Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help me answer all the questions in the picture, preferably with explanations QUESTION 50 The following four (4) questions use the information provided below.
Please help me answer all the questions in the picture, preferably with explanations
QUESTION 50 The following four (4) questions use the information provided below. A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30. What amount of interest expenditures will the debt service fund report for the year ended December 31, 2018? $180,000 $90,000 $30,000. $0. QUESTION 51 A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30. What amount of interest expense will be repported at the governmental activities level for the year ended December 31, 2018? $0. $90,000. $180,000. $30,000 QUESTION 52 A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30. What amount of interest expense will be repported at the governmental activities level for the year ended December 31, 2019? $0. $180,000. $30,000 $210,000. QUESTION 53 A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30 What amount of interest expenditures will the debt service fund report for the year ended December 31, 2019? $90,000. $30,000. $0. $180,000 QUESTION 59 Using the information provided below please answer the two (2) questions that follow. You are provided the following information about the long-term debt of Mountain City Description General obligation road construction Special assessment sidewalk construction General obligation park development Water Utility Fund revenue bond Industrial development revenue bond Outstanding $10.000.000 ISO 13 2.000.000 1$ 5,000,000 $ 6,000,000 The legal debt limit is 10 percent of total assessed valuation Total assessed valuation of property within Mountain City is $600,000,000 The legal debt limit for Mountain City is: $230,000,000 $600,000,000 $23,000,000 QUESTION 60 You are provided the following information about the long-term debt of Mountain City. Description General obligation road construction Special assessment sidewalk construction General obligation park development Water Utility Fund revenue bond Industrial development revenue bond Outstanding $ 10,000,000 $0 $ 2,000,000 $5,000,000 $ 6,000,000 The legal debt limit is 10 percent of total assessed valuation. Total assessed valuation of property within Mountain City is $600,000,000 The legal debt margin for Mountain City is: $50,000,000 $37,000,000 $48,000,000 $54,000,000 QUESTION 50 The following four (4) questions use the information provided below. A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30. What amount of interest expenditures will the debt service fund report for the year ended December 31, 2018? $180,000 $90,000 $30,000. $0. QUESTION 51 A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30. What amount of interest expense will be repported at the governmental activities level for the year ended December 31, 2018? $0. $90,000. $180,000. $30,000 QUESTION 52 A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30. What amount of interest expense will be repported at the governmental activities level for the year ended December 31, 2019? $0. $180,000. $30,000 $210,000. QUESTION 53 A government has $3,000,000 of 6%, 10-year general obligation bonds outstanding. The bonds were issued on November 1, 2018 to finance construction of a general capital asset. Interest is payable semiannually on October 31 and April 30 What amount of interest expenditures will the debt service fund report for the year ended December 31, 2019? $90,000. $30,000. $0. $180,000 QUESTION 59 Using the information provided below please answer the two (2) questions that follow. You are provided the following information about the long-term debt of Mountain City Description General obligation road construction Special assessment sidewalk construction General obligation park development Water Utility Fund revenue bond Industrial development revenue bond Outstanding $10.000.000 ISO 13 2.000.000 1$ 5,000,000 $ 6,000,000 The legal debt limit is 10 percent of total assessed valuation Total assessed valuation of property within Mountain City is $600,000,000 The legal debt limit for Mountain City is: $230,000,000 $600,000,000 $23,000,000 QUESTION 60 You are provided the following information about the long-term debt of Mountain City. Description General obligation road construction Special assessment sidewalk construction General obligation park development Water Utility Fund revenue bond Industrial development revenue bond Outstanding $ 10,000,000 $0 $ 2,000,000 $5,000,000 $ 6,000,000 The legal debt limit is 10 percent of total assessed valuation. Total assessed valuation of property within Mountain City is $600,000,000 The legal debt margin for Mountain City is: $50,000,000 $37,000,000 $48,000,000 $54,000,000Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started