4-a-14] in december 2020, the general fund transferred $17,500 to the street improvement bond debt service fund to assist with an interest payment due on january 1, 2021. required: record this transaction in the general fund only. the transaction has no effect at the government-wide level since it occurs between two governmental activities. do not record this transaction in the street improvement bond debt service fund until instructed to do so in chapter 6 of this case.

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

Money from an allowance or job is known as .

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak