INTERMEDIATE ACCOUNTING ACCESS 540 DAY
10th Edition
ISBN: 9781264706327
Author: SPICELAND
Publisher: MCG
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Chapter 12, Problem 12.24Q
(Based on Appendix 12A) Northwest Carburetor Company established a fund in 2015 to accumulate money for a new plant scheduled for construction in 2018. How should this special purpose fund be reported in Northwest’s
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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, 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…
!
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.…
Chapter 12 Solutions
INTERMEDIATE ACCOUNTING ACCESS 540 DAY
Ch. 12 - All investments in debt securities are classified...Ch. 12 - When market rates of interest rise after a...Ch. 12 - Does GAAP distinguish between fair values that are...Ch. 12 - When a debt investment is acquired to be held for...Ch. 12 - Prob. 12.5QCh. 12 - What is comprehensive income? Its composition...Ch. 12 - Why are holding gains and losses treated...Ch. 12 - Prob. 12.8QCh. 12 - Prob. 12.9QCh. 12 - Prob. 12.10Q
Ch. 12 - Under IFRS No. 9, which reporting categories are...Ch. 12 - Prob. 12.12QCh. 12 - Do U.S. GAAP and IFRS differ in the amount of...Ch. 12 - Under what circumstances is the equity method used...Ch. 12 - The equity method has been referred to as a...Ch. 12 - In the application of the equity method, how...Ch. 12 - Prob. 12.17QCh. 12 - Prob. 12.18QCh. 12 - Prob. 12.19QCh. 12 - How does IFRS differ from U.S. GAAP with respect...Ch. 12 - What is the effect of a company electing the fair...Ch. 12 - Define a financial instrument. Provide three...Ch. 12 - Some financial instruments are called derivatives....Ch. 12 - (Based on Appendix 12A) Northwest Carburetor...Ch. 12 - Prob. 12.25QCh. 12 - Prob. 12.26QCh. 12 - (Based on Appendix 12B) Reporting an investment at...Ch. 12 - Prob. 12.28QCh. 12 - Prob. 12.17BECh. 12 - Prob. 12.18BECh. 12 - Prob. 12.20BECh. 12 - Prob. 12.8ECh. 12 - Prob. 12.15PCh. 12 - Prob. 12.2DMPCh. 12 - Prob. 12.4DMPCh. 12 - Continuing Cases Target Case LO12-4, LO12-6...
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What is Fund Accounting?; Author: Aplos;https://www.youtube.com/watch?v=W5D5Dr0j9j4;License: Standard Youtube License