What is the accounting treatment if an internal service fund recovers more or less than the costs
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
Since an internal service fund is basically operated on a business basis the amount it char...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-0078025822
17th edition
Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson
Question Posted:
Students also viewed these Accounting questions
-
What is the accounting treatment for supplies inventories if the purchases method is used to record their acquisition?
-
Cost for inventory purposes should be determined by the inventory cost flow method best reflecting periodic income. Required: a. Describe the inventory cost flow assumptions of (1) average-cost, (2)...
-
Explain the difference between an idle asset and an abandoned asset. What is the accounting treatment for an asset that a company is abandoning?
-
A sample of size n is randomly selected from a non-normal population with mean and standard deviation o. a. Describe the mean and standard deviation of the sampling distribution of X for all samples...
-
Susan is expecting the returns on the market portfolio to be negative in the near term. Since she is managing a stock mutual fund, she must remain invested in a portfolio of stocks. However, she is...
-
What is affirmative action? What is an affirmative action plan? Do you feel that affirmative action is a good way to remedy past discrimination? Why or why not?
-
On March 13, 1963, Ernesto Miranda was arrested for kidnapping and rape and taken to a Phoenix police station. After being identified by the complaining witness, he was questioned by two police...
-
Gerrad Manufacturing has projected sales of its product for the next six months as follows: January ........ 300 units February ......... 700 units March .........1,000 units April ......... 900...
-
Direct labor-hours Machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Required: 1. Compute...
-
Company A considers acquiring company B. Shares of the company A trade at $30 and there are 5,000 of A shares outstanding. Company B has 200 shares outstanding worth $100 each. If A acquires B, then...
-
Although proprietary funds are often compared to for-profit businesses, there are several differences between accounting for proprietary funds and accounting for a for-profit organization. Identify...
-
When do GASB standards require inter fund receivables and payables to be reported as Internal Balances?
-
How can you tell which indifference curves represent higher or lower levels of utility?
-
if x 1 x - 3 if x > 1 is given. Find the value of a, for the continuity of f(x) at x = 1. 4-) f(x) = 5-) f(x) = 2x + a x-4 is given. Sketch the graph of f(x).
-
Consider the following function. 1 (x - 3) Determine whether f(x) approaches or - as x approaches 3 from the left and from the right. f(x) = (a) lim f(x) x-3- lim f(x) (b)x x-3+
-
Identify and explain in detail the primary problem at Duncan.
-
Let f: D R and g: D R be functions (D nonempty). a) Suppose f(x) g(y) for all x ED and y E D. Show that sup f(x) inf g(x). XED b) Find a specific D, f, and g, such that f(x) g(x) for all x D, but...
-
6. The Capital of Apple Co. Ltd is as follows: 10% Preference Share of OMR 10 each Equity Shares of OMR 10 each OMR 1,000,000 4,000,000 5,000,000 OMR 500,000 200,000 Further Information Profit after...
-
What would be the current in the lightbulb in Example 4.6 if it sustained a voltage drop of 120. V and required a power of 100. W? Example 4.6 A battery sustains a voltage drop of 3.0 V across a...
-
A researcher reports a significant two-way between-subjects ANOVA, F(3, 40) = 2.96. State the decision to retain or reject the null hypothesis for this test.
-
Multiple Choice. Choose the best answer. 1. Special purpose governments differ from general purpose governments in that special purpose governments: a. Provide a single function or limited range of...
-
Multiple Choice. Choose the best answer. 1. Special purpose governments differ from general purpose governments in that special purpose governments: a. Provide a single function or limited range of...
-
Multiple Choice. Choose the best answer. 1. Special purpose governments differ from general purpose governments in that special purpose governments: a. Provide a single function or limited range of...
-
If you could model yourself after one or more of the historical leaders we discussed in this chapter, whom would you model yourself after? Please learn more about the leader you chose. Identify two...
-
You are a market researcher. You've been asked to compare the way 2 news sources present the same issue for possible consideration by your market research department and public relations staff....
-
Explain about the application software available for Unix operating system?
Study smarter with the SolutionInn App