During the year, the City of Kent finds that, because of an economic contraction, its sales tax revenues are likely to be $100,000 less than anticipated and that police department expenditures are likely to exceed authorized appropriations by $100,000. The City of Kent needs to:
A. Debit appropriations--police department for $100,000
B. Prepare a budgetary interchange
C. Do nothing
D. Revise the budget, so as to reduce budgetary fund balance by $200,000
Ans: D. Revise the budget, so as to reduce budgetary fund balance by $200,000
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The Antarctica Co acquired a machine on January 1, 2016, at a cost of $60,000. The machine is expected to have a ten-year life and a residual value of $5,000. The estimated lifetime output from the machine is expected to be 55,000 units. Under which of the following depreciation methods would the depreciation charge be the greatest in 2016 if 9,100 units were produced during the year?
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A. Targeted. B. Correspondence. C. Office. D. Field. E. None of the choices are correct.
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Answer the following statement true (T) or false (F)