When a capital projects fund transfers a premium from the issuance of general obligation bonds to another fund, the transfer should be accounted for as which type of interfund transaction or transfer?
A. As an interfund transfer.
B. As revenue.
C. As a reimbursement.
D. As a loan.
Answer: A
You might also like to view...
Ester Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:InputsStandard Quantityor HoursStandard Price or RateStandard CostDirect materials1.9gallons$6.50per gallon$12.35Direct labor0.80hours$18.00per hour 14.40Fixed manufacturing overhead0.80hours$7.00per hour 5.60Total standard cost per unit $ 32.35The standard fixed manufacturing overhead rate was based on budgeted fixed manufacturing overhead of $168,000 and budgeted activity of 24,000 hours.During the year, the company applied fixed overhead to the
22,600 units in work in process inventory using the predetermined overhead rate multiplied by the number of direct labor-hours allowed. Actual fixed overhead costs for the year were $149,800. Of this total, $83,800 related to items such as insurance, utilities, and indirect labor salaries that were all paid in cash and $66,000 related to depreciation of manufacturing equipment.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)=Materials Price VarianceMaterials Quantity Variance1/1$1,010,000$54,340$0$74,405$466,600=$0$0?Labor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$1,605,345When applying fixed manufacturing overhead to production, the Work in Process inventory account will increase (decrease) by: A. $83,800 B. ($126,560) C. $126,560 D. ($83,800)
Product development usually costs the least among all the steps of the new product development process
Indicate whether the statement is true or false
PDF files are the most common format for distributing reports electronically because _____
A) readers have limited access to the report without downloading it B) the reports are more interactive C) reports can be updated frequently D) the reports can include links to multimedia content E) companies can track people interested in the information
When considering a balanced scorecard that depicts a company from a(n) ________ perspective, the critical HR indicators are employee satisfaction with HR department services and employee perceptions of the company as an employer.
A. customer B. innovation C. internal D. learning E. financial