Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement. To explain :the proceeds from bonds issue are accounted in governmental funds.

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Answer 1

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Chapter 18, Problem 18.7Q

To determine

Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement.

To explain:the proceeds from bonds issue are accounted in governmental funds.

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Question

Chapter 18, Problem 18.7Q

To determine

Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement.

To explain:the proceeds from bonds issue are accounted in governmental funds.

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Answer 3

Question

Chapter 18, Problem 18.7Q

To determine

Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement.

To explain:the proceeds from bonds issue are accounted in governmental funds.

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Answer 4

Question

Chapter 18, Problem 18.7Q

To determine

Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement.

To explain:the proceeds from bonds issue are accounted in governmental funds.

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Answer 5

Chapter 18, Problem 18.7Q

To determine

Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement.

To explain:the proceeds from bonds issue are accounted in governmental funds.

Answer 6

Chapter 18, Problem 18.7Q

To determine

Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement.

To explain:the proceeds from bonds issue are accounted in governmental funds.

Answer 7

Chapter 18, Problem 18.7Q

To determine

Long-term debts: the government funds includes the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid. Bonds are not reported as governmental funds but reported as governmental wide financial statement.

To explain:the proceeds from bonds issue are accounted in governmental funds.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 18 - In what circumstances would a governmental unit...Ch. 18 - Prob. 18.2Q Ch. 18 - Prob. 18.3Q Ch. 18 - Prob. 18.4Q Ch. 18 - What is the basis of accounting in the proprietary...Ch. 18 - Prob. 18.6Q Ch. 18 - Prob. 18.7Q Ch. 18 - What are the primary differences between a...Ch. 18 - Prob. 18.9Q Ch. 18 - Prob. 18.10Q

Solution Summary: The author explains that the government funds include the general fund, record the proceeds from issue of bond as a debt. Bond issue proceeds are not revenue because the bonds must be repaid.

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