For a golf course operating as a propriety fund classify each of the following transactions according to these descriptions: A.    Operating Revenue B.    Non-operating Revenue C.    Transfers In D.    Other Additions and Deductions E.    None of the above answers is correct. The transaction does not affect the Statement of Revenues, Expenses, & Changes in Net Assets     Billing to customers for services Answer 1 Question 2 Money received from General Fund for club house renovations Answer 2 Question 2 Loan from a special revenue fund Answer 3 Question 2 Interest income on fund investments Answer 4 Question 2 Grant from state for kitchen equipment Answer 5 Question 2 Gain on the sale of investments Answer 6 Question 2 Billing from GF for “Contribution/Payments in Lieu of Taxes” Answer 7 Question 2 Golf Course fund bills the general fund for reimbursement for extra security guard payroll costs incurred by GCF when hosting 4th of July fireworks display at the city’s request Answer 8 Q

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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For a golf course operating as a propriety fund classify each of the following transactions according to these descriptions:

A.    Operating Revenue

B.    Non-operating Revenue

C.    Transfers In

D.    Other Additions and Deductions

E.    None of the above answers is correct. The transaction does not affect the Statement of Revenues, Expenses, & Changes in Net Assets

 


 

Billing to customers for services

Answer 1 Question 2

Money received from General Fund for club house renovations

Answer 2 Question 2

Loan from a special revenue fund

Answer 3 Question 2

Interest income on fund investments

Answer 4 Question 2

Grant from state for kitchen equipment

Answer 5 Question 2

Gain on the sale of investments

Answer 6 Question 2

Billing from GF for “Contribution/Payments in Lieu of Taxes”

Answer 7 Question 2

Golf Course fund bills the general fund for reimbursement for extra security guard payroll costs incurred by GCF when hosting 4th of July fireworks display at the city’s request

Answer 8 Question 2
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