Following are some of the county’s governmental funds. The county has asked you to determine if any of the funds listed should be classified as major funds based on the GASB size criteria.

General Fund Special Debt Service Total of all Total of all

Revenue Fund Fund Governmental Governmental &

Funds Enterprise Funds

Assets 12,000,000 1,000,000 500,000 15,000,000 21,000,000

Liabilities 3,000,000 250,000 30,000 4,580,000 5,890,000

Revenues 10,000,000 600,000 1,450,000 13,770,000 17,123,000

Expenditures/

Expenses 9,859,000 725,000 1,300,000 13,460,000 16,665,000

Required: You must show all your computations in order to receive full credit even if you have the correct final answer!!!

Clearly indicate which fund(s) you believe should be classified as major. Provide all calculations and write out your decision-making for your choice(s).

Required: You must show all your computations in order to receive full credit

Abakery wants to determine how many trays of doughnuts it should prepare each day. demand is normal with a mean of 5 trays and standard deviation of 1 tray. if the owner wants a service level of at least 95%, how many trays should he prepare (rounded to the nearest whole tray)? assume doughnuts have no salvage value after the day is complete.

Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations. issued 2,900 shares of $0.01 par value common stock to investors for cash at $29 per share. borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years. paid $1,000 for the current month's rent of a warehouse and another $1,000 for next month's rent. paid $1,440 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). purchased furniture and fixtures for the warehouse for $16,000, paying $3,200 cash and the rest on account. the amount is due within 30 days. purchased for $2,800 cash the university of pennsylvania, notre dame, the university of texas at austin, and michigan state university baseball caps as inventory to sell online. placed advertisements on google for a total of $340 cash. sold caps totaling $1,900, half of which was charged on account. the cost of the caps sold was $1,100. (hint: make two entries.) made full payment for the furniture and fixtures purchased on account in (e). received $280 from a customer on account.

For each of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both: 1. sec examiner 2. bookkeeping department 3. division controller 4. external auditor (public accounting firm) 5. loan officer at the company's bank 6. state tax agency auditor 7. board of directors 8. manager of the service department 9. wall street analyst 10. internal auditor 11. potential investors 12, current stockholders 13. reporter from the wall street journal 14. regional division managers