Reynolds County has three large trucks with a total net book value of $600,000 and remaining lives of six years with no expected residual value. County officials lease the trucks to the City of Webster on January 1, 2020, for six years. Based on a negotiated annual implicit interest rate of 5 percent, the parties agree on annual payments of $112,581 beginning immediately and each January 1 thereafter. For both governments, the trucks relate to activities maintained with the General Fund. What is the total expense Webster reports on government-wide financial statements for 2020?

what amount of deferred lease revenue will Reynolds report on its statement of net position as of December31,2020, assuming that country recognizes revenue on a straight-line method?

The budgets of three companies yield the following information. fill in the blanks for each missing value. Carey Company: Net sales Revenue ________, Variable Costs 196,000, Fixed Costs 162,000, Operating Income (loss)__________, Units Sold 14,000, Contribution Margin per Unit__________, Contribution Margin Ratio 60%.

Doren Company: Met Sales Revenue 950,000, Variable Costs 760,000, Fixed Costs 100,000, Operating Income(loss)__________, Units Sold_________, Contribution Margin per Unit $76.00, Contribution Margin Ratio____________.

Everest Company: Net Sales Revenue___________, Variable Costs 186,300, Fixed Costs____________, Operating Income (loss) 107,800, Units Sold_____________, Contribution Margin per Unit $18.00, Contribution Margin Ratio 40%.

What would the classified balance sheet in good form look like?

White Mountain Consulting is considering a project that would last for 2 years and have a cost of capital of 17.72 percent. The relevant level of net working capital for the project is expected to be 21,000 dollars immediately (at year 0); 32,000 dollars in 1 year; and 0 dollars in 2 years. Relevant expected revenue, costs, depreciation, and cash flows from capital spending in years 0, 1, and 2 are presented in the following table (in dollars). The tax rate is 50 percent. What is the net present value of this project?

Fairfax Paint operates stores in Virginia. The firm is evaluating the Vienna project, which would involve opening a new store in Vienna. During year 1, Fairfax Paint would have total revenue of 300,000 dollars and total costs of 225,000 dollars if it pursues the Vienna project, and the firm would have total revenue of 239,000 dollars and total costs of 184,000 if it does not pursue the Vienna project. Depreciation taken by the firm would be 64,000 dollars if the firm pursues the project and 35,000 dollars if the firm does not pursue the project. The tax rate is 20 percent. What is the relevant operating cash flow (OCF) for year 1 of the Vienna project that Fairfax Paint should use in its NPV analysis of the Vienna project?

Higher unemployment caused by the recession and higher gasoline prices have contributed to a substantial reduction during 2008 in the number of vehicles on roads, bridges, and in tunnels. According to The Wall Street Journal (April 28, 2009), the reduction in demand for toll bridge and tunnel crossing created a serious revenue problem for many cities. In New York, the number of vehicles traveling across bridges and through tunnels fell from 23.6 million in January 2008 to 21.9 million in January 2009. “That drop presents a challenge, because road tolls subsidize MTA subways, which are more likely to be used as people get out of their cars.” In an apparent attempt to rise toll revenue, the MTA increased tolls by 10 percent on the nine crossings it controls.

Prepare a balance sheet at May 31.

he Blossom Company opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as follows.