The city council of lake jefferson passed a resolution to establish a small botanical garden in the city park. the council decided to put aside funds in the amount of 22,000 to build and establish the botanical garden. at the end of the fiscal year, $3,000 of the funds had been spent. how should the remainder of the funds be reported? a. committed fund balance. b. assigned fund balance. c. restricted fund balance. d. non-spendable fund balance.

The law of demand is the assertion that ?

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of