A state government reported a $9,000 increase in net position in the motor pool internal service fund, a $12,000 increase in net position in the water enterprise fund, and a $7,000 increase in the employee pension fund. The motor pool internal service fund provides service primarily to the police department. What amount should the city report as the change in net position for business-type activities in its statement of activities?

Answers

Answer 1

Answer:

Answer: $12,000

Explanation:

Only the $12,000 will be reported in Statement of Activities ( the financial statement used to report revenues and expenses for governmental and business-type activities) as a change in net position for business-type activities.

Why?

The Water Entreprise Fund is the only listed fund type listed that would fall under BUSINESS TYPE because it is an ENTREPRISE Fund. The Motor Pool Internal Service falls under GOVERNMENT ACTIVITIES and the Pension Find is only displayed in the Fund Financial Statements.

Because the Water Entreprise Fund is the only fund here concerned with BUSINESS TYPE activities, it's rise by $12,000 is what will be reported as the Net Change.

Related Questions

Consider two markets: the market for coffee and the market for hot cocoa·The initial equilibrium for both markets is the same, the equilibrium price is $4.50, and the equilibrium quantity is 31.0. When the price is $9.75, the quantity supplied of coffee is 73.0 and the quantity supplied of hot cocoa is 101.0. For simplicity of analysis, the demand for both goods is the same. Using the midpoint formula, calculate the elasticity of supply for hot cocoa. Please round to two decimal places Supply in the market for coffee is O a.more elastic than supply in the market for hot cocoa O b. the same elasticity as supply in the market for hot cocoa. c. There is not enough information to tell which has a higher elasticity. d. less elastic than supply in the market for hot cocoa.
Discuss why two people with similar abilities may have very different expectancies for performing at a high level.
Suppose that there are 50 firms in a monopolistically competitive industry in country A and 50 firms in the same monopolistically competitive industry in country B. If country A and country B engage in international trade, we expect that the total number of firms in this industry: A. will first decrease, then increase. B. will increase. C. will remain unchanged. D. will decrease.
Colicchio Corporation acquired two inventory items at a lump-sum cost of $60,000. The acquisition included 3,000 units of knife X001, and 3,000 units of knife X002. X001 normally sells for $20 per unit, and X002 for $10 per unit. If Colicchio sells 1,000 units of X002, what amount of gross profit should it recognize?
Determining Financial Statement Effects of Write-Offs and Bad Debt Expense Using the Allowance MethodUsing the following categories, indicate the effects of the following transactions. Indicate the accounts affected and the amounts. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.) During the period, customer balances are written off in the amount of $10,000. At the end of the period, bad debt expense is estimated to be $8,000.

Chrissie's Cooking Supply Company has 5,000 skillets in their warehouse at the end of July. One quarter of these skillets were held over from the month of June at a cost of $12 per skillet. The remaining skillets were purchased in July at a cost of $15 per skillet. At the beginning of August they received another 2,000 skillets at a cost of $17 per skillet. The warehouse sold and shipped 2,198 skillets during August. Chrissie's Cooking Supply Company uses LIFO to value their inventory. What would be the remaining balance of skillets in the inventory account at the end of August?

Answers

Answer:

The remaining balance is

Units Unit Cost Total

1.250 $12 $15.000

3.552 $15 $53.280

Total=$68.280

Explanation:

LIFO Perpetual chart is attached.

It shows purchases, sales and balance of each period. To get the ending inventory cost we have to add the cost of all units in the last balance of the month.

That will be,

Units Unit Cost Total

1.250 $12 $15.000

3.552 $15 $53.280

Many people have argued that the skills needed to be successful in today's workforce have changed. What skills do you feel an individual needs to be successful in a job today? Why do you feel these skills are most important?

Answers

Answer:

the skills of:

1) Basic Technology

2) Communication

3) Problem Solving

4) Collaboration

5) Adaptability

6) Multitasking

7) Social Media

Explanation:

Successful employees have common and detailed career goals and plans. Those who do not, however, prefer to flow in their work lives. The person with goals has a strong internal motivation. They are not discouraged when they fail. It is difficult to separate these people from their work and distract them. A person with goals is already motivated for development. Most importantly, an employee with clear goals often has a clearly defined career and development plan, and he already knows what tools, skills and qualifications will help him in that sequence. A person without goals is like a piece of water moving in the direction of sea waves and winds. Wherever the wind blows or where the waves drive, they will go there.

We could say that five general skills that workers say are most important when it comes to getting hired and being successful in the workplace:

Ability and willingness to learn new skills

Critical thinking and problem solving

Collaboration and team work

Interpersonal communication

Ability to analyze and synthesize information.

More specifically, we can list the most important ones nowadays, the skills of:

1) Basic Technology

2) Communication

3) Problem Solving

4) Collaboration

5) Adaptability

6) Multitasking

7) Social Media

A principle under which the intent to form a contract will be judged by outward, objective facts as interpreted by a reasonable person, rather than by the party's own secret, subjective intentions is called:_________

Answers

Answer:

Objective Theory

Explanation:

The Objective theory states that the intent to form a contract will be judged by outward objective facts such as the words and actions of the party instead of the secret, subjective intentions. This theory replaced the Subjective theory in the late nineteenth century. The former theory was of the opinion that the meeting of minds, which translates to the unexpressed intentions of the party would form a basis for interpreting the intent to form a contract.

The objective theory is important as it advocates freedom to a fair hearing, freedom of contract, and personal independence or sovereignty.

Pls help!!! will give brainly!!!Emma is a biomedical engineer who designs robots that perform intricate surgeries. Into which two career clusters that we have considered so far could Emma’s job fall? Give a reason for your choices.

Answers

Answer:

I believe this would be in the Engineering and technology pathway.

Explanation:

Examples of someone in a engineering and technology pathway are people like Biomedical engineers so it makes sense!

If he wanted the cash award of each of the five prizes to be $45,000 and his estate could earn 7% per year, how much would he need to fund his prizes

Answers

Answer:

The answer is $3,214,285.71

Explanation:

Price of each award is $45,000

And there are 5

Therefore, we have 5 x $45,000

=$225,000.

So, $225,000 is the future value.

Rate of return(r) in 7% and it is being assumed that it is forever.

So, so how much will be needed to fund his prizes(present value)?:

PV = FV/r

= $225,000/0.07

=$3,214,285.71

Home Security Systems is analyzing the purchase of manufacturing equipment that will cost $38,000. The annual cash inflows for the next three years will be: Year Cash Flow 1 $ 19,000 2 17,000 3 12,000 Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the financial calculator method. a. Determine the internal rate of return. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) b. With a cost of capital of 14 percent, should the equipment be purchased? No Yes

Answers

Answer:13.74%

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

Using a financial calculator to find the IRR :

Cash flow for year zero = $-38,000.

Cash flow for year one = $ 19,000

Cash flow for year two = $17,000

Cash flow for year three = $12,000

IRR = 13. 74%

If the cost of capital is 14%, the equipment shouldn't be purchased because the IRR is less than the cost of capital.

I hope my answer helps you.

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ak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Balance on 3/1 Job 33 $ 7,500 Job 34 6,000 $ 13,500 Source documents revealed the following during March: Materials Requisitions Forms Labor Time Tickets Status of Job at Month-End Job 33 $ 3,500 $ 6,500 Completed and sold Job 34 6,000 7,800 Completed, but not sold Job 35 4,200 3,250 In process Indirect 1,300 2,140 $ 15,000 $ 19,690 The company applies overhead to products at a rate of 150 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end.

Larry and May own real property equally as tenants in common. Larry dies and in his will, he gave his real property to Kari. Who is the owner of the property?