Chapter 6 Lab work
a. Jeremy is a single (head of household) father with a dependent 8-year-old son and
$80,000 of AGI: 1000 for the child
b. Jerry and Ann have two dependent preschool children and $100,000 of AGI: Since the
Week 4 Assignment
A. $39,080/60 months * 8 months = $5,211
B. $39,080 * 10% = $3,908
C. $39,080 x 20% = $7,816
a. Calculate Hollys total depreciation deduction for the apartments for 2015 using MACRS.
1.364% x $800,0
Running Head: Chapter 8 Questions:
Chapter 8 Questions
Running Head: Chapter 8 Questions:
11. Answer the following general questions about indexes:
a. Can an index be built over a non-unique field?
b. Can an index be
In your own words, describe what Accounting is and why it is an important function in
Accounting is basically the recording of financial transactions of a business. It is an important
function in business because it helps keep track of the money
Assume you are going to start a new business. Would you start a business that requires
inventory be maintained? Why or why not?
There are pros and cons to having an inventory based business. Though having a business that
requires inventory can be expensi
Compare and contrast the Internal Service Funds and Enterprise Funds
The primary difference between the Internal Service Funds and the Enterprise Funds is
the customers who primarily benefit from the fund's service. Internal Service Funds
account for ope
Operating activities include the production, sales, and delivery of the company's product as well as
collecting payment from its customers. This could include purchasing raw materials, buildin
List the three sections of the statement of cash flows.
Operating Activities, Investment Activities, and Financing Activities.
Describe how the QuickZoom feature of QuickBooks does or does not provide the same help in the statement
of cash flows as it do
Week 7 Individual Assignment
(a) Journal entries to record these transactions in the Lilly Printing Fund
Transfer in from General Fund - capital contribution
3) Supplies expense
What is a data table? Why would you use one?
A data table is a visual instrument comprised of labeled columns and rows, used to
arrange information contained in a computer's database. It may serve to organize
disparate data, as well as to permit data to
Week 6- Individual Assignment
P6-1 Part a - Journal Entries
1 Estimated Revenues
Estimated - other financing source
Budgetary fund balance
Budgetart fund balance reserved for emcumbrance
Discuss answers to the following questions and justify your response:
Discuss budgetary accounting and how it is used in government
Budgetary accounting is a particular method of accounting most
often used by local, state and federal municipal
E6-9: Compare and contrast the methods used to control expenditures in the
General Fund and in Debt Service Funds, Be sure to explain the reasons for any
The general fund is a government's basic operating fund and accounts for
Discuss what his daughter said about those wonderful GAAP rules that caused the
governor to reach his conclusion? Why is his daughter worried?
With the governors daughter knowledge of how the GAAP rules work she wanted him to think
about the long-tem effe
Describe the characteristics that distinguish not-for-profit organizations form business
What, in your opinion, is the biggest difference between job order and process costing?
Process costing handles the same types of manufacturing costs as job order costing. Both systems deal with
tracking how manufacturing costs such as direct materials,
Overlea School District
Rooms per Room Capacity Capacity
Capacity is 22 stu
Additions-pension cont-plan members
2 Deductions investment management fees
Additions-net appreciation in fair value of investments
4 Deductions-depreciation on fund capital assets
Explain what information an Accounts Receivable Aging report provides. How can it be useful?
An accounts receivable aging is a report that lists unpaid customer invoices and unused credit memos by date ranges.
The aging report is the primary tool used by
If you were investigating an income statement what useful information would you
find? Explain how it would it be useful.
An income statement will show you assets and liabilities, profits or losses but it will ultimately
depend upon your role as to what i
Discuss how you would use at least four features covered in Chapter 1or 2 to create a spreadsheet
to budget your household expenses.
Title Header: to label each spreadsheet
Format Numbers: I would use the formatting cells to change the type of cell form