Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Accounting


Home >> Accounting Basics

Question: (Interfund transactions) The following interfund transactions occurred in Becca City's General Fund during the year ended December 31, 2012. For each transaction, describe its nature (e.g., is it an interfund transfer, an interfund loan, etc), prepare the journal entry in the General Fund, and prepare the journal entry in the other affected fund.

1. Received an invoice for $15,000 from the City's Electric Utility Fund for electricity service in October.

2. Loaned $30,000 to the Parks Special Revenue Fund in May (the Special Revenue Fund was to repay the loan in September 2012).

3. Gave $50,000 to the City's Mass Transit Authority as a subsidy because transit fares were insufficient to pay the authority's operating expenses.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92510305
  • Price:- $15

Priced at Now at $15, Verified Solution

Have any Question?


Related Questions in Accounting Basics

Question - texas roadhouse opened a new restaurant in

Question - Texas Roadhouse opened a new restaurant in October. During its first three months of operation, the restaurant sold gift cards in various amounts totaling $2,900. The cards are redeemable for meals within one ...

Question select article or case in the last 3-5 years on a

Question: Select article or case in the last 3-5 years on a legal topic and write a paper between 1000 to 1500words analyzing the legal issues raised by the article or case , the implication of the case for business mana ...

Question - alpha technology produces two products a high

Question - Alpha Technology produces two products: a high end laptop under the label Excellent Laptops and an inexpensive desktop under the label Outstanding Computers. The two products use two overhead activities, with ...

Question assessment type case study assignment- purpose

Question: Assessment Type: Case Study Assignment- Purpose: This assessment will allow students to demonstrate their understanding of auditing standards, procedures and techniques, how they are applied in organisational s ...

Question - robin corporation purchased 150000 previously

Question - Robin Corporation purchased 150,000 previously unissued shares of Nest Company's $10 par value common stock directly from Nest for $3,400,000. Nest's stockholder's equity immediately before the investment by R ...

Question - morgan jennings a geography professor invests

Question - Morgan Jennings, a geography professor, invests $99,000 in a parcel of land that is expected to increase in value by 15 percent per year for the next ten years. He will take the proceeds and provide himself wi ...

Question - what are the steps to find the expected stock

Question - What are the steps to find the expected stock value in 5 years if it is expected to pay $4.5 per share next year, required return is 12.2 percent and the growth rate is 3.4 percent?

Company accounting questions -a opperman ltd owns all the

COMPANY ACCOUNTING QUESTIONS - (A) Opperman Ltd owns all the share capital of Jewel Ltd. During the year ended 30 June 2018, Opperman Ltd paid a dividend of $20 000, and Jewel Ltd paid and declared dividends of $10 000 a ...

Assignment - all workings when appropriate must be shown to

Assignment - All workings, when appropriate, must be shown to substantiate your answers. Question 1 - Consolidation: Non-controlling interests Pepsi Ltd acquired 80% of the shares of Soda Ltd on 1 July 2015 for $115 000. ...

Question management research project requirementstopic -

Question: Management Research Project Requirements TOPIC - Each student will submit a research project that selects a current management problem and applies one or more principles of management discussed in the class to ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved