The following transactions took place during the fiscal year ended August 31, 2012:
At the beginning of the year, a cash donation of $900,000 was received to establish Endowment X, and another donation of $600,000, also in cash, was received for the purpose of establishing Endowment Y. The income from these endowments is restricted for specific purposes. It was decided to invest this money immediately; to pool the investments of both endowments; and to share earnings, including any gains or losses on sales of investments, at the end of the year based on the ratio of the original contributions of each endowment.
Securities with a par value of $1,000,000 were purchased at a premium of $10,000.
Securities with a par value of $191,500 were acquired at a discount of $2,000; accrued interest at date of purchase amounted to $500.
The university trustees voted to pool the investments of a new endowment, Endowment Z, with the investments of Endowments X and Y under the same conditions as applied to the latter two endowments. The investments of Endowment Z at the date it joined the pool at midyear amounted to $290,000 at book value and $300,000 at market value. (Hereafter, the investment pool earnings are to be shared 9:6:3.)
Cash dividends received from the pooled investments during the year amounted to $70,000, and interest receipts were $5,500.
Premiums of $500 and discounts of $100 were amortized.
Securities carried at $30,000 were sold at a gain of $2,400.
Each endowment was credited with its share of the investment earnings for the year (see transactions 1 and 4).
A provision of Endowment Y is that a minimum of $75,000 each year, whether from earnings or principal or both, is to be made available for unrestricted uses.
An apartment complex comprising land, buildings, and equipment valued at $800,000 was donated to the university, distributed as follows: land, $80,000; buildings, $500,000; equipment, $220,000. The donor stipulated that an endowment (designated as Endowment N) should be established and that the income there from should be used for a restricted operating purpose.
Unrestricted resources of $150,000 were set aside by the board as a quasi-endowment (or fund functioning as an endowment) and was designated Endowment O.
A trust fund in the amount of $350,000 (cash) was set up by a donor with the stipulation that the income was to go to the university to be used for general purposes. This fund was designated Endowment P.
Prepare the necessary journal entries for Sagan University for the 2011
1. The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.50 each. Complete the following table by indicating whether each of the statements is an example of a price celling or a price floor and whether it is binding or nonbinding. Statement Price Control Binding or Not Due to new regulations, donut shops that would like to pay better wages in order to hire more workers are prohibited from doing so. The government prohibits donut shops from selling donuts for more than $1.80 each. The government has instituted a legal minimum price of $1.80 each for donuts.D Question 14 1 p Consider a natural monopoly with a large fixed cost and a small and constant marginal cost per unit produced that does not receive any subsidies. Which of the following statements is true? 1. The government should intervene to make sure that there are at least two firms operating in the market which will reduce the prices and costs of the product. II. Government regulation involving marginal cost pricing eliminates the deadweight loss and the monopoly remains profitable. Ill. Government regulation involving average cost pricing always maximizes total surplus. None of the other answers is correct only II is true O only I is true O only Ill is true only II and Ill are true D Question 15 1 pts1 of B (0 complete) OB (book/static) HW Score: g 2016, Gibson Network, Inc, which designs network servers, earned revenues of $720 million. Expenses totaled $520 milion. Gibson collected all but $20 milion of the revenues and paid $570 million on its exporises. fremonts n's top managers are evaluating 2016, and they ask you the following questions: Under accrual accounting, what amount of revenue should Gibson Network report for 20167 How does the revenue principle help to answer these questions? Under accrual accounting. what amount of total expense should Gibson Network report for 20167 Which accounting principle helps to answer this question? Redo parts a and b using the cash basis. Explain how the accrual basis differs from the cash basis. Which financial statement reports revenues and expenses? Which statement reports cash receipts and cash payments? irement a. Under accrual accounting, what amount of revenue should Gibson Network report for 20167 How does the revenue principle help to answer thime questions? amount of revenue that should be roporind for the your is $ million. revenue principle says to record revenue when it has boon . regardless of when Therelore, the amount of revenue reported is what Gibson ter any number in the edit fields and then click Check Answer. Clear All remaining MacBook Air 805. Consider the system 11 12 Co 13 (a) Create a Jacobi iterative formula that is guaranteed to converge for solving the above system of equations. (Hint: you need to rearrange the equations) (b) Compute 10 Jacobi iterations (use your calculator) starting with x(0) = 0. (c) Create a Gauss-Seidel iterative formula that is guaranteed to converge for solving the above system of equations. (d) Compute 10 Gauss-Seidel iterations (use your calculator) starting with x(0) = 0. (e) Compute the exact solution (any way you like). (f) Between the Jacobi and the Gauss-Seidel iterative methods, which one is faster? 6. Solve the linear system 2x1 - 22 + 23 = 2x1 + 2x2 + 213 = -X1 - 22 + 213 = iteratively. (a) Use the Jacobi method with x ) = 0 to compute the next 10 Jacobi iterations (use your calculator). (b) Compute the exact solution (any way you like) and use it to find the co-norm of the error in 5th Jacobi iterate. 32QUESTION 1 Anthony Scaramucci, the Owner of White House Pressers adheres to the "principle of rights" theory. Under this theory, a key factor in determining whether a business decision is ethical is how that decision O a. compares to religious principles. O b. affects the rights of others. O c. causes consequences that would follow if everyone in society acted the same way. O d. supports the right to make a profit. QUESTION 2 Congress creates a new law, the Environmental Protection Agency (an administrative agency) issues rules, the amalgamated bankers association (a private organization) issues instructions, Bank of America posts a memo with orders for its employees, and Mila Kunis shares current events with her colleagues. Sources of law include O a. the stories released by news agencies. b. the orders posted by employers. O c. the instructions issued by private associations. O d. the rules issued by federal administrative agencies. QUESTION 3 Gregory Lee Johnson sets fire to an American flag in the back of his home, on his back porch. He filmed himself while doing so and uploaded the video to You Tube. Gregory's actions are O a, subject to reasonable restrictions under the due process clause. Ob protected by the First Amendment. O c. given strict scrutiny under the equal protection clause. O d. expressly prohibited by the Constitution. Click Save and Submit to save and submit. 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