ADV.FIN.ACCT. CONNECT+PROCTORIO PLUS
12th Edition
ISBN: 9781266379017
Author: Christensen
Publisher: INTER MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 17, Problem 17.3.9E
To determine
Concept Introduction: In the case of a governmental unit, funds can be generated by grants or donations received from the general public. These can be restricted or unrestricted.
The correct option for situation that will increase a governmental unit’s fund balance at the fiscal year end.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
"The sum of fund balance in the beginning of the year and estimated revenues are less than the Appropriations". Does it amount to:
O a. Compliance to state balance budget laws
O b. Violation of state balance budget laws
O c. Balanced budget
d. None of the above
8
Which of the following items would not appear in a statement of revenues, expenditures, and changes in fund balances prepared for a
governmental fund?
Multiple Choice
Depreciation expense.
Interfund transfers in.
Revenues from property taxes.
Expenditures for employee salaries.
Which of the following adjustments is necessary to move from governmental fund financial statements to government-wide financial statements? a. Eliminate expenditures for debt principal b. Eliminate expenditures for capital outlay and add depreciation expense c. Both of the above d. Neither of the above
Chapter 17 Solutions
ADV.FIN.ACCT. CONNECT+PROCTORIO PLUS
Ch. 17 - Prob. 17.1QCh. 17 - What are the nine funds that local and state...Ch. 17 - Compare the modified accrual basis with the...Ch. 17 - Prob. 17.4QCh. 17 - When are property taxes recognized as revenue in...Ch. 17 - Prob. 17.6QCh. 17 - Prob. 17.7QCh. 17 - Are all expenditures encumbered?Ch. 17 - Prob. 17.9QCh. 17 - Prob. 17.10Q
Ch. 17 - When is the expenditure for inventories recognized...Ch. 17 - Prob. 17.12QCh. 17 - Prob. 17.13QCh. 17 - Prob. 17.14QCh. 17 - Prob. 17.15QCh. 17 - Prob. 17.1CCh. 17 - Prob. 17.2CCh. 17 - Prob. 17.3CCh. 17 - Prob. 17.1.1ECh. 17 - Prob. 17.1.2ECh. 17 - Prob. 17.1.3ECh. 17 - Prob. 17.1.4ECh. 17 - Prob. 17.1.5ECh. 17 - Prob. 17.2ECh. 17 - Prob. 17.3.1ECh. 17 - Prob. 17.3.2ECh. 17 - Prob. 17.3.3ECh. 17 - Prob. 17.3.4ECh. 17 - Prob. 17.3.5ECh. 17 - Prob. 17.3.6ECh. 17 - Prob. 17.3.7ECh. 17 - Prob. 17.3.8ECh. 17 - Prob. 17.3.9ECh. 17 - Prob. 17.3.10ECh. 17 - Prob. 17.4.1ECh. 17 - Prob. 17.4.2ECh. 17 - Prob. 17.4.3ECh. 17 - Prob. 17.4.4ECh. 17 - Prob. 17.4.5ECh. 17 - Prob. 17.4.6ECh. 17 - Prob. 17.4.7ECh. 17 - Prob. 17.4.8ECh. 17 - Prob. 17.4.9ECh. 17 - Prob. 17.4.10ECh. 17 - Prob. 17.5ECh. 17 - Prob. 17.6ECh. 17 - Prob. 17.7ECh. 17 - Computation of Revenues Reported on the Statement...Ch. 17 - Prob. 17.9ECh. 17 - Prob. 17.10ECh. 17 - Prob. 17.11ECh. 17 - Prob. 17.12ECh. 17 - General Fund Entries [AICPA Adapted] The following...Ch. 17 - Prob. 17.14PCh. 17 - Prob. 17.15PCh. 17 - Prob. 17.16PCh. 17 - Prob. 17.17PCh. 17 - Prob. 17.18.1PCh. 17 - Prob. 17.18.2PCh. 17 - Prob. 17.18.3PCh. 17 - Prob. 17.18.4PCh. 17 - Prob. 17.18.5PCh. 17 - Prob. 17.18.6PCh. 17 - Prob. 17.18.7PCh. 17 - Prob. 17.18.8PCh. 17 - Prob. 17.18.9PCh. 17 - Prob. 17.18.10PCh. 17 - Prob. 17.18.11PCh. 17 - Prob. 17.18.12PCh. 17 - Prob. 17.18.13PCh. 17 - Prob. 17.18.14PCh. 17 - Prob. 17.18.15PCh. 17 - Prob. 17.18.16PCh. 17 - Prob. 17.18.17PCh. 17 - Prob. 17.18.18PCh. 17 - Prob. 17.18.19PCh. 17 - Prob. 17.18.20PCh. 17 - Prob. 17.18.21PCh. 17 - Prob. 17.18.22PCh. 17 - Prob. 17.18.23PCh. 17 - Prob. 17.18.24PCh. 17 - Prob. 17.18.25PCh. 17 - Prob. 17.18.26PCh. 17 - Prob. 17.18.27PCh. 17 - General Fund Entries [AICPA Adapted] DeKalb City...Ch. 17 - Prob. 17.18.29PCh. 17 - Prob. 17.18.30PCh. 17 - Prob. 17.18.31PCh. 17 - General Fund Entries [AICPA Adapted] DeKalb City...Ch. 17 - Prob. 17.18.33PCh. 17 - Prob. 17.18.34PCh. 17 - Prob. 17.18.35PCh. 17 - General Fund Entries [AICPA Adapted] DeKalb City...Ch. 17 - Prob. 17.18.37PCh. 17 - Prob. 17.18.38PCh. 17 - Prob. 17.18.39PCh. 17 - Prob. 17.19PCh. 17 - Prob. 17.20P
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- The following events take place: 1. 2. 3. James Smith died and left 100 acres of undeveloped land to the city for a future park. He acquired the land at $100 an acre, but at the date of his death, the land was appraised at $7,200 an acre. The city authorized the transfer of $110,000 of general revenues and the issuance of $1,050,000 in general obligation bonds to construct improvements on the donated land. The bonds were sold at par. The improvements were completed at a cost of $1,160,000, and the operation of the park was turned over to the City Parks Department. Prepare entries in general journal form to record these transactions in the proper fund(s). Designate the fund in which each transaction is recorded. If the transaction did not result in a journal entry to a government fund, record the journal entry needed to reflect the information in the government-wide Statement of Net Position. (Credit account titles are automatically indented when amount is entered. Do not indent…arrow_forwardWhich of the following funds of a governmental unit recognizes revenues in the accounting period only when they are both available and measurable? General Fund Enterprise Fund a. Yes No b. No Yes c. Yes Yes d. No Noarrow_forwardWhich of the financial statements described below is prepared by the general fund of a state or local government? Group of answer choices a.) A statement of revenues, expenses, and changes in retained earnings. b.) An income statement. c.) A statement of revenues, expenditures, and changes in fund balance.arrow_forward
- Which Statement is presented using the accrual basis of accounting? Multiple Choice A. Governmental Fund Balance Sheet B. Government-Wide Statement of Activities C. Statement of Revenues, Expenditure and changes in Fund Balances D. Both A and B choices are true.arrow_forwardGovernmental funds report current financial resources. However, governmental funds may report some assets which are not current financial resources. Which of the assets below is acurrent financial resource at December 31, 2022? A. An advance to an enterprise fund that is scheduled to be repaid in February, 2024. B. Due from other funds. C.A and B. D.Neither A nor B.arrow_forwardVaiarrow_forward
- 2arrow_forwardWhich of the following accounts of a government agency is closed out at the end of the fiscal year? Select the correct response: Appropriations Vouchers payable. Reserve for encumbrance Fund balancearrow_forwardWhich of the following accounts of a governmental unit is debited when a purchase order is approved?a. Appropriationsb. Vouchers Payablec. Fund Balance—Assigned or Committedd. Encumbrancesarrow_forward
- Ch3 5 Which of the following items would not appear in a statement of revenues, expenditures, and changes in fund balances prepared for a governmental fund? Multiple Choice Depreciation expense. Interfund transfers in. Revenues from property taxes. Expenditures for employee salaries. 6. At the end of the fiscal year Encumbrances is closed to Budgetary Fund Balance with a credit. True or Falsearrow_forwardREQUIREMENTS: 1. What is the TOTAL amount of unfunded allotments to be reported in the Registry of Allotments and NCA? 2. How much is the TOTAL unobligated allotments for all RAODs - PS, MOOE and CO?arrow_forward3. A government-wide statement of net position may include a column for each of the following except: A. business type activities B. component units C. governmental activities D. major funds 4.Which type of interfund transactions result in one fund reporting revenues? A. interfund advances B. interfund services provided and used C. reimbursements D. transfersarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSON
Intermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill Education
Financial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education
What is Budgeting? | Budgetary control | Advantages & Limitations of Budgeting; Author: Educationleaves;https://www.youtube.com/watch?v=INnPo0QPXf4;License: Standard youtube license