tmoneytj28

29.05.2021 • 

Business

Napoleonville Debt Service Fund Concert hall Bond fund
Trail Balance
July 1,2006
Cash $60,000
Investment 40,000
Unreserved Fund Balance $100,000
Total $100,000 $100,000
The following transactions took place between July 1, 2006 and June 30, 2007
1. The city council of Napoleonville legally adopted the budget for the Concert Hall bond fund
for the fiscal year. The estimated revenue totaled $100,000, the estimated other financing
source totaled $50,000 and appropriation totaled $125,000.
2. The general fund transferred $50,000 to the fund.
3. To provide additional resources to service the bond issue, a tax was levied upon the
citizens. The total levy was $100,000 of which $95,000 expected to be collected. Assume
the allowance method is used.
4. Tax of $60,000 was collected.
5. Income received in cash from the investment totaled $1,000.
6. Taxes of $30,000 were collected.
7. Liability of $37,500 for interest was recorded, and that amount of cash was transferred to
the fiscal agent.
8. The fiscal agent reported that all the interest has been paid.
9. A fee of $500 was paid to the fiscal agent.
10. Investment income totaling $1,000 was received.
11. The liability for interest in the amount of $37,500 and principal in the amount of $50,000
were recorded and the total was transferred to the fiscal agent.
12. The fiscal agent reported that $45,000 of principal and $35,000 of interest were paid.
13. Investment revenue of $500 was accrued.
Required:
a) Prepare the journal entries to record the above transactions on the books of the
Concert Hall bond fund.
b) Prepare a trial balance for the Concert Hall bond fund as of June 30,2007.
c) Prepare statement of revenues, expenditure and changes in fund balance and balance
sheet for the concert hall bond.
d) Prepare closing entireties for the concert hall bond fund

Ответ:

micky956

09.04.2021

Business

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The correct options could be 2, 3 and 4.

Explanation:

When an accident happens in a production unit, usually the work is stopped to make the things up and put them back to work. If workers gets injured due to that accident, they are replaced with the new workers immediately, and to hire the workers for this job immediately may result in the hiring of less competent workers that might do the same job in more time, thus reducing the productivity and can harm the quality of the product due to less knowledge or training about the job. Secondly, when accident happens, the work is stopped up till all security checks are done. So a lot of time is wasted and when the work gets start again, the quality could slip in effort to make up for the lost time. In this way the quality of the product may be affected and the profits of the organization may get down.

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