Address the Following Situations Separately

question 18

Essay

Address the following situations separately.
1.For the budgetary year beginning July 1,2014,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 30,2014,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 1,2014?
3.The following information pertains to property taxes levied ($1,035,000 total)by Southern Township for the calendar year 2014:
What amount did Southern Township report for property tax revenues in 2014?
4.The following information pertains to Northern City's general fund for 2014:
At what amount will Northern City's total fund balance increase (decrease)in 2014?

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Definitions:

IPO

Initial Public Offering, the process through which a private company becomes publicly traded by offering its shares to the public for the first time.

Initial Public Offering

The first sale of stock by a private company to the public, often used by companies to raise capital for expansion.

Share Issuance

The process by which a company issues new shares of stock to investors or shareholders, increasing the number of outstanding shares.

Share Buy-backs

The process by which a company purchases its own shares from the marketplace, reducing the amount of outstanding stock on its balance sheet.