In a particular year, the haynes independent school district collects $100 million in property taxes. state law requires that property-rich school districts appropriate and contribute 2 percent of all property taxes that they collect to a state pool, which will be divided among property-poor districts. upon receipt of the taxes, the haynes district, which the state considers a property-rich district, should account
a.$100 million in an agency fund
b.$98 million in a governmental fund and $2 million in an agency fund
c.$100 million in a governmental fund
d.$98 million in a governmental fund and $2 million in a fiduciary fund other than an agency fund

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

Which of the following would be an accurate statement about achieving a balanced budget

During the month of march 2017, weimar world, a tax-preparation service, had the following transactions. * billed $496,000 in revenues on credit * received $164,000 from customers' accounts receivable * incurred expenses of $194,000 but only paid $87,700 cash for these expenses * prepaid $32,220 for computer services to be used next month what was the company's accrual basis net income for the month? select one: a. $302,000 b. $264,080 c. $ 41,860 d. $408,300 e. none of the above