Business, 30.07.2021 03:00 angelmosby9

On January 1, 2020, the City of Hastings creates a solid waste landfill that it expects to reach capacity gradually over the next 20 years. If the landfill were to be closed at the current time, closure costs would be approximately $1.88 million plus an additional $750,000 for postclosure work. Of these totals, the city must pay $63,500 on December 31 of each year for preliminary closure work. At the end of 2020, the landfill reaches 3 percent of capacity. At the end of 2021, the landfill reaches 11 percent of capacity. At the end of 2021, a reassessment is made. Experts determine total closure costs will be $2.08 million rather than $1.88 million. a. Assume the city views the landfill as an enterprise fund. What journal entries should the city make in 2020 and 2021 in preparing government-wide financial statements?
b. Assume the city views the landfill as being within the general fund. What journal entries should the city make in 2020 and 2021 in preparing government-wide financial statements?
c. Assume the city views the landfill as an enterprise fund. What journal entries should the city make in 2020 and 2021 in preparing fund financial statements?
d. Assume the city views the landfill as being within the general fund. What journal entries should the city make in 2020 and 2021 in preparing fund financial statements?

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:20

Miller mfg. is analyzing a proposed project. the company expects to sell 8,000 units, plus or minus 2 percent. the expected variable cost per unit is $11 and the expected fixed costs are $287,000. the fixed and variable cost estimates are considered accurate within a plus or minus 5 percent range. the depreciation expense is $68,000. the tax rate is 32 percent. the sales price is estimated at $64 a unit, plus or minus 3 percent. what is the earnings before interest and taxes under the base case scenario?

Answers: 1

Answer

Business, 22.06.2019 06:30

Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods

Answers: 1

Answer

Business, 22.06.2019 09:40

Microsoft's stock price peaked at 6118% of its ipo price more than 13 years after the ipo suppose that $10,000 invested in microsoft at its ipo price had been worth $600,000 (6000% of the ipo price) after exactly 13 years. what interest rate, compounded annually, does this represent? (round your answer to two decimal places.)

Answers: 1

Answer

Business, 22.06.2019 11:00

While on vacation in las vegas jennifer, who is from utah, wins a progressive jackpot playing cards worth $15,875 at the casino royale. what implication does she encounter when she goes to collect her prize?

Answers: 1

Answer

You know the right answer?

On January 1, 2020, the City of Hastings creates a solid waste landfill that it expects to reach cap...

Questions