FREE Trial S
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Agovernmentalentityhasformallyintegratedabudgetintoitsaccountingrecords.Attheendofitsfiscalthirdquarter,aledgeraccountExpendituressalarieshasadebitbalanceof$100,000.Whichofthesestatementsabouttheentityistrue? a.Ithas$100,000availabletospendonsalaries b.Itincurredsalariesintheamountof$100,000 c.Ithadpaidsalariesintheamountof$100,000 d.Ithasoverspentitsbudgetforsalariesby$100,000

Agovernmentalentityhasformallyintegratedabudgetintoitsaccountingrecords.Attheendofitsfiscalthirdquarter,aledgeraccountExpendituressalarieshasadebitbalanceof$100,000.Whichofthesestatementsabouttheentityistrue?

  1. a.Ithas$100,000availabletospendonsalaries
  2. b.Itincurredsalariesintheamountof$100,000
  3. c.Ithadpaidsalariesintheamountof$100,000
  4. d.Ithasoverspentitsbudgetforsalariesby$100,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-13
College Accounting Chapters 1-13

Authors: John Price, M David Haddock, Michael Farina

13th Edition

ISBN: 007743062X, 9780077430627

More Books

Students explore these related Accounting questions

Question

While he was a freshman at Auburn University, Jason Jones became a pledge at the Kappa Alpha (KA) fraternity. Over the next year, KA brothers hazed Jones in various ways, including (1) making him...

Answered: 3 weeks ago

Question

2.57 Time spent using electronic devices A student conducted a survey about the amount of free time spent using electronic devices in a week. Of 350 collected responses, the mode was 9, the median...

Answered: 3 weeks ago

Question

What is (a) plotted on the ????-axis in a residual plot? (b) a residual? (c) a standardized residual? (d) an unusually large standardized residual?

Answered: 3 weeks ago

Question

Kiwi Charter Corp. reported $1,612,530 of net income for 2014. On November 2, 2014, it declared and paid the annual preferred dividends of $234,000. On January 1, 2014, Kiwi had 80,000 and 270,000...

Answered: 3 weeks ago

Question

Central Networks had sales of 3,500 units at $75 per unit last year. The marketing manager projects a 30 percent increase in unitvolume sales this year with a 40 percent increase in price. Returned...

Answered: 3 weeks ago

Question

1.Andrew is walking home on a Saturday night with his friends after spending an evening in a night club with them. He has drunk two bottles of wine when he was at the bar and due to that he is now...

Answered: 3 weeks ago

Question

A cube with edge length L = 0.25 m and density Q = 0.88103 kg/m floats in equilibrium in a liquid of density = 15103 kg/m3, with the top of the cube a distance d above the liquid's surface, as shown...

Answered: 3 weeks ago

Question

Hill Corp. had 600,000 shares of common stock outstanding on January 1, issued 900,000 shares on July 1, and had income applicable to common stock of $1,050,000 for the year ending December 31, 2010....

Answered: 3 weeks ago

Question

7.1 A mammography center performs eleven different procedures. The volume of each procedure during an eight-month period and the standard hours per procedure are shown in Table EX 7.1. Table EX 7.1...

Answered: 3 weeks ago

Question

Graff, Incorporated, has sales of $49,800, costs of $23,700,depreciation expense of $2,300, and interest expense of $1,800. Thetax rate is 22 percent. What is the operating cash flow, or OCF?Note:...

Answered: 3 weeks ago

Question

Activity Overview: In this graded activity, students will determine subnet scopes, assess routing metrics and paths, identify aspects of ACL's and Firewalls, and design an IPv4 address space. ...

Answered: 3 weeks ago

Question

1. Identify your reference point when making a decision based on an element of risk.

Answered: 3 weeks ago

Question

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

Answered: 3 weeks ago

Question

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.

Answered: 3 weeks ago

Previous QuestionNext Question