NYC Enterprise Fund?
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The NYC has the following activities: the NYC operated transportation-$10,000, NYC operated hospital-$20,000 and NYC operated Café-$30,000. How much should be accounted for in the NYC Enterprise Fund?
$10,000
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$20,000 |
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$30,000 |
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$60,000 |
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- In 2018, Pyle Hospital received a $250,000 pure endowment grant. Also in 2018, Pyle’s governing board designated, for special uses, $300,000 that had originated from unrestricted gifts. What amount of these resources should be accounted for as part of the unrestricted net asset class? a. $0 b. $250,000 c. $300,000 d. $550,000Can someone help me with this? 1. The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2024: Beginning balances were: Cash, $95,000; Taxes Receivable, $185, 000; Accounts Payable, $50,000; and Fund Balance, $230, 000. The budget was passed. Estimated revenues amounted to $1,200,000 and appropriations totaled S 1,197,500. All expenditures are classified as General Government. Property taxes were levied in the amount of $902, 000. All of the taxes are expected to be collected before February 2025. Cash receipts totaled $870,000 for property taxes and $272,000 from other revenue. Contracts were issued for contracted services in the amount of $90, 000. Contracted services were performed relating to S82,000 of the contracts with invoices amounting to $81, 500. Other expenditures amounted to $947,000. Accounts payable were paid in the amount of S 1,070,000. The books were closed. Required: Prepare journal entries for the above…The City of Matlock issues $20,000,000 face value of general obligation bonds for $19,920,000. The bonds will be used for the construction of new streets and sidewalks to make downtown more walkable. The City incurred $100,000 in bond issue costs. What is the amount of expenditures that the City report in its Capital Projects Fund? $108,000 $100,000 $8,000 $0
- An Allied Health Scholarship fund wants to insure that it can provide $50,000 annually in scholarships forever How much money would have to be reinvested each year at 8% interest to generate the funds for the scholarships?Arlington Town uses an Internal Service Fund to account for its motor poolactivities. You have the following information:Automobiles: The Motor Pool uses two 6-passenger vans, each costing $90,000and each estimated to have a 5-year life when they were acquired in 2020.Driver salaries: The Motor Pool has a driver-administrator, who earns $90,000a year, and a driver, who earns $70,000.The town uses a rate of 33 percent (to cover benefits, including pensions)for planning purposes.Insurance: In 2020, the town purchased a 3-year automobile accident policyat a cost of $12,000.Fuel and maintenance costs: Based on experience, the driver-administratorestimates that total fuel and maintenance costs for the year will be $16,000.Billing units: To simplify its record keeping, the Motor Pool charges a fixed priceper trip. Arlington’s budget office estimates it will provide 1,600 trips to thetown’s departments in 2021.Arlington Town had the following transactions and events during January 2021:1.…Star City is considering an investment in the community center that is expected to return the following cash flows: Use Exhibit A.8. Year Net Cash Flow 1234in 5 $ 28,000 58,000 88,000 88,000 108,000 This schedule includes all cash inflows from the project, which will also require an immediate $208,000 cash outlay. The city is tax-exempt; therefore, taxes need not be considered. Required: a. What is the net present value of the project if the appropriate discount rate is 22 percent? (Round PV factor to 3 decimal places. Negative amount should be indicated by a minus sign.) Net present value
- The county of Santa Clara is building a new park. The main financing source will be $1,000,000 bond issue. In addition, the general fund will transfer $100,000 transfer to fund the capital project. Please record the journal entries for the Capital Project Fund & the Government-Wide financial statements. 1. The county has signed a contract with Spectacular Construction to construct the park $1,000,000 2.The $1,000,000 bonds were issued at par 3. Spectacular Construction billed the county of Santa Clara $1,000,000 upon completion of the project 4. The park is completedTheodore County uses a General Fund, a Special Revenue Fund, and an Enterprise Fund. The Special Revenue Fund is financed by a grant from the state to provide care for the elderly. The Enterprise Fund provides bus service both to the public and to government agencies. Prepare entries to record these transactions. Identify the funds involved in each case. a. The Enterprise Fund bills the Special Revenue Fund $15,000 for bus service provided to the elderly. b. The General Fund receives an electricity bill for $20,000 and prepares a voucher to pay the bill. The General Fund then bills the Special Revenue Fund for $3,000, representing the portion of the electricity bill applicable to the senior citizens building. C. The Enterprise Fund is short of cash to pay its bills. The General Fund lends the Enterprise Fund $50,000 in cash, which will be repaid before the end of the year. d. The General Fund pays cash of $100,000 to the Enterprise Fund as a subsidy to help meet the operating costs of…This year Southfork began work on a senior center to hold activities for its growing senior citizen population. It is to be financed by a $5,000,000 bond issue, a $500,000 grant, and a $500,000 General Fund transfer. The following transactions occurred during the current year: The General Fund transferred $500,000 to the Senior Center Capital Projects Fund. A plot of land was purchased for $400,000 in cash. (This cost had not been encumbered.) Preliminary planning and engineering costs of $95,000 were vouchered. (This cost had not been encumbered.) A contract was signed with Sunset Construction Company for the major part of the project on a bid of $4,950,000. The $5,000,000 bonds were issued at par. Temporary investments were purchased at a cost of $3,500,000. A payable was recorded for a $49,500 billing from the Water and Sewer enterprise fund for the cost of extending water pipes to the new building. (This cost had not been encumbered.) An invoice in the amount of $1,500,000 was…
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