1,80,00,000. Building Fund 24,00,000, Prize Fund 12,00,000, Reserve Fund (b) Balances as at 1.4.2020: Capital Fund 4,00,000.During the year Expenditure on Building 4,00,000, Prizes awarded 2,00,000, Interest Received on Investments 4,00,000.Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet.
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- First United Bank Inc. is evaluating three capital investment projects using the net present value method. Relevant data related to the projects are summarized as follows: BranchOfficeExpansion ComputerSystemUpgrade ATMKioskExpansion Amount to be invested $686,053 $516,654 $295,458 Annual net cash flows: Year 1 411,000 288,000 177,000 Year 2 382,000 259,000 122,000 Year 3 349,000 230,000 89,000 Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.247 0.162 Required: 1. Assuming that the desired rate of return is 20%, prepare a net present value analysis for each project. Use the…7. Consider the following table for the cash flows of an investment account: Time mm/dd/yy 01/01/2015 04/01/2015 08/01/2015 12/31/2015 Contribution -300 +2,000 (a) Calculate the TWRR and the DWRR of the fund. (b) Comment on the results. Fund value before contribution 1,000 500 250 2,8004. The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits $32,000 47,000 712,000 89,000 479,000 45,000 17,000 40,000 18,000 $1,479,000 Credits $ 96,000 28,000 45,000 12,000 550,000 4,000 119,000 625,000 $1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the…
- The preclosing, year-end trial balance for a capital projects fund of the city of Rochester as of December 31, 2019, follows: Debit CreditCash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .110,000Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .250,000Contracts Payable—Retained Percentage. . . . . . . . . . . 110,000Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41,600Other Financing Sources . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .586,600Other Financing Uses . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5,000Encumbrances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…The preclosing, year-end trial balance for a capital projects fund of the city of Clark as of December 31, 2019, follows: Debit CreditCash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .75,000Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2,00,000Contracts Payable—Retained Percentage. . . . . . . . . . . 60,000Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,600Other Financing Sources . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 686,600Other Financing Uses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000Encumbrances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…Example (1): You have the following data: Details 12/31/2020 1/1/2020 60000 80000 40000 150000 15000 50000 10000 20000 Fund Assets Debtors Goods Liabilities Creditors and you have available additional information: 1. Additions to the capital amounted to 100,000 dinars . 2. Withdrawals from the capital amounted to 40,000 dinars. Required: Extracting the result of the activity works on 31/12/2020.
- ABC Co. has some assets of $50,000 and total assets of $150,000. ABC has some liabilities of $30,000 and total liabilities of $80,000. What is the amount of capital fund?Select one:a. $30,000b. $20,000c. $120,000d. $70,000The following information pertains to interest received by Beech Public University from endowment fund investments for the year ended June 30, 2018: Received Expended forCurrent Operations Unrestricted . . . . . . . . . Restricted . . . . . . . . $300,000 500,000 $100,000 75,000 What amount should be credited to Endowment Income for the year ended June 30, 2018?a. $800,000b. $375,000c. $175,000d. $100,000Prepare the journal entries for the following transactions to consolidate financial statements from fund-level statements to government-wide statements. 1....Beginning accumulated depreciation was $500. 2....Depreciation during the year was $169 3....Beginning compensated absences was 500.
- 49) A Capital Projects Fund awards the construction of a building to a construction contractor at a contract cost of $1,000,000. What entry is prepared by the Capital Projects Fund? A) Debit Expenditures $1,000,000, Credit Liability $1,000,000 B) Debit Building $1,000,000, Credit Expenditures $1,000,000 C) Debit Other Financing Uses $1,000,000, Credit Expenditures $1,000,000 D) Debit Encumbrances $1,000,000, Credit Reserve for Encumbrances $1,000,000 50) Which statement below is incorrect with respect to the Government-wide financial statements? A) All governmental fund categories must convert to the modified accrual basis of accounting. B) It is necessary to eliminate interfund balances within the governmental funds. C) Capital lease liabilities associated with governmental funds must be included on the Government-wide financial statements. D) All fixed assets and long-term debt for governmental funds must be included on the Government-wide financial statements.Calculate operating margin Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30, 2019: Assets: City of Tallahassee General Fund Balance Sheet (in thousands) Cash and cash equivalents Due from other governments All other assets Total assets Liabilities: Total current liabilities Fund balance: Nonspendable Committed Assigned $2,480 0 11,848 $14,328 $11,287 1,500 0 0Given the following items and amounts, compute the actual return on plan assets: fair value of plan assets at the beginning of the period $9,200,000; benefits paid during the period $1,400,000; contributions made during the period $1,000,000; and fair value of the plan assets at the end of the period $10,150,000. O a. $ 1,250,000 O b. $ 1,350,000 $ 1,400,000 O d. $ 1,450,000