subject
Business, 14.04.2020 17:52 karena13aguirre

1. At the beginning of fiscal 2019, a county government acquires equipment for $4,000,000. The equipment has an estimated life of 5 years, and straight-line depreciation is used, with no residual value, if appropriate. At the end of fiscal 2020 (two years later), the government disposes of the equipment for $1,800,000. At the beginning of fiscal 2019, a county government acquires equipment for $4,000,000. The equipment has an estimated life of 5 years, and straight-line depreciation is used, with no residual value, if appropriate. At the end of fiscal 2020 (two years later), the government disposes of the equipment for $1,800,000. If the equipment is reported in the general fund, how is its disposal reported in the fiscal 2020 CAFR? A. $1,800,000 revenue in the governmental funds operating statement and $600,000 loss in the government-wide statement of activities. B. $600,000 loss in the governmental funds operating statement and the government-wide statement of activities. C. $1,800,000 other financing source in the governmental funds operating statement and $600,000 loss in the government-wide statement of activities. D. $1,800,000 revenue in the governmental funds operating statement and the government-wide statement of activities.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 08:00
How do communism and socialism differ in terms of the role that government plays in the economy ?
Answers: 1
question
Business, 22.06.2019 15:20
Kelso electric is debating between a leveraged and an unleveraged capital structure. the all equity capital structure would consist of 40,000 shares of stock. the debt and equity option would consist of 25,000 shares of stock plus $280,000 of debt with an interest rate of 7 percent. what is the break-even level of earnings before interest and taxes between these two options?
Answers: 2
question
Business, 22.06.2019 19:00
For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?
Answers: 1
question
Business, 23.06.2019 00:00
The gorman group is a financial planning services firm owned and operated by nicole gorman. as of october 31, 2016, the end of the fiscal year, the accountant for the gorman group prepared an end-of-period spreadsheet, part of which follows:
Answers: 2
You know the right answer?
1. At the beginning of fiscal 2019, a county government acquires equipment for $4,000,000. The equip...
Questions
question
Mathematics, 16.11.2020 19:10
question
Mathematics, 16.11.2020 19:10
question
Mathematics, 16.11.2020 19:10
question
English, 16.11.2020 19:10
Questions on the website: 13722367