Recording Adopted Budget. The Town of Willingdon adopted the following General Fund budget for fiscal year 2017:

Estimated revenues:

Taxes $15,000,000

Intergovernmental revenues 1,000,000
Licenses and permits 400,000
Fines and forfeits 150,000
Miscellaneous revenus 100,000
Total estimated revenues $16,650,000

Appropriations:

General government $8,000,000
Public Safety 6,000,000
Public works 1,550,000
Health and welfare 950,000
Miscellaneous 100,000
Total appropriations $16,600,000

Required

Prepare the general journal entries to record the adopted buget at the beginning of FY 2017. Show entries in the subsidiary ledger accounts as well as the general ledger accounts.

In general, as long as the number of firms that possess a particular valuable resource or capability is less than the number of firms needed to generate perfect competition dynamics in an industry, that resource or capability can be considered and a potential source of competitive advantage.answers: valuablerareinimitableun-substitutable

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.