Prepare entries in general journal form to record the following transactions in the roadway fund general ledger accounts for city of kettering for the fiscal year 2018. use modified accrual accounting. at the beginning of the fiscal year, the fund $1,360,000 offset by assigned fund balance in the same amount. the city was awarded $4,200,000 for road inspections and repairs during the year. the award requires reimbursement for expenditures not an allotment up front. work contracted for the year amounted to $4,175,000. invoices received for the work performed totaled $4,150,000. $3,980,000 of that amount was paid in cash as of year-end. the state reimbursed the city $4,000,000 for the completed work before year-end. prepare a statement of revenues, expenditures, and changes in fund balance for the roadway fund.

Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $

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Yowell company granted a sales discount of $360 to a customer when it collected the amount due on account. yowell uses the perpetual inventory system. which of the following answers reflects the effects on the financial statements of only the discount? assets = liab. + equity rev. − exp. = net inc. cash flow a. (360 ) = na + (360 ) (360 ) − na = (360 ) (360 ) oa b. na = (360 ) + 360 360 − na = 360 na c. (360 ) = na + (360 ) (360 ) − na = (360 ) na d. na = (360 ) + 360 360 − na = 360 na