On July 1, 2018, Fred City ordered $1,500 of office supplies. They were to be paid for out of the general fund when received. Required: What entry was required for the governmental fund financial statements?

One criticism NOT normally aimed at a balance sheet prepared using current accounting and reporting standards is: A. Failure to include items of financial value that cannot be recorded objectively B. Failure to reflect current value information. C.

If unaccompanied on board, what must a person 12 to 15 years of age have in order to legally operate a boat with more than 6 hp motor?

An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week.

You can spend $100 on either a new economics textbook or a new CD player. If you choose to buy the new economics textbook, the opportunity cost is:A) $100. B) your enjoyment of the new CD player.

The global capital market limits the opportunity for businesses and individuals to build a diverse financial portfolio. a. True b. False

On January 1, 20X8, Package Company acquired 80 percent of Stamp Company's common stock for $280,000 cash.

Tombert Decorating uses a job order cost system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred.

Suppose that cookie producers create a positive externality equal to $2 per dozen. What is the relationship between the equilibrium quantity and the socially optimal quantity of cookies to be produced? a. They are equal. b.

Comfort Cloud manufactures seats for airplanes. The company has the capacity to produce 100,000 seats per year, but currently produces and sells 75,000 seats per year.

In 2016, teller company sold 3,000 units at $600 each. variable expenses were $420 per unit, and fixed expenses were $240,000. what was tellers 2016 net income?