Governmental and Nonprofit Accounting (11th Edition)
11th Edition
ISBN: 9780133799569
Author: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
Publisher: PEARSON
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Chapter 2, Problem 8E
To determine
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Chapter 2 Solutions
Governmental and Nonprofit Accounting (11th Edition)
Ch. 2 - Governmental accounting systems are different from...Ch. 2 - Funds used in state and local government...Ch. 2 - Prob. 3QCh. 2 - Why are a municipalitys general capital assets and...Ch. 2 - Prob. 5QCh. 2 - Under what circumstances should a government use a...Ch. 2 - Identify the fund types that are classified as...Ch. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Define interfund loans and interfund transfers,...Ch. 2 - Prob. 12QCh. 2 - Prob. 13QCh. 2 - What is the accounting equation for a governmental...Ch. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Prob. 18QCh. 2 - Prob. 1.1ECh. 2 - Financial assets include a. capital assets that...Ch. 2 - All of the following are considered governmental...Ch. 2 - Each of the following is a fiduciary fund except...Ch. 2 - Prob. 1.5ECh. 2 - Which of the following transactions would not be...Ch. 2 - The transactions associated with a Community...Ch. 2 - The city of Hannah has established a trust to...Ch. 2 - A transaction in which a municipal electric...Ch. 2 - Prob. 1.10ECh. 2 - The operations of a municipal governments public...Ch. 2 - The proceeds of a federal grant made to assist in...Ch. 2 - The receipts from a special tax levy to retire and...Ch. 2 - The operations of a municipal swimming pool with...Ch. 2 - Prob. 2.5ECh. 2 - A municipalitys issuance of general obligation...Ch. 2 - Expenditures of 200,000 were made during the year...Ch. 2 - The activities of a central motor pool that...Ch. 2 - A city collects property taxes on behalf of the...Ch. 2 - A transaction in which a municipal electric...Ch. 2 - (Fund and Nonfund Accounts Identification)...Ch. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Prob. 6ECh. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Prob. 10ECh. 2 - a. Analyze the effects of each of the following...Ch. 2 - a. Analyze the effects of the following...Ch. 2 - Prob. 3PCh. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - Prob. 6PCh. 2 - (State of CaliforniaFund Identification) The...Ch. 2 - a. Analyze the effects of the following...
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- Accounting for permanent funds closely resembles the accounting for a. internal service funds. b. general funds. c. enterprise funds. d. agency funds.arrow_forwardAll oI toe above are 3. Which of the following accounts appears on both the interim and year-end balance sheets of the General Fund? a) Revenues. b) Reserve for encumbrances. c) Encumbrances. d) Appropriations. 4. Which of the following would be considered a general capital asset? a) A vehicle purchased from general fund revenues. b) A vehicle purchased and maintained by an enterprise fund. c) A computer purchased from revenues of an internal service fund and used by the supplies department. d) Real estate purchased with the assets of a pension trust fund. 5. A machine is sold for S500. It had originally been purchased for $8,000 using GF It is fully depreciated. Gain on sale of equipment account should be revenues. recorded in the General fund journal as: a) Debit in 500$. b) Credit in 500$. c) Credit in 7500$. d) Gain on sale of equipment account will not recorded in general fund journal. الولايات المتحدة الأمريكية( hparrow_forwardWhich of the following statements is true? O a. The principal of permanent funds are classified as Nonspendable Fund Balance O b. The fund balance of permanent funds should be classified as Nonspendatie, Spendatie, and Cammited Net Poston O. Any governmental fund may have an Unassigned Fund Balance. O d. Fund balances of debt service funds are classified as Restricted and Unrestrictedarrow_forward
- 3. Which of the following accounts appears on both the interim and year-end balance sheets of the General Fund? a) Revenues. b) Reserve for encumbrances. c) Encumbrances. d) Appropriations. 4. Which of the following would be considered a general capital asset? a) A vehicle purchased from general fund revenues. b) A vehicle purchased and maintained by an enterprise fund. c) A computer purchased from revenues of an internal service fund and used by the supplies department. d) Real estate purchased with the assets of a pension trust fund. 5. A machine is sold for $500. It had originally been purchased for $8,000 using GF It is fully depreciated. Gain on sale of equipment account revenues. should be recorded in the General fund journal as: a) Debit in 500S. b) Credit in 500$. c) Credit in 7500S. d) Gain on sale of equipment account will not recorded in general fund journal. Question Three: mini casesarrow_forwardThe focus of governmental funds in fund accounting is a(n): a. Economic Resource Measurement Focus. b. Financial Resources Measurement Focus. c. Cash Flow Measurement Focus. d. Accrual Measurement Focus.arrow_forwardWhat are the two different ways that supplies and prepaid items can be recorded on fund financial statements?arrow_forward
- 3. 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_forwardWhich of the following is budgetary account: a. Budgetary fund balance b. Revenue- fines and fees c. Voucher payable d. Unreserved fund balancearrow_forwardPrepare a Balance Sheet for the governemental Funds assumiong all unexpended spendable net resources in the capital projects fund are classified as restricted and in the debt service fund are classified as assigned.arrow_forward
- An inter-fund transfer out should be reported in a governmental fund operating statement as a (an)arrow_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_forward4. Governmental fund financial statements are prepared using: a) A current financial resources measurement focus and the modified accrual basis of accounting. b) A current financial resources measurement focus and the accrual basis of accounting. O c) An economic resources measurement focus and the modified accrual basis of accounting. d) An economic resources measurement focus and the accrual basis of accounting.arrow_forward
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