This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A Debt Service Fund accumulates resources to retire debt that is due in a lump sum in the year 2014 ... (Read 51 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
on: Jul 5, 2018
A Debt Service Fund accumulates resources to retire debt that is due in a lump sum in the year 2014 . The Fund held marketable securities that cost 900,000 when purchased during 2006 and 2007 .
 
  The securities had fair market values of 875,000 on January 1, 2013, and 930,000 on December 31, 2013 . The average fair market value during the year was 895,000 . At what amount should the Fund report the securities in its balance sheet on December 31, 2013?
   a. 875,000
   b. 895,000
   c. 900,000
   d. 930,000

Question 2

Which of the accounts below would not appear in the balance sheet columns of the end-of-period spreadsheet?
 a. Terry James, Drawing
  b. Service Revenue
  c. Unearned Revenue
  d. Terry James, Drawing and Unearned Revenue


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

epscape

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

b


arivle123

  • Member
  • Posts: 569
Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

elyse44

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth
A 100-Year Flood Map of Montpelier, Vermont A 100-Year Flood Map of Montpelier, Vermont
Processing—Mineral Resources Processing—Mineral Resources
Bank teller assisting with customer service. Bank teller assisting with customer service.
Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days ... Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days ...
Video: Neural regulation of blood pressure - baroreceptor and chemoreceptor reflexes

For a complete list of videos, visit our video library