Ming another question will save the response Question 3 9 points The City of St. Das...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ming another question will save the response Question 3 9 points The City of St. Das received a gift of $2.000.000 from a local resident on April 1, 2020 and signed an agreement that the funds would be invested permanently and that the wooms would be used to maintain the city cemetery. The foong Mansactions took place during the year ended December 31, 2020 (a) The gift was recorded on April 1 (b) On Apr 1, 2020, XYZ Company bonds were purchased in the amount of $1,950,000, at par. The bonds carry an annual interest rate of 5 percent, payable semiannually on October 1 and (e) On October 1, the semiannual interest was received. (d) From October 1 through December 1, payments were made totaling $16,000 to a lawn service. (el On December 31, an aconual was made for interest. (f) Also on December 31, a reading of the financial press indicated that XYZ bonds had a fair value of $1.945,000, exclusive of accrued interest (g) The books were closed uired: and the transactions on the books of the Cemetery Perpetual Care Fund toolbar, press ALT F10 (PC) or ALT-FN-F10 (Mac) IUS Paragraph V Arial 10pt hp !!! ini 4 < 2 I. Question 3 of 14 26 O o www Ming another question will save the response Question 3 9 points The City of St. Das received a gift of $2.000.000 from a local resident on April 1, 2020 and signed an agreement that the funds would be invested permanently and that the wooms would be used to maintain the city cemetery. The foong Mansactions took place during the year ended December 31, 2020 (a) The gift was recorded on April 1 (b) On Apr 1, 2020, XYZ Company bonds were purchased in the amount of $1,950,000, at par. The bonds carry an annual interest rate of 5 percent, payable semiannually on October 1 and (e) On October 1, the semiannual interest was received. (d) From October 1 through December 1, payments were made totaling $16,000 to a lawn service. (el On December 31, an aconual was made for interest. (f) Also on December 31, a reading of the financial press indicated that XYZ bonds had a fair value of $1.945,000, exclusive of accrued interest (g) The books were closed uired: and the transactions on the books of the Cemetery Perpetual Care Fund toolbar, press ALT F10 (PC) or ALT-FN-F10 (Mac) IUS Paragraph V Arial 10pt hp !!! ini 4 < 2 I. Question 3 of 14 26 O o www
Expert Answer:
Answer rating: 100% (QA)
City of St David Journal Enteries Trans Particulars a Cash ac Dr To RevenuesAdd... View the full answer
Related Book For
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0073527055
10th Edition
Authors: Paul A. Copley
Posted Date:
Students also viewed these computer network questions
-
The City of Sharpesburg received a gift of $950,000 from a local resident on June 1, 2012, and signed an agreement that the funds would be invested permanently and that the income would be used to...
-
On July 1, 2011, the City of Belvedere accepted a gift of cash in the amount of $3,000,000 from a number of individuals and foundations and signed an agreement to establish a private-purpose trust....
-
The City of Sharpesburg received a gift of $1,800,000 from a local resident on June 1, 2020, and signed an agreement that the funds would be invested permanently and that the income would be used to...
-
Identify how balance sheet quality and earnings quality were impaired in each of the following accounting scandals: Waste Management 1988 - Falsely increased the useful lives of long-lived tangible...
-
McGoun Industries pays income taxes on capital gains at a rate of 30 percent. At December 31, 2011, the company owns marketable securities that cost $90,000 but have a current market value of...
-
Figure Q17.13 shows a light wave incident on and passing through a thin soap film. Reflections from the front and back surfaces of the film create smaller waves (not shown that travel to the left of...
-
How is technology being used by firms to promote their products and how does this influence sales activities?
-
Zelmer Company manufactures tablecloths. Sales have grown rapidly over the past 2 years. As a result, the president has installed a budgetary control system for 2012. The following data were used in...
-
An old, fatigued washing machine has some loose fasteners which protrude inside the drum and latch onto the clothing during the spin cycle as shown in Fig. 1. An approximation of the out-of-balance...
-
Samuel C. Mazilly wrote a personal check that was drawn on Calcasieu- Marine National Bank of Lake Charles, Inc. (CMN Bank). The check was made payable to the order of Lee St. Mary and was delivered...
-
4) Use Gaussian elimination (with no pivoting, with partial pivoting, and with scaled partial pivoting) and three-digit chopping arithmetic to solve the following linear systems, and compare the...
-
Describe the significance of constraints and how they relate to business rules.
-
Describe the difference between concrete and abstract classes and give an example for each.
-
Explain the role of parameters and return values in exchanging messages.
-
Explain parameters and return values in the framework of messages. Provide examples.
-
The table shows experimental values of the variables x and y. The variables are known to be related by the equation y = 10 a b x , where a and b are constants. a. Draw the graph of lg y against x....
-
Response and thoughts on this opinion and info on Analyzing a country risk assessment, supporting info on the info/your opinion on this subject and what this means? Analyze Country Risk Assessment. I...
-
Distinguish among total-moisture content, free-moisture content, equilibrium-moisture content, unbound moisture, and bound moisture.
-
The City of Graftons records reflected the following budget and actual data for the General Fund for the fiscal year ended June 30, 2012. 1. Estimated revenues: Taxes (Property) ..... $3,000,000...
-
The town council of Riverside met in December 2011. The council estimated revenues for 2012 to be $750,000 from property taxes and $150,000 from business licenses. The appropriations budget from the...
-
With regard to filing requirements for 501(c)(3) organizations: a. List those entities that are not required to file. b. What are the three financial statements required in Form 990?
-
Fill in the Blank. Vibration neutralizer is also known as dynamic vibration ____________.
-
True or False. The transmissibility is also called the transmission ratio.
-
Masses of \(1 \mathrm{~kg}, 3 \mathrm{~kg}\), and \(2 \mathrm{~kg}\) are located at radii \(50 \mathrm{~mm}, 75 \mathrm{~mm}\), and \(25 \mathrm{~mm}\) in the planes \(C, D\), and \(E\),...
Study smarter with the SolutionInn App