ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
18th Edition
ISBN: 9781307515596
Author: RECK
Publisher: MCG/CREATE
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Textbook Question
Chapter 2, Problem 19EP
Matching Funds with Transactions. (LO2-3) Choose the letter of the sample transaction in the right-hand column that would most likely be reported in the fund listed in the left-hand column.
Fund | Example |
1. Custodial | a. Construction of public buildings. |
2. Capital projects | b. Costs of a central purchasing and warehouse function. |
3. Debt service | c. Gifts in which the principal must be invested and preserved, while the investment earnings must be used to provide scholarships to children of police officers who died in the line of duty. |
4. Enterprise | d. Administrative expenses of the city manager’s office. |
5. General | e. Assets held for external government participants in the government’s investment pool for the purpose of earning investment income. |
6. Internal service | f. Gifts in which the principal must be invested and preserved but the investment earnings can be used for public purposes. |
7. Investment trust | g. Costs of operating a municipal swimming pool. |
8. Pension (and other employee benefit) trust | h. Taxes collected on behalf of another government unit. |
9. Permanent | i. Assets held in trust to provide retirement benefits for municipal workers. |
10. Private-purpose trust | j. Principal and interest payments on general long-term debt. |
11. Special revenue | k. Grant revenues restricted for particular operating purposes. |
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Chapter 2 Solutions
ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
Ch. 2 - Prob. 1QCh. 2 - Prob. 2QCh. 2 - Prob. 3QCh. 2 - Explain the modified accrual basis of accounting....Ch. 2 - Prob. 5QCh. 2 - What is the primary reason government entities use...Ch. 2 - What is meant by the terms deferred outflows of...Ch. 2 - How do expenses and expenditures differ?Ch. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Accounting and Reporting Principles. (LO2-3) The...Ch. 2 - Prob. 12CCh. 2 - Which of the following statements is true...Ch. 2 - Prob. 16.2EPCh. 2 - Prob. 16.3EPCh. 2 - The measurement focus and basis of accounting that...Ch. 2 - Which of the following amounts that are identified...Ch. 2 - Prob. 16.6EPCh. 2 - Prob. 16.7EPCh. 2 - Under the modified accrual basis of accounting a....Ch. 2 - Prob. 16.9EPCh. 2 - A certain city reports the following year-end...Ch. 2 - Prob. 16.11EPCh. 2 - Prob. 16.12EPCh. 2 - Prob. 16.13EPCh. 2 - Prob. 16.14EPCh. 2 - Which of the following fund(s) will generally be...Ch. 2 - Prob. 17EPCh. 2 - Prob. 18EPCh. 2 - Matching Funds with Transactions. (LO2-3) Choose...Ch. 2 - Fund Balance Classifications. (LO2-3) Section A...Ch. 2 - Prob. 21EPCh. 2 - Major Funds. (LO2-4) At the end of the fiscal...
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What is Fund Accounting?; Author: Aplos;https://www.youtube.com/watch?v=W5D5Dr0j9j4;License: Standard Youtube License