BUSINESS COLLEGE

In what circumstance is a Capital Projects Fund required to be used in governmental accounting? Select one: A. To record the acquisition or construction of all major capital assets, except infrastructure assets B. To record the acquisition or construction of all capital assets C. When capital projects are at least partially financed by general obligation bond proceeds D. To record the acquisition or construction of any capital asset that is not recorded in an Enterprise Fund

Answers

Answer 1
Answer:

The correct answer is C) When capital projects are at least partially financed by general obligation bond proceeds.

The circumstance when a Capital Projects Fund is required to be used in governmental accounting is "When capital projects are at least partially financed by general obligation bond proceeds."

In governmental accounting, capital project fund serves to trace the financial resources that are used to have a capital asset that is considered major. This capital project has long-time goals and has large costs. The fund does not run forever. When the asset is done, the fund is terminated. You use this king of capital projects fund when there are plans to build public infrastructure that benefits the community such as roads, bridges, dams, or transportation projects.

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__ analysis is based on the concept that the longer you have to wait to receive money, the less valuable it is right now.
Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. April 2 Invested $34,830 cash and equipment valued at $15,540 in the business. 2 Hired a secretary-receptionist at a salary of $320 per week payable monthly. 3 Purchased supplies on account $830. (Debit an asset account.) 7 Paid office rent of $630 for the month. 11 Completed a tax assignment and billed client $1,360 for services rendered. (Use Service Revenue account.) 12 Received $3,940 advance on a management consulting engagement. 17 Received cash of $2,950 for services completed for Ferengi Co. 21 Paid insurance expense $150. 30 Paid secretary-receptionist $1,280 for the month. 30 A count of supplies indicated that $130 of supplies had been used. 30 Purchased a new computer for $7,000 with personal funds. (The computer will be used exclusively for business purposes.) Journalize the transactions in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:Total machine-hours 30,400Total fixed manufacturing overhead cost $425,600Variable manufacturing overhead per machine-hour $5Recently, Job T687 was completed with the following characteristics:Number of units in the job 10Total machine-hours 20Direct materials $590Direct labor cost $1,180The unit product cost for is closest to:a. $415b. $218c. $118d. $109
The difference between the small business owner and the entrepreneur is that the entrepreneur:_________ a) assumes the risk of the business manages b) the business is responsible for the profits of the business c) is accurately described by all of the above files taxes for the business

The management of Kabanuck Corporation is considering dropping product V41B. Data from the company's accounting system appear below:Sales $939,000Variable expenses $413,500Fixed manufacturing expenses $525,500Fixed selling and administrative expenses $353,000All fixed expenses of the company are fully allocated to products in the company's accounting system. Further investigation has revealed that $215,500 of the fixed manufacturing expenses and $126,500 of the fixed selling and administrative expenses are avoidable if product V41B is discontinued.What would be the effect on the company's overall net operating income if product V41B were dropped?

Answers

Answer:

It would be a differential loss of 174,500

Explanation:

Continue Or discontinued  

                       Continued    Discontinued Differential

Sales                     930,000            -                   (930,000)

Variable                    (413,500)           -                     413,500

Tracable Fixed Cost (342,000)           -                    342,000

Allocate cost           (536,500)      (536,500)               -  

Result                   (362,000)      (536,500)       (174,500)

If discountinued, sales, variable cost and tracable fixed cost are zero

Tracable cost

215,500 + 126,500

Allocate cost

total fixed cost - tracable cost

(525,500 + 353,000)   - 342,000

Once we got the numbers we calculate the diffferential income/loss

What would you include in a recommendation to the CEO for a better method for evaluating the performance of the divisions?a.The method used to evaluate the performance of the divisions should be reevaluated.

b.A better divisional performance measure would be the rate of return on investment

c.A better divisional performance measure would be the residual income.

d.None of these choices would be included.

e.All of these choices (a, b & c) would be included.

Answers

Answer:

Option D                      

Explanation:

In simple words, method of performance division is considered to be effective when it depicts a true picture, not because it gives a sound position of the organisation as waned by the managers.

Thus, reticulation should not be done. Also, Divisional performance should be judged by some other aspects like time taken to perform the job or wastage done by them etc.

erekes Manufacturing Corporation has prepared the following overhead budget for next month. Activity level 3,200 machine-hours Variable overhead costs: Supplies $ 16,640 Indirect labor 29,120 Fixed overhead costs: Supervision 15,400 Utilities 6,600 Depreciation 7,600 Total overhead cost $ 75,360 The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 3,100 machine-hours rather than 3,200 machine-hours

Answers

Answer:

Variable overhead= $44,330

Fixed overhead= $29,600

Total overhead= $73,930

Explanation:

Giving the following information:

Total variable overhead= $45,760

Total fixed overhead= $29,600

Total overhead cost= $75,360

First, we need to calculate the  variable predetermined overhead rate:

Variable predetermined overhead rate= 45,760/3,200= $14.3 per machine hour

Now, for 3,100 hours:

Variable overhead= 14.3*3,100= $44,330

Fixed overhead= $29,600

Total overhead= $73,930

Sundar is preparing a research paper and has included the map above. His topic has to address negative externalities related to natural resources. Sundar is most likely writing a paper with which of the following titles?

Answers

Answer:

The possible topics for writing a research paper:

  • To write some research paper or perform any work related in order to address the negative externalities related to natural resources, Sundar must have some idea about the air pollution and its causes, as each person who wants to spread the idea about natural phenomenons or process must know about one of the most talk about terms including the environmental pollution and the factors that are causing it.
  • So, we can have our guess and the possible answer on which Sundar can write a research paper which might be, "Humanity spreads: air pollution and deforestation".
The answer to this question would be, Humanity Spreads: Air pollution and Deforestation.

Please note that it is useful to add the options provided with the question, in order to get an accurate answer and have your question answered quicker.

Hope this helps!!

Consider a firm with a contract to sell an asset for $138,000 five years from now. the asset costs $74,000 to produce today. given a relevant discount rate on this asset of 12 percent per year, calculate the profit the firm will make on this asset.

Answers

The cost to produce today = 74000

At a discount of 12%, the future value of costs in 5 years = PV*(1+r)^n where PV = 74000, r= 12% = 0.12 and n = 5 years = 5

The value of costs in 5 years = 74000*(1+0.12)^5

The value of costs in 5 years = 74000*1.12^5

The value of costs in 5 years 130,413.28

Price in 5 years = 138,000

Profit = 138,000-130,413.28 =  7,586.72

The profit the firm will make on this asset (considering time value of money) = $7,586.72

As a result of several factors, aggregate demand decreased during the Great Depression. One factor would be:

Answers

Answer: decrease in expected income

Explanation:

The Great Depression began due to the crash of the stock market in 1929 which caused fear and millions of investors lost their businesses.

This led to the reduction in consumer spending. Also, there was a reduction in investment which caused industrial output decline and decrease in employment opportunities.

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