The following relate to the town of Coupland (dollar amounts in Equipment used in a vehicle repair service that provides service to other departments on a cost-reimbursement basis; the equipment has a 10-year life with no salvage value Property taxes levied and collected Hotel taxes (restricted to promotion of tourism) collected Proceeds of bonds to build a parking garage that must be repaid from user charges Proceeds of general obligation bonds to finance construction of a new city hall; the building, which was completed during the year, has a useful life of 30 years with no salvage value Proceeds of a federal grant to hire additional police officers Fees charged to, and collected from, customers by the electric utility $1,400 $6,300 $1,200 $4,000 $9,000 $1,000 $8,000 Refer to the two lists below. Select the appropriate amounts from the lettered list for each item in the than once or not at all.
The following relate to the town of Coupland (dollar amounts in Equipment used in a vehicle repair service that provides service to other departments on a cost-reimbursement basis; the equipment has a 10-year life with no salvage value Property taxes levied and collected Hotel taxes (restricted to promotion of tourism) collected Proceeds of bonds to build a parking garage that must be repaid from user charges Proceeds of general obligation bonds to finance construction of a new city hall; the building, which was completed during the year, has a useful life of 30 years with no salvage value Proceeds of a federal grant to hire additional police officers Fees charged to, and collected from, customers by the electric utility $1,400 $6,300 $1,200 $4,000 $9,000 $1,000 $8,000 Refer to the two lists below. Select the appropriate amounts from the lettered list for each item in the than once or not at all.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![The following relate to the town of Coupland (dollar amounts in thousands):
Equipment used in a vehicle repair service that provides service to other departments
on a cost-reimbursement basis; the equipment has a 10-year life with no salvage value
Property taxes levied and collected
Hotel taxes (restricted to promotion of tourism) collected
Proceeds of bonds to build a parking garage that must be repaid from user charges
Proceeds of general obligation bonds to finance construction of a new city hall; the
building, which was completed during the year, has a useful life of 30 years with no
salvage value
Proceeds of a federal grant to hire additional police officers
Fees charged to, and collected from, customers by the electric utility
10. Long-lived assets to be recognized in internal service funds
a. $0
g. $2,200
b. $140
c. $900
h. $4,000
d. $1,260
e. $1,040
f. $1,400
$1,400
Refer to the two lists below. Select the appropriate amounts from the lettered list for each item in the
numbered list. An amount may be selected once, more than once, or not at all.
1. Revenue to be recognized in an enterprise fund
2. Revenue to be recognized in special revenue funds
3. Bonds payable to be recognized in the general fund
4. Bonds payable to be recognized in enterprise funds
5. Depreciation expenditure to be recognized in the general fund
6. Depreciation expense to be recognized in internal service funds
7. Revenue to be recognized in an internal service fund
8. Revenue to be recognized in the general fund
9. Long-lived assets to be recognized in the general fund
i. $6,300
j. $8,000
k. $8,500
1. $10,400
$6,300
$1,200
$4,000
$9,000
$1,000
$8,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F983f14e4-f738-4af6-b9b9-a1925d857500%2Fac91bc93-4fe8-4034-b7f3-7ca3e1c32e9d%2Ftxgjqgs_processed.png&w=3840&q=75)
Transcribed Image Text:The following relate to the town of Coupland (dollar amounts in thousands):
Equipment used in a vehicle repair service that provides service to other departments
on a cost-reimbursement basis; the equipment has a 10-year life with no salvage value
Property taxes levied and collected
Hotel taxes (restricted to promotion of tourism) collected
Proceeds of bonds to build a parking garage that must be repaid from user charges
Proceeds of general obligation bonds to finance construction of a new city hall; the
building, which was completed during the year, has a useful life of 30 years with no
salvage value
Proceeds of a federal grant to hire additional police officers
Fees charged to, and collected from, customers by the electric utility
10. Long-lived assets to be recognized in internal service funds
a. $0
g. $2,200
b. $140
c. $900
h. $4,000
d. $1,260
e. $1,040
f. $1,400
$1,400
Refer to the two lists below. Select the appropriate amounts from the lettered list for each item in the
numbered list. An amount may be selected once, more than once, or not at all.
1. Revenue to be recognized in an enterprise fund
2. Revenue to be recognized in special revenue funds
3. Bonds payable to be recognized in the general fund
4. Bonds payable to be recognized in enterprise funds
5. Depreciation expenditure to be recognized in the general fund
6. Depreciation expense to be recognized in internal service funds
7. Revenue to be recognized in an internal service fund
8. Revenue to be recognized in the general fund
9. Long-lived assets to be recognized in the general fund
i. $6,300
j. $8,000
k. $8,500
1. $10,400
$6,300
$1,200
$4,000
$9,000
$1,000
$8,000
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