What is an encumbrance? When is an encumbrance recorded? What happens to this balance? How are encumbrances
Question:
What is an encumbrance? When is an encumbrance recorded? What happens to this balance? How are encumbrances reported in government-wide financial statements?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (11 reviews)
An encumbrance is the recording of a purchase commitment such as a c...View the full answer
Answered By
Moses mwangi
With prior writing experience, be sure that I will give a great grade, If not an A+, it will be something close to this. My reviews speaks it all, Try me!!
4.80+
78+ Reviews
157+ Question Solved
Related Book For
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Question Posted:
Students also viewed these Business questions
-
When is an encumbrance recorded? What happens to this balance? How are encumbrances reported in government-wide financial statements?
-
How are interfund activities and balances reported in government- wide financial statements?
-
What are the two major divisions reported in government-wide financial statements? What funds are not reported in these financial statements?
-
A U.S Company David Inc. sold merchandise to Fernando SA for 10,000 on September 14, 2017. The spot rate for euro is $0.720 on this day. On October 12, 2018, David Inc. purchased merchandise from...
-
Is there any correlation between the anions that form when each of the strong acids in Table 4.2 dissociates and the anions that normally form soluble ionic compounds (Table 4.1)? Which anions if any...
-
For each of the following situations, calculate the degrees of freedom (df), identify the critical values (assume = .05 [two-tailed]), calculate the standard error of the mean (s X ), calculate the...
-
Ashley wants to study for 10 hours over the weekend. She plans to spend half the time studying math, a quarter of the time studying history, an eighth of the time studying writing, and the remaining...
-
Zeller Company uses standard costing. The company has two manufacturing plants, one in Nevada and the other in Ohio. For the Nevada plant, Zeller has budgeted annual output of 4,000,000 units....
-
3) 1. A project that will provide annual cash flows of $2,350 for nine years costs $9,700 today. A) At a required return of 12%, what is the NPV of the project? B) At a required return of 28%...
-
A power company located in southern Alabama wants to predict the peak power load (i.e., the maximum amount of power that must be generated each day to meet demand) as a function of the daily high...
-
Why are budgetary entries recorded in several of the individual funds of a state or local government?
-
At what point does a governmental fund report an expenditure?
-
An article in Science stated that the number of insect species of a given mass is proportional to m-0.6, where m is the mass in grams. A graph accompanying the article shows the common logarithm of...
-
Determine whether the following statements are true or false and explain why: a. The accounting process is only interested in communicating economic activity. b. There are few potential users of...
-
Why is the need for competent and trustworthy personnel even more important when an organization uses computers for its data processing?
-
With the increasing use of computers for data processing, is the audit trail disappearing? Explain.
-
Briefly explain how assets could be lost by a person having unauthorized access to a payroll program.
-
How do independent checks on employee performance differ between a manual system and a computer system?
-
What is collaborative filtering (CF)?
-
Find the equation of the plane passing through the points P 5,4,3 ,Q 4,3,1 and R 1,5,4
-
How does a parent adjust its investment income for unrealized profit on sales it makes to its subsidiaries? (a) In the year of the sale and (b) In the year in which the subsidiaries sell the related...
-
How does a parent adjust its investment income for unrealized profit on sales it makes to its subsidiaries? (a) In the year of the sale and (b) In the year in which the subsidiaries sell the related...
-
How is the combined cost of goods sold affected by unrealized profit in (a) The beginning inventory of the subsidiary and (b) The ending inventory of the subsidiary?
-
Accounting harmonisation involves: Select one: a. Increased lobbying on proposed accounting standards b. Convergence of practices c. Adoption of one set of standards across the globe without any...
-
All of these are characteristics of a leveraged buyout except- A. Issue AAA rated equity securities B. borrow money (use debt) C. Use target company's assets and cash flow as collateral D. Take the...
-
Chapter 10 Homework Match the following terms with their definitions (not every letter is used) 1. 2. 3. 4. 5. Outstanding stock Paid-in Capital Authorized stock Treasury stock Issued stock a. The...
Study smarter with the SolutionInn App