Badger Township needs to close out its General Fund budget a…
Badger Township needs to close out its General Fund budget and actuals ledgers. Assume that Badger Township has a balance remaining of $245,000 in encumbrances outstanding as of the end of the year. The outstanding invoices are expected to be honored in the next fiscal year. Badger’s actuals ledger closing entry will include:
Read DetailsIn the last fiscal year, you received notification that your…
In the last fiscal year, you received notification that your not-for-profit organization has been named in the will of one of your long-time benefactors who has passed away. The will stipulates that the funds must be used to improve the buildings in your not-for-profit organization’s summer camp. The lawyer told you that you would receive $300,000 and you recorded the appropriate journal entry at this time. However, the not-for-profit received a check for $312,000, $12,000 more than you had expected. Which of the following journal entries should be recorded?
Read DetailsThe Town of Badger reports a net increase in its governmenta…
The Town of Badger reports a net increase in its governmental funds of $15,000 in its fund financial statements. During the year, it issued a bond for $50,000 and paid down $2,000 of the bond principal. After making necessary adjustments to prepare its government-wide statement of activities for the year, what amount should it report for the change in net position?
Read DetailsDuring the current year, Badger County levied $3,000,000 in…
During the current year, Badger County levied $3,000,000 in property taxes, 1% of which is expected to be uncollectible. During the year, the county collected $2,700,000. Badger County expects to collect the remaining amounts owed more than 60 days after the close of its fiscal year. What amount should Badger County report as deferred property tax revenue in its General Fund balance sheet for the current year?
Read DetailsThe order reads to start a Nitroglycerin drip at 4 mcg/min o…
The order reads to start a Nitroglycerin drip at 4 mcg/min on a patient. Nitroglycerin is mixed 50mg in 250ml of D5W. The patient weighs 75 kg. What rate will the IV pump be set in mL/hr? Round the answer to the nearest 10th. Put units of measurement in the answer. [BLANK-1]
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