The City of Warwick Received $4,000,000 from One of Its

question 8

Multiple Choice

The City of Warwick received $4,000,000 from one of its most prominent citizens during the year ended June 30,2009.The donor stipulated that the $4,000,000 be invested permanently,and that interest and dividends earned on the investments be used to support the homeless people of Warwick.During the year ended June 30,2009,dividends received from stock investments amounted to $20,000,while interest received from bond investments amounted to $40,000.At June 30,2009,$10,000 of interest was earned,but it will not be received until July of 2009.The fair value of the securities in which the $4,000,000 was invested had increased $8,000 by June 30,2009.
-Refer to the above information.For the year ended June 30,2009,what amount should the trust fund report as investment earnings on the statement of revenues,expenses,and changes in fund balance?

• A)$60,000
• B)$68,000
• C)$70,000
• D)$78,000

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Shipment Seized

The act of authorities taking control over goods in transit due to non-compliance with laws or regulations.

Equilibrium Price

The price at which the quantity of goods demanded by consumers equals the quantity of goods supplied by producers, resulting in market balance.

Fine

Fine refers to a monetary penalty imposed as punishment for an offense or violation, often used by governments or regulatory bodies to enforce laws and regulations.

Industry Demand

The total demand for products or services within a particular industry or sector.