ACCT 567 WEEK 7 HOMEWORK

Both of the above Neither of the above 5. A narrative explanation of the contents of the CAFR. Which programs would be considered Type A programs and why? Make all necessary entries in the appropriate governmental fund general journal and the government-wide governmental activities general journal for each of the following transactions entered into by the City of Fordache. Current financial resources measurement focus and accrual basis of accounting. TCO E When a government acquires general fixed assets under a capital lease agreement, how should the asset be recorded in the government-wide financial statements? Debt service funds are reported in a separate column in the government-wide financial statements.

An investigation into whether a social service agency of a state government improved the lives of the clients. Money received from rental of surplus office space. Required by GAAP for all government fund types. Make all necessary entries in the appropriate governmental fund general journal and the government-wide governmental activities general journal for each of the following transactions entered into by the City of Fordache. TCO E When a government acquires general fixed assets under a capital lease agreement, how should the asset be recorded in the government-wide financial statements? Which programs would be considered Type A programs and why? The conditions of both A and B exist.

C The construction of a fire station addition.

ACCT 567 Week 7 Homework Problems: 16-3,17-6

Cash collected and transferred in as follows: Click Card to flip. Prepare a statement of cash flows for the internal service fund for the city of Pearman from the following information: TCO F Any activities that produce goods or services to be provided to other departments or other governmental units would be reported in which fund?

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Agency funds use the temporary accounts—Additions and Deductions.

acct 567 week 7 homework

TCOs B and C Capital assets that are used by an enterprise fund should be accounted for in the following fund? None of the above 8. Gain on disposal of capital assets. The information provided on this site is protected by U. It is optional under GASB standards for all funds. When authorized by the budget ordinance. The total amount deducted is added to wee collections for the county and remitted to the Lincoln County General Fund.

At the inception of the lease agreement at the lesser of the present value of the minimum lease payments of the fair market value of the property. Make all necessary entries in the appropriate governmental fund general journal and the government-wide governmental activities general journal for each of the following transactions entered into by the City of Fordache.

ACCT Week 2 Problems and , , – Devry University

Purchase orders issued in in the following amounts were filled in at the following amounts: Which programs would be considered Type A programs and why?

Charges to departments during the fiscal year were as follows: A discussion of economic factors and the budget and tax rates approved for the next year. Monies received from a fund-raising campaign. Additional information indicates that Programs 4 and 10 were audited as major programs in each of the two preceding fiscal years, with no audit findings reported. It is estimated that 2. TCO E Which of the following projects would usually be accounted for in a capital projects fund?

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acct 567 week 7 homework

If you found out that a new manager with no previous experience was now in charge of Program 4, would your answer to part b change? Transfer of the residual equity of a capital projects fund acxt the debt service fund.

Only after the work is completely finished for the project.

Elizabeth College, a small private college, had the following transactions in fiscal year ACCT Week 3 Problems and Make all necessary entries in the appropriate governmental fund general journal and the government-wide governmental activities general journal for each of the following transactions entered into by the City of Fordache. Both of the above Neither of the above 5.

The General Fund of Middleville has presented you with the following trial balance as of June 30, B The construction of a parking garage that seek operated as an enterprise fund. Required by GAAP for all government fund types.

Taxes collected by the General Fund and transferred to the debt service fund. Exercise 1—3 Chapter 2: Budgetary Compliance The cost of government services Fiscal accountability.