Question

Central City is located in the state of Middleground. The government of Middleground has told Central City that it will match

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Because there is a grant of$0.25, the additional amount of cost that is incurred to the central city is $1-$0.25 =$0.75

Therefore (c) $0.75 is the answer to this question

Add a comment
Know the answer?
Add Answer to:
Central City is located in the state of Middleground. The government of Middleground has told Central...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Because nonresidents benefit from local government public-safety services, suppose that the feder...

    Because nonresidents benefit from local government public-safety services, suppose that the federal government offers localities a matching, open-ended categorical grant equal to $1 for $1 of local tax money spent on public safety. a.       What is the effect of this grant on the price of spending for public safety to these localities? How might the grant correct for the spillover problem? b.      Suppose the Central City currently levies a property tax for public safety at a rate of $10 per...

  • The following information is available for the preparation of the government-wide financial statements for the City...

    The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2017: Expenses: General government $ 11,760,000 Public safety 23,900,000 Public works 11,290,000 Health and sanitation 6,010,000 Culture and recreation 4,398,000 Interest on long-term debt, governmental type 721,000 Water and sewer system 10,710,000 Parking system 409,000 Revenues: Charges for services, general government 1,310,000 Charges for services, public safety 210,000 Operating grant, public safety 798,000 Charges for...

  • The City of Bernard starts the year of 2017 with the following unrestricted amounts in its...

    The City of Bernard starts the year of 2017 with the following unrestricted amounts in its general fund: cash of $27,750 and investments of $83,750. In addition, it holds a small building bought on January 1, 2016, for general government purposes for $304,000 and related long-term debt of $243,200. The building is being depreciated on the straight-line method over 10 years. The interest rate is 10 percent. The general fund has four separate functions: general government, public safety, public works,...

  • A local government has the following transactions during the current fiscal period. Prepare journal entries without...

    A local government has the following transactions during the current fiscal period. Prepare journal entries without dollar amounts, first for fund financial statements and then for government-wide financial statements. a. The budget for the police department, ambulance service, and other ongoing activities is passed. Funding is from property taxes, transfers, and bond proceeds. All monetary outflows will be for expenses and fixed assets. A deficit is projected. b. A bond is issued at face value to fund the construction of...

  • Best Practices, Inc., is a management consulting firm. Its Corporate Division advises private firms on the adoption and use of cost management systems. Government Division consults with state and local governments. Government Division has a client that is

    Best Practices, Inc., is a management consulting firm. Its Corporate Division advises private firms on the adoption and use of cost management systems. Government Division consults with state and local governments. Government Division has a client that is interested in implementing an activity-based costing system in its public works department. The division’s head approached the head of Corporate Division about using one of its associates. Corporate Division charges clients $645 per hour for associate services, the same rate other consulting...

  • For each of the following indicate the amount of revenue that Beanville should recognize in its...

    For each of the following indicate the amount of revenue that Beanville should recognize in its 2017 (1) government-wide statements and (2) governmental fund statements. Provide a brief description of explanation for your responses. 1. The state in which Beanville is located collects sales taxes for its cities and other local governments. The state permits small merchants to remit sales taxes quarterly. The state salces tax rate is 6%. In December 2016, city merchants collected $50 million in sales taxes...

  • Fonseca, Ruiz, and Dunn is a large, local accounting firm located in a southwestern city. Carlos...

    Fonseca, Ruiz, and Dunn is a large, local accounting firm located in a southwestern city. Carlos Ruiz, one of the firm's founders, appreciates the success his firm has enjoyed and wants to give something back to his community. He believes that an inexpensive accounting services clinic could provide basic accounting services for small businesses located in the barrio. He wants to price the services at cost. Since the clinic is brand new, it has no experience to go on. Carlos...

  • The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on...

    The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Canbbean island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit neighboring Islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...

  • The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on...

    The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...

  • The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on...

    The St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT