How to securities held by an investment
Securities held by an Investment Trust Fund and carried on the books at $100,000 are sold for $110,000. On receiving the cash from the sale, how should the Investment Trust Fund account for the $10,000 gain?
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Wads County maintains an investment pool in which it invests funds both for Wads County and for all legally separate school districts in the county. When it reports assets in the Investment Trust Fund's statement of fiduciary net assets, whose ass
Historically, cost of goods sold is about 60 percent of sales revenue. Selling and administrative expenses are about 10 percent of sales revenue.
Keep-it-Hot Inc. manufactures popular thermoses. On June 30, the company had 1,000 thermoses in inventory. Each thermos sells for $8.00.
In the statment of fiduciary net assets prepared for an Investment Trust Fund, how should the equity of the participants in the investment pool be characterized?
The existing transfer price has been set at $40 per pump through a process of negotiation between the two divisions, with the involvement of senior management.
Poole Corporation has collected the following information after its first year of sales. Net sales were $1,706,800 on 100,400 units; selling expenses $237,000 (40% variable and 60% fixed).
The beneficiaries of Private Purpose Trust Funds are "outside" the government; the beneficiaries of Permanent Funds are the reporting government or its citizenry.
Naftel Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget.
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