« previous next »

Author Question: A town's garbage trucks accidentally sideswiped two parked automobiles in the year ended December ... (Read 87 times)

burchfield96

  • Hero Member
  • *****
  • Posts: 610
on: Jul 5, 2018
A town's garbage trucks accidentally sideswiped two parked automobiles in the year ended December 31, 2013 . One case was settled for 3,000, and the town expects to pay it in January 2014 .
 
  In the other case, the claimant originally demanded 15,000 . The town attorney thinks they can settle the claim for 10,000, but it probably will take two years to settle the case. What amount should the town report as a claims liability on the General Fund's December 31, 2013 balance sheet?
   a. 0
   b. 3,000
   c. 13,000
   d. 18,000

Question 2

Which transaction of a federal agency does not require both budgetary and proprietary entries?
 
  A. Receipt of budgetary authority from the Congress, i.e., receipt of appropriation.
  B. Payment of liabilities.
  C. Accrued salaries and benefits.
  D. Receipt of fixed assets or material ordered.


sarah_brady415

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Small Town USA: Struggling to Survive Small Town USA: Struggling to Survive
Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ... Distribution of Thunderstorms: Approximately 14.5 million thunderstorms occur each year across the ...
Chinese new year 2023 Chinese new year 2023
December 6, 2023 December 6, 2023
Video: Role of ATP in muscle movement

For a complete list of videos, visit our video library