At the beginning of fiscal year 2014, the City of Wooster established a central supplies storehouse to service its several funds. The general fund contributed $25,000,000 (nonrefundable) to aid in the establishment of the supplies storehouse. It was agreed that the storehouse would charge other funds for the purchase price of supplies plus 20%. During the year, the storehouse purchased $20,000,000 of supplies, paid operating expenses of $2,000,000, and billed other funds for $19,200,000. All accounts are settled except $1,500,000 remaining to be collected from the general fund for supplies billed. Required
a. Prepare the statement of revenues, expenses, and changes in net position for fiscal 2014, and the statement of net position at the end of fiscal 2014 for the central supplies storehouse.
b. State any effects of the transactions on the financial statements of the general fund of Wooster. Assume the general fund bought supplies for $12,000,000, consumed $11,700,000 of supplies, uses the purchases method, and supplies balances are significant.

Marvin wrote a check of $58.25 for the water bill and $450 for rent. he also made a deposit of $124.16. how much is his new balance after writing the checks and making the deposit?

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)

In terms of precent, beer has more alcohol than whiskey true or false