Basis of accounting for governmental activities
What is the rationale of the GASB for requiring two sets of financial statements, each with a different measurement focus and basis of accounting for governmental activities?
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On april 30 a business estimates depreciation on equipment used during the first year of operations to be $2900. A. journalize the adjusting entry required as of april 30th.
How much should be accounted for through debt service funds for payments of principal over the life of the bonds.
During the year, drawings were Foley $15,000 and Wenger $8,000. Net income was $50,000, and the partners share income equally. Prepare the partners capital statement for the year.
Compute the new machine's net present value. Use the incremental cost approach and round all dollar amounts to the nearest whole dollar.
Hopkins Enterprises returned merchandise purchased on account for $500 to Weatherly Company. Weatherly's cost for the goods was $300. To record this transaction,
Prepare a cost of production report using the weighted average method.
On January 1, 2012, Dodge purchased an additional 25% of Gates for $200,000. Any excess cost over book value is attributable to goodwill with an indefinite life.
What are the advantages and disadvantages of using real-time versus batch accounting information architecture?
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