Address the Following Situations Separately

question 23

Essay

Address the following situations separately.
1.For the budgetary year beginning July 1,2011,Coastal City expected the following cash flow resources:
In the budgetary entry,what amount did Coastal City record for estimated revenues?
2.During the fiscal year ended June 30,2011,Western County issued purchase orders totaling $7,000,000.Western County received $6,500,000 of invoiced goods at the encumbered amounts and paid $6,100,000 toward them before year-end.
How much were Western County's encumbrances on July 1,2011?
3.The following information pertains to property taxes levied ($1,035,000 total)by Southern Township for the calendar year 2011:
What amount did Southern Township report for property tax revenues in 2011?
4.The following information pertains to Northern City's general fund for 2011:
At what amount will Northern City's total fund balance increase (decrease)in 2011?

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Definitions:

Consumption Bundle

A collection or combination of various goods or services that an individual consumer purchases or consumes.

Slope

In mathematics, the slope of a line is a measure of its steepness, often calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Indifference Curve

An indifference curve represents a graph showing different bundles of goods between which a consumer is indifferent, meaning they derive the same level of utility from each.

Midterm Grade

An evaluative score or assessment typically given to students halfway through a term to indicate their academic performance up to that point.