Explain an agency fund or a governmental fund
Why do the balance sheets of agency funds contain only assets and liabilities, but no fund balances? Why is it often unclear whether the resources relating to a particular activity should be accounted for in an agency fund or a governmental fund?
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List and discuss the age necessary to drive a car, drink alcohol, vote, join the military, get married, own a gun and leave school, along with the condition of public transportation.
At what amount should each of the four desks appear in the company's December 31, 2014, inventory, assuming that the company has adopted a lower-of-FIFO-cost-or-market approach for valuation of inventories on an individual-item basis? (
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For this week's discussion assignment look at the balance sheet of the company you chose in Week 1 (General Motors). Calculate the current ratio, quick ratio, and debt to equity ratio for your company.
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