Answer:
a) credit appropriations control
Explanation:
Ridge township's governing body adopted its general fund budget for the year ended July 31, year 1, composed of estimated revenues of $100,000 and appropriations of $80,000, ridge formally integrates its budget into the accounting records. to record the appropriations of $80,000, ridge should: credit appropriations control .
In government or public sector accounting which deals with the transaction recording of government agencies, the adoption of a budget is treated thus:
Dr. Estimated Revenues
Cr. Appropriations Control
Whatever variations in amount are then credited or debited to the fund balance
Answer:
1. NPV calculation
Option 1 ( with Greewood fertilizer) : $2.256
Option 2 ( with Peter's Fertilizer) : $3.835
2. Rate of return calculation:
Option 1: 45.12%
Option 2: 95.875%
Option 2 should be chosen as it provides higher NPV.
Explanation:
1. The detailed calculation for each option is:
Option 1: Present value of sales proceed - initial cost = (8/1.05^2) - 5 = $2.256
Option 2: Present value of sales proceed - initial cost = (10/1.05^5) - 4 = $3.835.
2. The detailed calculation for each option is:
Option 1: NPV/Initial cost = 2.256/5= 45.12%
Option 2: NPV/Initial cost =3.835/10 = 95.875%
To assess which option should be picked with the assumption of infinite time horizon, NPV should be key driver. As Option 2 has higher NPV, Option 2 is chosen.
They would probably fire more workers to stay in business or/and raise prices.
Hope this helps!
Answer:
Option A.
Explanation:
It is given that a $150 petty cash fund has cash of $54 and receipts of $83.
We need to find the journal entry to replenish the account.
Cash and receipts = Cash + receipts
= $54 + $83
= $137
Short for cash = Cash fund - Cash and receipts
= $150 - $137
= $13
The required journal entry to replenish the account would include a debit to Cash Over and Short for $13.
Therefore, the correct option is A.
