Items purchased included a personal computer costing $4,500 and furniture for the mayor’s office costing $14,000....
Items purchased included a personal computer costing $4,500 and furniture for the mayor’s office costing $14,000. How much should be reported in the General Fund balance sheet?
Homework Answers
Answer:$0
Personal Computer costing $4500 and Furniture costing $14000 will be classified as Capital Assets in Government wide statement of net position at june 30.
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Items purchased included a personal computer costing $4,500 and
furniture for the mayor’s office costing $14,000....
4) A properly prepared schedule of revenues, expenditures, and changes in fund halar budget and actual...
4) A properly prepared schedule of revenues, expenditures, and changes in fund halar budget and actual will include which of the following columns? A) Actual revenue and expenditure amounts on the GAAP basis. B) Actual revenue and expenditure amounts on the budget basis. C) Encumbrances outstanding at year-end. D) Unexpended appropriations. 5) Which of the following would properly be reported in the operating statement of a governmental fund? A) Interest on a tax anticipation note issued and repaid during the...
A listing of the Minerva Company's inventory items at the end of 2007 totals $85,000. Included...
A listing of the Minerva Company's inventory items at the end of 2007 totals $85,000. Included in this amount are the following items: Merchandise in transit as of 12/21/2007, purchased FOB shipping point $5,800 Goods held by Minerva as consignee from Nirvana 6,000 Goods out on consignment, at cost plus 50% markup on cost plus $100 delivery charge. 4,600 What is the dollar amount of Minerva's 2007 ending inventory that should be reported on the balance sheet? a....
Record depreciation on computers. Record depreciation on office furniture. Record the adjusting entry related to salaries....
Record depreciation on computers.
Record depreciation on office furniture.
Record the adjusting entry related to salaries.
Record the adjusting entry related to insurance.
Record the adjusting entry related to office supplies.
Record the adjusting entry related to utilities.
1,170 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments...
MACRS basic application - Assume a company that started business in 2xd purchased office furniture on...
MACRS basic application - Assume a company that started business in 2xd purchased office furniture on February 14, 2xx3, at a price of $10,000. Further assume that this was the only purchase of assets in the year and that no special depreciation rules apply. The equipment is Office equipment classified as MACRS 7-year property. What should the company consider given that this is its only property placed in service for the year? What is the tax depreciation expense for 2xx3?...
XLS 4-28 Job order costing (CMA adapted) (LO 5) ErgoFurn, Inc. manufactures ergonomically designed computer furniture....
XLS 4-28 Job order costing (CMA adapted) (LO 5) ErgoFurn, Inc. manufactures ergonomically designed computer furniture. ErgoFurn uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. Item Units Accumulated Cost CC723 Computer caddy 20,000 $ 900,000 CH291 Chair 15,000 431,000 PS812 Printer stand 25,000 250,000 $1,581,000 On November 30, ErgoFurn's Raw Materials Inventory account totaled $668,000, and its Finished Goods Inventory totaled $3,456,400. ErgoFurn applies manufacturing overhead on...
Cash and Other Items The following information has been extracted from Atwood Corporation's accounting records: Cash...
Cash and Other Items The following information has been extracted from Atwood Corporation's accounting records: Cash on hand (undeposited sales receipts) Certificates of deposit Customer's note receivable Reconciled balance in University National Bank checking account Reconciled balance in Second National Bank checking account Balance in City Federal savings account Customer's postdated check Employee travel advances $ 1,535 25,000 1,000 (350) 9,260 7,410 980 1,200 Cash in bond sinking fund 8,300 Bond sinking fund investments 14,600 Required: 1. Determine the balance...
Question 3 Sunland, Inc. manufactures ergonomically designed computer furniture. Sunland uses a job order costing system....
Question 3 Sunland, Inc. manufactures ergonomically designed computer furniture. Sunland uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. Item Units Accumulated Cost CC723 Computer caddy 21,000 $930,000 CH291 Chair 15,000 439,000 PS812 Printer stand 27,000 253,000 $1,622,000 On November 30, Sunland’s Raw Materials Inventory account totaled $697,000, and its Finished Goods Inventory totaled $3,469,400. Sunland applies manufacturing overhead on the basis of machine hours. The company’s manufacturing...
Question 3 Coronado, Inc. manufactures ergonomically designed computer furniture. Coronado uses a job order costing system....
Question 3 Coronado, Inc. manufactures ergonomically designed computer furniture. Coronado uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Units Job No. CC723 CH291 PS812 Item Computer caddy Chair Printer stand Accumulated Cost $980,000 434,000 296,000 $1,710,000 20,000 28,000 and On November 30, Coronado's Raw Materials Inventory account totaled $677,000, and its Finished Goods Inventory totaled $3,464,400. Coronado applies manufacturing overhead on the basis of machine hours. The company's manufacturing...
need exercise 2.4 answered a,b,c please thank you The balance sheet items Ult order. You are...
need exercise 2.4 answered a,b,c please thank you
The balance sheet items Ult order. You are to prepare a balance sheet for the compu illustrated in Exhibit 2-9. You must compute the amount for Retained Earnings. LO24 EXERCISE 2.3 Preparing a Balance Sheet 210,000 Land ... Accounts Payable. Accounts Receivable .. Cash .. $90,000 43,800 56,700 36,300 Office Equipment .............$ 12,400 Building ... Capital Stock ... 88,000 Notes Payable .. 207.000 Retained Earnings LO2-2 EXERCISE 2.4 Accounting Principles and Asset...
Problem 4-28 Bramble, Inc. manufactures ergonomically designed computer furniture. Bramble uses a job order costing system....
Problem 4-28 Bramble, Inc. manufactures ergonomically designed computer furniture. Bramble uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. CC723 CH291 PS812 Item Computer caddy Chair Printer stand Units 22,000 18,000 30,000 Accumulated Cost $1,000,000 435,000 274,000 $1,709,000 On November 30, Bramble's Raw Materials Inventory account totaled $668,000, and its Finished Goods Inventory totaled $3,496,400. Bramble applies manufacturing overhead on the basis of machine hours. The company's manufacturing...
4) A properly prepared schedule of revenues, expenditures, and changes in fund halar budget and actual will include which of the following columns? A) Actual revenue and expenditure amounts on the GAAP basis. B) Actual revenue and expenditure amounts on the budget basis. C) Encumbrances outstanding at year-end. D) Unexpended appropriations. 5) Which of the following would properly be reported in the operating statement of a governmental fund? A) Interest on a tax anticipation note issued and repaid during the...
Record depreciation on computers.
Record depreciation on office furniture.
Record the adjusting entry related to salaries.
Record the adjusting entry related to insurance.
Record the adjusting entry related to office supplies.
Record the adjusting entry related to utilities.
1,170 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments...
MACRS basic application - Assume a company that started business in 2xd purchased office furniture on February 14, 2xx3, at a price of $10,000. Further assume that this was the only purchase of assets in the year and that no special depreciation rules apply. The equipment is Office equipment classified as MACRS 7-year property. What should the company consider given that this is its only property placed in service for the year? What is the tax depreciation expense for 2xx3?...
XLS 4-28 Job order costing (CMA adapted) (LO 5) ErgoFurn, Inc. manufactures ergonomically designed computer furniture. ErgoFurn uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. Item Units Accumulated Cost CC723 Computer caddy 20,000 $ 900,000 CH291 Chair 15,000 431,000 PS812 Printer stand 25,000 250,000 $1,581,000 On November 30, ErgoFurn's Raw Materials Inventory account totaled $668,000, and its Finished Goods Inventory totaled $3,456,400. ErgoFurn applies manufacturing overhead on...
Cash and Other Items The following information has been extracted from Atwood Corporation's accounting records: Cash on hand (undeposited sales receipts) Certificates of deposit Customer's note receivable Reconciled balance in University National Bank checking account Reconciled balance in Second National Bank checking account Balance in City Federal savings account Customer's postdated check Employee travel advances $ 1,535 25,000 1,000 (350) 9,260 7,410 980 1,200 Cash in bond sinking fund 8,300 Bond sinking fund investments 14,600 Required: 1. Determine the balance...
Question 3 Coronado, Inc. manufactures ergonomically designed computer furniture. Coronado uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Units Job No. CC723 CH291 PS812 Item Computer caddy Chair Printer stand Accumulated Cost $980,000 434,000 296,000 $1,710,000 20,000 28,000 and On November 30, Coronado's Raw Materials Inventory account totaled $677,000, and its Finished Goods Inventory totaled $3,464,400. Coronado applies manufacturing overhead on the basis of machine hours. The company's manufacturing...
need exercise 2.4 answered a,b,c please thank you
The balance sheet items Ult order. You are to prepare a balance sheet for the compu illustrated in Exhibit 2-9. You must compute the amount for Retained Earnings. LO24 EXERCISE 2.3 Preparing a Balance Sheet 210,000 Land ... Accounts Payable. Accounts Receivable .. Cash .. $90,000 43,800 56,700 36,300 Office Equipment .............$ 12,400 Building ... Capital Stock ... 88,000 Notes Payable .. 207.000 Retained Earnings LO2-2 EXERCISE 2.4 Accounting Principles and Asset...
Problem 4-28 Bramble, Inc. manufactures ergonomically designed computer furniture. Bramble uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. CC723 CH291 PS812 Item Computer caddy Chair Printer stand Units 22,000 18,000 30,000 Accumulated Cost $1,000,000 435,000 274,000 $1,709,000 On November 30, Bramble's Raw Materials Inventory account totaled $668,000, and its Finished Goods Inventory totaled $3,496,400. Bramble applies manufacturing overhead on the basis of machine hours. The company's manufacturing...
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