In order to boost revenue, the US post office is selling a new product called “Forever Stamp”. Which fund should be used to recognize these transactions? General fund Special funds Trust funds Revolving funds select one
Q: Explain the terms ‘invoice discounting’ and ‘factoring’ and the advantages of these services to the…
A: answer are as follows
Q: For each of the following monetary policy tools: A. The BSP buys securities in the open market. B.…
A: Monetary policy is the policy that is related to money and this policy is set by the central bank to…
Q: Miss Bae provided information to the government, which led the capture and seizure of smuggled goods…
A: Smuggled Goods- All those things which are illegal according to the provisions of that country, is…
Q: In response to the Coronavirus Crisis, the Fed established I. The Municipal Credit Facility which…
A: Coronavirus pandemic has affected the world and its economy widely. Most organization used to take…
Q: Client transacted on May 9, 2012, Wednesday, to participate in the Peso Fixed Income Fund after…
A: Client transaction = May 9, 2012 May 9, 2012 NAV = 215.391634 May 10, 2012 NAV = 215.337169
Q: onation received for specific purpose is: a. Credited to income and expenditure account b. Shown on…
A: Since there are multiple questions, we will solve only first for you. To get the remaining questions…
Q: .Client transacted on May 7, 2012, Monday, to participate in the Peso Fixed Income Fund within…
A: Client transaction = May 7, 2012 May 7, 2012 NAV = 215.672390
Q: Compare the sources of funds for nonfinancial Businesses in the US, Germany, Japan, and Canada
A: Financial System is a combination of different participants to provide a smooth flow of funds from…
Q: According to the FASB, net assets with donor restrictions are released from restrictions: A. At the…
A: Assets are the resources owned by an entity for the purpose of using them or selling them…
Q: What type of fund would typically be used to account for a municipal bus operation where users are…
A: Fund: It is a sum of money that are set apart for a particular purpose.
Q: explain how this will impact the supply of and demand for loanable funds and the interest rate in…
A: Let us consider an initial situation where the tax cuts for the business sector have not yet been…
Q: Identify which among the cases describe a net supplier of funds. [C1] The government has collected…
A: Supplying funds: It means injecting money into the capital market that is useful for the general…
Q: 1. A farmer borrows fund from a government financing institution. In turn, he uses the fund for…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: "Dhan Samudra' is a bank, which needs immediate cash. This has been the situation since the RBI…
A: Commercial paper: Commercial paper is a commonly used type of unsecured, short-term debt instrument…
Q: What was the main purpose of the Troubled Asset Relief Program (TARP)? A. Sell risky assets to…
A: TARP It is a U.S government program to buy an asset whose value has a major fall and is not…
Q: In discussing charitable contribution deductions, your textbook throws around the phrase “fair…
A: FMV or Fair market value refers to the actual price at which a property can be sold in the open…
Q: Write an essay on explain the terms ‘invoice discounting’ and ‘factoring’ and the advantages of…
A:
Q: Describe the fund accounting implications of adopting that suggestion.
A: 1) General fund; The resources collected and maintained for daily operations of the government is…
Q: Explain the rationale both from theoretical and practical perspective of why MNCs may invest or…
A: Investment Outside the Country: A foreign direct investment (FDI) is the acquisition of a stake in a…
Q: what the pros and cons of replacing current in-kind transfers with cash payments. Why do we not…
A: In kind transfers refers to the assistance or aid or help made in kind form instead of cash payment…
Q: ich of the following was part of the U.S. government’s response to the credit crisis? a) Troubled…
A: Basic Concepts of Accounts and business
Q: For each of the following policy changes, explain why the change is or is not likely to be a Pareto…
A: Arrangements for a Pro-Growth Agenda The essential parts driving my Administration's supportive of…
Q: Atlantis Inc. is in need for funds for its expansion plan. It approaches Uni Bank with its business…
A: Source of funds: The funds required to make a business function is known as business funds. During…
Q: 13. An increase in net assets for a not-for-profit organization that would be labeled exchange…
A: Introduction:- The net assets of a nonprofit organization are equals to the net worth (difference…
Q: ary fund 7. The national government receives a foreign grant conditioned on the construction of a…
A: According IAS 20, A government grant is recognised when there is a reasonable assurance The…
Q: Describe the type of benefit received in each scenario. Either the scenario describes a…
A: PROGRAM:A set of related measures activities with a particular long-term aim. SERVICES: The action…
Q: Which of the following is the major reason why thefuture of the Social Security Trust Fund is…
A: Social Security Trust Fund is a survivor fund which provides monetary benefits to the retiree or…
Q: Make a personal assessment of any government bank in the Philippines.
A: A financial institution (FI) is a company that deals with financial and monetary transactions such…
Q: Which of the following are suppliers of loanable funds? households government units…
A: First question:The suppliers of loanable finds include households, government units and foreign…
Q: 1. Match the Vocabulary word with the definition below. a. Payments to governments that are then…
A: A tax is considered an obligation of the general public that is to be fulfilled for the government.…
Q: Explain the reason why the Employee Provident Fund (EPF) is known as a financial intermediary in…
A: EPF is financial organisation which manages retirement and savings needs of employees in private…
Q: . All revenues shall be remitted to the BTr and included in the Special Fund, unless another law…
A: Answer : 1. false, all revenues need not to be remitted to the bureau of the treasury. 2. Fasle,…
Q: Fiat money has an intrinsic value based on the full faith and trust in government institutions.…
A: Fiat money - This type of money is not backed by any commodity such as gold or silver , but such…
Q: Identify a reason why Social Security as it currently exists is unsustainable in the long run. The…
A: Social security benefits are funded by dedicated payroll tax. Workers pay from their earnings.
Q: Is accrual-based budgeting preferable to cash-based budgeting? The Disability Research Institute…
A: Budgeting seems to be the practice of creating, executing, and managing budgets This is the…
Q: You are the governor of the BSP. The newly elected president wants to have a meeting with you…
A: Monetary policies are the set of monetary tools that are used for the overall economic growth of the…
Q: Using the equation S = |+ NCO we can say a. Savers can do two things with their funds, invest them…
A: S = I+NCO where, S - Savings I- Domestic Investment NCO- Net Capital Outflow
Q: Explain the terms ‘invoice discounting’ and ‘factoring’ and the advantages of these services to the…
A:
Q: Which of the following can be classified under Business Finance? Select one: a. Australian…
A: Business finance Business finance deals with raising and managing capital funds of the…
In order to boost revenue, the US post office is selling a new product called “Forever Stamp”. Which fund should be used to recognize these transactions?
General fund
|
||
Special funds
|
||
Trust funds
|
||
Revolving funds
|
select one
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- For the following situations determine the fund or nonfund account best suited to account for it. A fund or nonfund account may be used more than once SITUATIONS: GOB grant proceeds received for construction of a new elementary school building – Capital Projects Fund Municipal electric utility bonds to be repaid from customer charges – Debt Service Fund General obligation bonds issued to finance construction of a new elementary school building – Investment Trust Funds Activities of a central print shop that provides custom printing services to all campus departments – Enterprise Funds Financial resources set aside to service the principal and interest on general obligation debt A special hotel occupancy sales tax that can only be used for city economic development promotional activities Financial resources legally restricted to the extent that only earnings, and not the principal, may be used to benefit the government or its citizenry – Special Revenue Fund…Trust Fund Worksheet Background An inter vivos trust was created by Isaac Posney. Isaac owned a large department store in Juggins, Utah. Adjacent to the store, Isaac also owned a tract of land that was used as an extra parking lot when the store was having a sale or during the Christmas season. Isaac expected the land to appreciate in value and eventually be sold for an office complex or additional stores. Isaac placed the land into a charitable lead trust, which would hold the land for ten years until Isaac's son would turn 21. At that time, title would be transferred to the son. The store will pay rent to use the land during the interim. The income generated each year from this usage will be given to a local church. The land was currently valued at $416,000. During the first year of this arrangement, the trustee recorded the following cash transactions: Cash inflow: Rental income $78,000 Cash outflows: Insurance $ 5,200 Property taxes 7,800…Question 2. Based on the following information, prepare the statement of sources and uses of funds in the zakat and charity funds for the year 2020. Note that the undistributed Zakat and charity on 1st January is RM910,000. Paid RM70,000 as Zakat for the poor and the needy, Zakat due from the bank RM4,400,000; wayfarer received RM110,000; new converts to Islam received RM245,000; Zakat collection and distribution to staff RM155,000; Donations RM3,700,000; RM330,000 for the heavily indebted and freedom of slaves; Zakat due from accountholders RM990,000.
- Problem #11: Suppose that on January 1, 2021 the balance on a fund is $14940. Suppose that there are contributions to the fund of $5920, $2954, and $5916 made, respectively, on the first day of March, September, and November 2021. In addition, suppose that there are withdrawals from the fund of $5099 and $9068 made, respectively, on the first day of May and September. Finally, suppose that the balance of the fund on the last day of February, April, August, October, and December 2021 is, respectively, $28739, $36236, $32115, $30305, and $16445. (a) Find the dollar-weighted rate of return for the year. (b) Find the time-weighted rate of return for the year. (A) 5.2% (B) 5.59% (C) 5.33% (D) 5.72% (E) 5.46% Problem #11(a): Select v (A) 9.64% (B) 9.77% (C) 9.25% (D) 9.51% (E) 9.38% Problem #11(b): Select vA donor gives the organization a cash contribution to be used for expanding the organizations food pantry program. Is this change in net assets with or without donor restrictions?what the pros and cons of replacing current in-kindtransfers with cash payments. Why do we not already do that with welfare aidpayments
- In July 2022, a donor promises to donate $100,000 in cash to an NFP organization if the local NFP can raise the same amount ($100,000) from other donors by December 2022. How much revenue (if any) should the NFP recognize in July 2022? (do not use $ signs, commas or decimals in your answer) In July 2022, a donor promises to donate $100,000 in cash to an NFP organization on December 1, 2022. How much revenue (if any) should the NFP recognize in July 2022? (do not use $ signs, commas or decimals in your answer)! Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Debits $ Credits 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals 40,000 18,000 4,000 119,000 625,000 $1,479,000 $1,479,000 Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of…The organization sells goods from its online bookstore. Is this change in net assets with or without donor restrictions?
- Compare the sources of funds for nonfinancial Businesses in the US, Germany, Japan, and CanadaRequired information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits Adjustments: $ 29,400 53,000 VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the year ended December 31, 2024 722,000 98,000 504,000 51,000 17,700 40,900 19,700 $ 1,535,700 Credits $ 112,000 32,600 51,000…! Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Required A Required B Complete this question by entering your answers in the tabs below. Required C VILLAGE OF SEASIDE PINES ENTERPRISE FUND Statement of Net Position December 31, 2024 Net Position: Net Investment in Capital Assets Unrestricted Total Net Position Debits Required: a.…