The seven fund financial statements that are required as part of the basic financial statements by GASB standards are:Statement of net position;Statement of activities;Statement of revenues, expenses, and changes in fund net position;Statement of cash flows;Fiduciary fund statements, including the statement of fiduciary net position and statement of changes in fiduciary net position; andNotes to the financial statements.
In general, the measurement focus and basis of accounting used in preparing each of these statements are as follows:
1. Statement of net position and Statement of activities: The measurement focus is on economic resources and the basis of accounting is accrual basis.
2. Statement of revenues, expenses, and changes in fund net position: The measurement focus is on current financial resources and the basis of accounting is modified accrual basis.
3. Statement of cash flows: The measurement focus is on cash and cash equivalents and the basis of accounting is cash basis or accrual basis.
4. Fiduciary fund statements: The measurement focus and basis of accounting depends on the nature of the fiduciary activity.
5. Notes to the financial statements: These provide additional information and disclosures and have no prescribed measurement focus or basis of accounting.
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8. At the system study phase of ...........
...., the design team attempts to assess whether the
anticipated benefits of the system exceed its projected
costs,
which one is correct ?!
CHOICE OPTIONS A. Data mining B. EXTRACT C. Bolt-ons D. Hadoop E. Virtual private network (VPN) F. Data encryption G. Variety H. Operational feasibility 1. Enterprise application integration (EAI) J.
Operational feasibility would be the ideal answer for the statement. The design team assesses the system's operational viability during the system study phase, which is the first stage in the creation of a system.
This involves determining if the technology can be successfully integrated into the current operating environment and whether the expected benefits of implementation outweigh its projected expenses. Operational viability takes into account elements including resource accessibility, technical prowess, organisational preparation, and the potential influence on ongoing operations. It assists in determining whether the system is operationally realistic and implementable. The additional choices (data mining, extract, bolt-ons, hadoop, virtual private network (VPN), data encryption, variety, and J. The evaluation of anticipated benefits and predicted expenses during the system study phase is not directly related to enterprise application integration (EAI).
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which chart type is ideal for visualizing financial data such as a p&l?
The chart type which is ideal for visualizing financial data such as a profit and loss (P&L) is a: bar chart.
A profit and loss (P&L) statement can be defined as a financial report that provides a summarized information of the following financial data about a business firm:
Total revenues.Expenses.Profit.Loss.Hence, a profit and loss (P&L) statement gives an insight to investors on how a business firm is operating and whether or not it has the ability to generate profits at the end of a business year.
Typically, the chart type which is ideal for visualizing financial data such as a profit and loss (P&L) is a bar chart because each rectangular bar can be used to represent the finance or revenue (cash inflow) of the business firm.
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Full of Fun Industries has been reviewing their advertising spending on traditional media such as television, radio, and print. The noticed that their competitors across the country are spending less on traditional advertising and more on ________, which includes online search, display and video ads, and advertising on social media
Answer to the given question is Digital Advertising.The noticed that their competitors across the country are spending less on traditional advertising and more on Digital Advertising, which includes online search, display and video ads, and advertising on social media
Digital Advertising is a form of advertising that uses digital technologies such as the internet, mobile phones, display advertising, and any other electronic media to promote products and services. It is becoming increasingly popular among businesses due to its ability to reach a wider audience and its cost-effectiveness.
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Explain the project planning steps
Set goals
Prioritize tasks
Create a schedule
Communicate.
Which of the following might vary in on online purchase depending on where the purchaser lives?
A. The quality of the object
B. The sales tax charged
C. The appearance of the item
D. The retail price of the item
Answer:
The sales tax
Explanation:
88 million people live on less than $1. 00 a day. These people are said to be living in _____________.
88 million people live on less than $1. 00 a day. These people are said to be living in absolute poverty.
Poverty is about no longer having enough money to fulfill primary wishes which include meals, garb and safe haven. but, poverty is extra, an awful lot more than just now not having enough cash. the arena bank corporation describes poverty in this manner: “Poverty is hunger. Poverty is loss of safe haven.
We will outline poverty as the circumstance in which the fundamental needs of a own family, like meals, refuge, clothing, and schooling are not fulfilled. it is able to lead to different troubles like poor literacy, unemployment, malnutrition, and so on. A terrible individual is not capable of get education due to lack of cash and consequently stays unemployed.
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E6-11 Reporting Net Sales after Sales Discounts [LO 6-4] T
he following transactions were selected from the records of Evergreen Company:
July 12 Sold merchandise to Wally Butler, who paid the $860 purchase with cash. The goods cost Evergreen Company $530. 1
7 Sold merchandise to Claudio's Chair Company at a selling price of $4,860 on terms 3/10, n/30. The goods cost Evergreen Company $3,430.
18 Sold merchandise to Otto's Ottomans at a selling price of $2,930 on terms 3/10, n/30. The goods cost Evergreen Company $1,830. 23 Received cash from Claudio's Chair Company for the amount due from Jul-17.
31 Received cash from Otto's Ottomans for the amount due from July Jul-18.
Required:
Compute the amount of revenue to be reported for the month ended July 31. (Round your answer to 2 decimal places.)
To compute the amount of revenue to be reported for the month ended July 31, we need to calculate the net sales. Net sales are calculated by subtracting sales discounts from gross sales.
Let's break down the transactions:
Transaction 1: Sold merchandise to Wally Butler for $860 in cash. Since there is no mention of any sales discount, the full selling price of $860 will be included in the net sales.
Transaction 2: Sold merchandise to Claudio's Chair Company for $4,860 on terms 3/10, n/30. This means that if the payment is made within 10 days, a 3% sales discount can be availed. The net amount will be $4,860 - (3% of $4,860) = $4,721.80.
Transaction 3: Sold merchandise to Otto's Ottomans for $2,930 on terms 3/10, n/30. Similar to the previous transaction, a 3% sales discount can be availed if the payment is made within 10 days. The net amount will be $2,930 - (3% of $2,930) = $2,842.10.
Now, let's calculate the total net sales:
$860 (Transaction 1) + $4,721.80 (Transaction 2) + $2,842.10 (Transaction 3) = $8,423.90
Therefore, the amount of revenue to be reported for the month ended July 31 is $8,423.90.
The net sales for the month of July amount to $8,423.90.
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Look at pic for question and answers.
Answer:
It is decreased by the sale amount
Explanation:
An income statement is a financial statement that communicates a business's profitability. An income statement lists the revenues and expenses incurred by a business in a period.
The sale of a company's asset may result in a loss or profit. A profit is treated as an income to the business, but a loss is an expense. When an asset is sold at a loss, business expenses increase. An increase in expenses reduces profits as reported in the income statement.
write short notes by Napier bone
Answer:
Napier's bones is a manually-operated calculating device created by John Napier of Merchiston, Scotland for the calculation of products and quotients of numbers. The method was based on lattice multiplication, and also called 'rabdology', a word invented by Napier. Napier published his version in 1617.
Which of the following documents must an entrepreneur file to create a limited liability company?
A and C only
Articles of Incorporation
Articles of Organization
Operating Agreement
An entrepreneur must file Articles of Organization and an Operating Agreement to create a limited liability company (LLC).
Articles of Organization are the legal documents required to register an LLC with the state government. These documents contain information about the LLC, such as its name, address, and purpose. They also typically include information about the LLC's management structure, such as whether it is managed by its owners (members) or by appointed managers.
An Operating Agreement is a legal document that outlines the ownership and operating procedures of the LLC. It typically covers topics such as how profits and losses will be divided among members, how the LLC will be managed, and how disputes among members will be resolved.
Therefore, to create an LLC, an entrepreneur must file Articles of Organization with the state government and draft an Operating Agreement that outlines the ownership and operating procedures of the LLC.
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Look at the demand and supply schedules for wombles in the table below. Use a
graphing tool and insert your graph on page 3. You can use tools in word, Excel, of
web bases ones like ChartGo. You can draw on paper and yan.
Demand and Supply Schedule
A demand schedule is used in conjunction with a supply schedule, which shows the quantity of goods that can be supplied to the market by producers at a price.
What is a demand schedule?Your information is incomplete. Therefore, an overview will be given. A demand schedule is simply a table that shows the quantity demanded of a good at different price levels.
A supply schedule is a table which shows the relationship between the price of a good and the quantity supplied.
A demand schedule consists of two columns. Here, the first column lists a price for a product and the second column lists the quantity of the product demanded at that price. Also, the price is determined based on the research of the market.
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List any THREEshopping skill that you will follow.
MATCH EACH TERM WITH EACH DEFINITION
Credit report
Grace period
Secured card
Annual percentage rate
1. The amount of interest paid on a unpaid balance
2. Number of days to run a balance before fees or interest are charged
3.A credit card with money in a savings account to act as collateral
4. A listing of a persons financial information and history
Answer:
grace period = 2
credit report= 4
secured card = 3
annual percentage rate = 1
Answer:
annual percentage ; the amount of interest charged on unpaid balances
grace paid ; number of days to run a balance before fees or interest are charged.
balance transfer ; the movement of money owed on one credit card to another credit card.
credit report ; listing of a person's financial information and history.
Explanation:
ap3x correct
Which of these would be considered the most expensive form of advertisement? A. Newspaper ad B. Radio ad c. Television ad D. Web banner
Television or radio ad
Answer:
Television advertisement
Explanation:
News Paper advertisement is probably the cheapest, Web banner coming at second cheapest probably around $60-130. Radio Advertising coming at 2nd most expensive, and Television at first.
11. True or false. A crime is an offense against the public at large.
a. TRUE
b. FALSE
Answer:
I mean I'm pretty sure that's true considering crime is against the law.
It is true that a crime is an offense against the general public. Thus option (A) is correct.
What is the offense?You know, playing offense refers to taking proactive measures, approaching rather than avoiding situations, getting a head start on the day, and tackling the difficult task first. By taking the offensive, you are shaping your life rather than letting it happen to you. Compared to playing defense, it is considerably more intriguing and gratifying.
The offensive conduct is the primary focus of a public order felony charge. While public order offenses generally follow a similar pattern across all states, certain local governments may have extra or different laws.
Such actions are viewed as crimes not because an obvious offender and victim can be identified, but rather because the larger community, or at least a vocal and influential portion of it, feels offended and hence victimized by such actions. Public order offenses have different legal standing in different jurisdictions.
Therefore, Thus option (A) is correct.
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Jeffrey is having a busy day
Answer:
Tell Jeffery to take a nap
Explanation:
On the performance evaluation, "far more than promotion-ready in this trait right now" best describes what promotion recommendation?
"Much more than promotion-ready in this trait right now," according to the performance review Promotion recommendation is best rated at 4.0.
The required details for "performance evaluation" in given paragraph
The term "performance evaluation" refers to a structured and effective process for gauging an employee's performance in relation to their duties at work. It is used to evaluate an employee's value addition in terms of improved revenue for the company in comparison to industry norms and overall employee return on investment (ROI). An organization's or person's job performance is measured through performance review in order to assess how effectively they carry out their duties.
In this section, we will learn about a few significant extra uses of performance evaluation: Periodic performance evaluations serve as a manager's report card, recognizing the job an employee has completed over a certain period of time.
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Why do we say that credit is basically a loan?
What is a file manager? Give an example the file manager is a user medium platform interface
Answer:
The Android File Manager app helps users manage and transfer files between the smartphone's storage and a computer. ... The Android operating system allows you to remove apps quickly if you no longer use them or to make room for additional files without having to connect the phone to your computer.
Explanation:
Calcular el valor futuro de $2,500 que se ahorran al final de cada mes por un periodo de 4 años con una tasa de interés del 9% anual:
Answer:
VF= $143.801,78
Explanation:
Dada la siguiente información:
Deposito mensual (A)= $2.500
Cantidad de periodos (n)= 4*12= 48 meses
Interes mensual (i)= 0,09/12= 0,0075
Para calcular el valor futuro (VF), debemos usar la siguiente formula:
VF= {A*[(1+i)^n-1]}/i
VF= {2.500*[(1,0075^48) - 1]} / 0,0075
VF= $143.801,78
Based on expected production of 6,000 units, a company reports the following costs: direct materials cost of $4 per unit, direct labor cost of $8 per unit, variable overhead cost of $3 per unit, fixed overhead of $60,000 per year, variable selling and administrative expenses of $2 per unit, and fixed selling and administrative expenses of $20,000 per year. There is no beginning inventory. If 4,000 units are sold at $40 per unit, what is net income under absorption costing
Answer:
Net operating income= $32,000
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
First, we need to calculate the unitary fixed overhead and unitary total cost:
Unitary fixed overhead= 60,000 / 6,000= $10
Unit product cost= direct material + direct labor + total unitary overhead
Unit product cost= 4 + 8 + 3 + 10
Unit product cost= $25
Now, the net operating income:
Net operating income= Sales - COGS - Total variable selling and administrative expenses
Net operating income= 4,000*40 - 25*4,000 - (2*4,000 + 20,000)
Net operating income= 160,000 - 100,000 - 28,000
Net operating income= $32,000
Banks are a stabilizing force in our entire financial system. Discuss two of the three primary function of the banking system.
Answer: Banks transfer money from savers to borrowers by holding deposits and lending excess reserves. Banks also create money by making loans of excess reserves.
Explanation: Those are two primary functions.
The banks function in three ways as transfer money from savers hold deposits, and make money by giving loans.
What is a banking system?A banking system is one that is a group or a network of institutions that provides financial services to people. The banking system includes the provision of loans, deposits, and helping investments.
The bank transfers the money from the savers to borrowers by holding the deposits and lending the excessive transfer of reserves.
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Demarco and Tanya have received information about three separate mortgage offers. In two or three paragraphs, describe your recommendation for the best financial choice in their situation.
Answer: first one
As for Mortgage Option 3, not only is the interest rate higher (4.0%), but the remaining balance that is not paid has to be paid off completely in 8 years. After the down payment, they would have a $1,605 monthly payment which includes the fixed interest rate of 4.25% as well. Due to the short payment time, a borrower has a risk of loosing their home and equity if the final payment is not able to be made. Mortgage Option 2 has the lowest interest rate (3.5%) but these rates could be adjusted annually. Even though the interest rate is the highest, they would be able to afford it. Not only are they able to make these payments, Tanya and Demarco would also have. approximately $3,395 left to spend from their monthly earnings too.
Explanation:
credit to mohammedalm2
i neeeeeeeed help 10 points
Answer:
Uh I dont get iut
Explanation:
Explain the importance of leisure activities.
Answer:
leisure activities improve the productivity of people
Explanation:
if you feel stressed and then go to a water park, you will get less stressed right?
frances mcclurg favors the roth ira over the traditional ira. what advantage does the roth provide over the traditional ira?
Frances McClurg favors the Roth IRA over the Traditional IRA. Frances has an advantage of the Roth IRA over the Traditional IRA as she can avoid income tax during withdrawal.
The Individual Retirement Account (IRA) is useful for self-employed people with no company retirement plan. They can save for their retirement as well as taxes. IRA has two types that are Roth IRA and Traditional IRA. Traditional IRAs are Federal and state tax-deductible which makes the distributions or withdrawals taxable during the time of retirement. It restricts and controls access to funds at the time of retirement.
Roth IRAs have conditions for eligibility in income as it is tax-free when people contribute to it. During the time of retirement, the withdrawal or distribution to the people availing Roth IRA is tax-free. Therefore, Frances has the benefit of tax-free withdrawal during retirement.
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3.) What are some key things to look for when setting up an IRA?
Here is your Answer:-
You have the freedom to choose the type of IRA that is appropriate for you and to choose your own provider when you set it up on your own. You can add the “auto funding” feature to your IRA after you’ve set up the account. Step 1:- Choose the IRA That’s Best for You. Traditional and Roth IRAs are the most popular of the many forms of IRAs.
Please help I'm about to fail my class and i will be grounded for life, 100 pts for it! its financial literacy
Part One–Research
Imagine you bought 100 shares of stock three years ago and are selling it today. Select a company and research its stock prices. You can start with websites like Nasdaq and Fidelity. Determine the stock's price three years ago, or the purchase price, and its price today, or the selling price.
Part Two–Determine the Real Return
Calculate the real return of your stock investment using the following information:
Purchase price of 100 shares of stock
Selling price of 100 shares of stock
10% tax rate
3% inflation rate
2% administrative fee on the selling price of the stock
Part Three–Evaluate
Analyze your research and calculations, and answer the following questions:
What company did you select to buy stock in? Why did you select the company?
Consider the real return of the stock investment. Do you consider it a wise investment? Why or why not?
1. I imagine buying 100 shares of Amazon.com Inc. on January 3, 2020, when the stock price was $93.75, investing $9,375.
Today, October 31, 2022, the stock price of Amazon.com Inc. is $102.44.
2. The real return on my investment in Amazon.com Inc was a net loss of 7.12% or $667.60.
3. The company I selected to buy its stock three years ago was Amazon.com Inc.
4. I decided on Amazon.com Inc., hoping to earn spectacular returns since it is a multinational technology company.
5. When I consider the actual return on the stock investment in Amazon.com Inc., I think it was an unwise investment.
6. The investment returned a negative real value because I realized less than I initially invested; I actually lost about $667.60 overall.
What is the stock investment?Stock investment is the purchase of shares for an ownership interest in a publicly-listed company.
The investor makes the investment with the hope that the investee will grow and perform well over some period, enabling the investor to earn some real returns (in the form of dividends and capital appreciation).
Purchase of 100 shares Jan. 3, 2020 = $9,375 (100 x $93.75)
Sales of 100 shares Oct. 31, 2022 = $10,244 (100 x $102.44)
Tax (10%) = $1,024.40 ($10,244 x 10%)
Inflation (3%) = $307.32 ($10,244 x 3%)
Administration fee on sales (2%) = $204.88 ($10,244 x 2%)
Real Returns in dollars = $8,707.40 ($10,244 - $1,024.40 - $307.32 - $204.88)
Loss on returns = $667.60 ($8,707.40 - $9,375)
Loss percentage = 7.12% ($667.60/$9,375 x 100)
Unfortunately, Amazon.com Inc. did not pay any dividends during the period of my investment, and I really lost funds to taxes, inflation, and administration fees when I sold it.
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Which describes the purpose of non-sufficient funds fees? A: penalize customers for writing checks for money they don't have
B:make sure customers keep sufficient funds in their account
C: pay for the costs of having bank employees
D: collect funds for withdrawals from a competitor’s machine
Answer:
A: penalize customers for writing checks for money they do not have
Explanation:
A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.
In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.
Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent non-sufficient funds (NSF) checks.
A non-sufficient funds (NSF) checks refers to a check that is not honored by the bank of the issuer due to the fact that the individual or business entity has an insufficient fund. It is also known as a bounced or bad check.
Hence, the purpose of non-sufficient funds fees is to customers for writing checks for money they do not have. In the United States of America, the fee charged for non-sufficient funds (NSF) checks is between $27 to $35.
for business and personal finance: What is insurance?
Answer:
Insurance is the procedure by which persons or companies exposed to a specific risk agree with an institution specializing in compensation for damage that the institution will indemnify the damage caused when the risk materializes. The resulting contract is called insurance.
From a commercial point of view, insurance can be defined as the means by which the cost of incidental damage can be converted evenly into a continuous annual cost on an annual basis.