Answer:
The total medical expenses deductible before the 10% limitation is 2090
Explanation:
Solution
Recall that:
The Total expenses included is stated as follows:
Th Hotel room is = $150 * two rooms * three nights
Mileage of = $900,
Miles = 1000
Doctor's bill ins an Francisco = 1,600
Now,
To next step is to find the total medical expenses deductible before the 10% limitation is given as follows:
Doctor's bill = 1,600
The total expenses i hotel room is calculated as :150 * 1 *3 = 450
So,
The total = 1600 + 450 = 2050
It is also important to know that only 10% of the expense stay for the accompanied person is permitted
Therefore,
450*10% =45
Total 2050+45 = 2090
Answer:
get competitive bids from at least three prospective suppliers
Explanation:
In these specific situations, organizational buyers must often get competitive bids from at least three prospective suppliers. This is because due to the fact that the purchasing amounts are very large there can also be large amounts of money saved by saving a couple of percentages on a purchase. Also since the seller can make large profits from a large order like this one, most suppliers place competitive bids in order to win the transaction.
Answer:
C) As an other financing source in the debt service fund and as an other financing use in the capital projects fund.
Explanation:
The options are missing:
- A) As a revenue in the debt service fund and as an expenditure in the capital projects fund.
-
B) As an other financing source in the capital projects fund and as an other financing use in the debt service fund.
-
C) As an other financing source in the debt service fund and as an other financing use in the capital projects fund.
-
D) As a special item in both the debt service and capital project funds.
Other financing sources is an account used by governments to record non-operating revenues and expenditures. The debt service fund is the money that the government has set aside to pay for its outstanding bonds. The capital projects fund is the account used by the government to record expenses related to certain projects.
Answer:
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
Explanation:
The journal entry is given below;
For Governmental fund financial statements
Encumbrances-Office Supplies $1,500
To Encumbrances Outstanding $1,500
(Being Office Supplies ordered is recorded)
For Government-wide financial statements
No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise
Therefore the option a is correct
