost of firm 1 and multiplying the whole equation by q_{1}

Let's suppose new equation is X

X =  1660q_{1} - 4q_{1} ^{2} - 4q_{1}q_{2} - 60q_{1}

Taking the derivative w.r.t to q_{1}, we will get:

X^{'} = 1660 - 8q_{1} - 4q_{2} - 60 = 0

Making rearrangements into the equation:

8q_{1} + q_{2} = 1660 - 60

8q_{1} + q_{2} = 1600

Dividing the whole equation by 4

2q_{1} +q_{2} = 400

Solving for q_{1}

2q_{1} = 400 - q_{2}

q_{1} = 200 - 0.5 q_{2}  

Including the marginal cost of firm 1 and multiplying the whole equation by q_{2}

P = 1660 - 4q_{1} - 4q_{2}

Let's suppose new equation is Y

Y =  1660q_{2} - 4q_{1}q_{2} -4q_{2} ^{2} - 60q_{2}

Pugging in the value of q_{1}

Y =  1660q_{2} - 4q_{2}(200 - 0.5 q_{2}) -4q_{2} ^{2} - 60q_{2}

Y =  1660q_{2} - 800q_{2} +2q_{2} ^{2} -4q_{2} ^{2} - 60q_{2}

Y =  1600q_{2} - 800q_{2} -2q_{2} ^{2}

Taking the derivative w.r.t q_{2}

Y^{'} = 1600 - 800 - 4q_{2} = 0

Solving for q_{2}

4q_{2} = 800

q_{2} = 200

q_{1} = 200 - 0.5 q_{2}

Plugging in the value of q_{2} to get the value of q_{1}

q_{1} = 200 - 0.5 (200)

q_{1} = 200 - 100

q_{1} = 100

Q = q_{1} + q_{2}

Q = 100 + 200

Q = 300

Hence, in equilibrium, total output by the two firms will be option

e= 300.

5 0
3 years ago
credit cards should be used for what A. anything you want B. things you cant afford C. budgeting expenses you need to pay over t
zloy xaker [14]
Im pretty sure its C



hope this helps best of luck :)
4 0
3 years ago
Bill Mitselfik has purchased a bond that was issued by Acme Chemical. This bond has a face value of $1,000 and pays a dividend o
kramer

Answer:

$1,068.02

Explanation:

For computing the selling price of the bond we need to use the Future value formula or function i.e to be shown in the attachment below:

Given that,  

Present value = $1,000

Rate of interest = 10% ÷ 2 = 5%

NPER = 3 years × 2 = 6 years

PMT = $1,000 × 8% ÷ 2 = $40

The formula is shown below:

= FV(Rate;NPER;PMT;-PV;type)

The present value comes in negative

So, after applying the above formula, the selling price of the bond is $1,068.02

7 0
3 years ago
Patsy possesses twenty-four acres of remote, rugged land. Patsy has the right to use the property, in¬cluding extracting silver
GenaCL600 [577]

Answer:

C. life estate

Explanation:

A life estate is an estate interest in land that lasts for the life time of the life tenant. The holder of a life estate has a full right to possess the property during their life. A life estate is restrictive in that it prevents the beneficiary from selling the property that produces the income before the beneficiary's death. But the estate cannot continue beyond the life of the beneficiary.  A major benefit of a life estate deed is that it can be used to pass property upon the life tenant's death without it being part of the life tenant’s estate.  

8 0
3 years ago
The operations vice president of Security Home Bank has been interested in investigating the efficiency of the bank’s operations
AURORKA [14]

Answer:

The computation of the activity rates for the activity-based costing system is shown below:-

Explanation:

                        Opening     Processing     Processing     Other        Totals

                        accounts     Deposits and     other          activities

                                             Withdraws       Customers

                                                                      transactions

Teller wages  $5,800         $108,750          $26,100      $4,350     $145,000

Assistant

branch

manager

salary             $4,800         $6,600              $16,200       $32,400   $60,000

Branch

manager

salary           $3,760           $0                     $20,680      $69,560    $94,000

                    $14,360         $115,350           $62,980      $106,310

Working Note

                        Opening     Processing     Processing              Other    

                        accounts     Deposits and     other                  activities

                                             Withdraws       Customers

                                                                      transactions

Teller

wages ($145,000 × 4%)  ($145,000 × 75%) ($145,000 × 18%) ($145,000 × 3%)

Assistant

branch

manager

salary  ($60,000 × 8%) ($60,000 ×11%) ($60,000 × 27%) ($60,000 × 54%)

Branch

manager

salary ($94,000 × 4%) ($94,000 × 0%) ($94,000 × 22%) ($94,000 × 74%)

Activity                      Activity cost        Cost drivers      Activity rate

Opening accounts    $14,360                230                  $62.43

Processing deposits

and Withdrawals       $115,350              51,000              $2.26

Processing other

customers

transactions               $62,980             1,150                  $54.77

4 0
3 years ago
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