(reporting reconciliation between fund and government-wide financial statements)
return...
Business, 16.11.2019 06:31 BakerElsie02
(reporting reconciliation between fund and government-wide financial statements)
return to your solution to exercise e10-28, regarding oliver city’s capital assets. using the journal
entries you prepared for that exercise, prepare the wording and the numbers you would use in describing
the reconciliation of the amounts reported in the two funds’ financial statements to the two government-
wide financial statements.
ex 10-28
oliver city reported capital assets of $4,300,000 and accumulated depreciation of $2,000,000 in the
governmental activities column of its government-wide statement of net position for the year ended
december 31, 2018. the total governmental funds column in oliver’s calendar year 2019 statement
of revenues, expenditures, and changes in fund balances showed that oliver’s capital outlay expendi-
tures were $340,000. oliver city’s director of finance estimated that total depreciation for 2019 was
$200,000. based on this information, prepare journal entries to adjust oliver’s 2019 fund financial
statements so government-wide statements can be prepared
Answers: 1
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Your sister is thinking about starting a new business. the company would require $375,000 of assets, and it would be financed entirely with common stock. she will go forward only if she thinks the firm can provide a 13.5% return on the invested capital, which means that the firm must have an roe of 13.5%. how much net income must be expected to warrant starting the business? a. $41,234b. $43,405c. $45,689d. $48,094e. $50,625
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Clooney corp. establishes a petty cash fund for $225 and issues a credit card to its office manager. by the end of the month, employees made one expenditure from the petty cash fund (entertainment, $20) and three expenditures with the credit card (postage, $59; delivery, $84; supplies expense, $49).record all employee expenditures, and record the entry to replenish the petty cash fund. the credit card balance will be paid later. (if no entry is required for a transaction/event, select "no journal entry required" in the first account record expenditures from credit card and the petty cash fund.
Answers: 2
Business, 22.06.2019 23:30
Rate of return douglas keel, a financial analyst for orange industries, wishes to estimate the rate of return for two similar-risk investments, x and y. douglas's research indicates that the immediate past returns will serve as reasonable estimates of future returns. a year earlier, investment x had a market value of $27 comma 000; and investment y had a market value of $46 comma 000. during the year, investment x generated cash flow of $2 comma 025 and investment y generated cash flow of $ 6 comma 770. the current market values of investments x and y are $28 comma 582 and $46 comma 000, respectively. a. calculate the expected rate of return on investments x and y using the most recent year's data. b. assuming that the two investments are equally risky, which one should douglas recommend? why?
Answers: 1
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