Loose-leaf For Accounting For Governmental & Nonprofit Entities

18th Edition

ISBN: 9781260190083

Author: Jacqueline L. Reck James E. Rooks Distinguished Professor, Suzanne Lowensohn, Daniel Neely

Publisher: McGraw-Hill Education

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Textbook Question

Chapter 5, Problem 17.1EP

Under GASB standards, which of the following would be considered an example of an intangible asset?

a. A lake located on city property.
b. Water rights associated with the springs that supply the water to the lake.
c. The city’s irrigation system, which uses water from the lake.
d. None of the above would be considered an intangible asset.

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Chapter 5, Problem 15C

Chapter 5, Problem 17.2EP

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Chapter 5 Solutions

Loose-leaf For Accounting For Governmental & Nonprofit Entities

Ch. 5 - What are general capital assets? How are they...Ch. 5 - Explain what disclosures the GASB requires for...Ch. 5 - Prob. 3Q Ch. 5 - Prob. 4Q Ch. 5 - Prob. 5Q Ch. 5 - What is the accounting difference between using...Ch. 5 - Prob. 7Q Ch. 5 - Prob. 8Q Ch. 5 - Prob. 9Q Ch. 5 - What is a service concession arrangement, and why...

Ch. 5 - Prob. 13C Ch. 5 - Prob. 14C Ch. 5 - Prob. 15C Ch. 5 - Under GASB standards, which of the following would...Ch. 5 - Two new copiers were purchased for use by the city...Ch. 5 - Maxim County just completed construction of a new...Ch. 5 - A capital projects fund would probably not be used...Ch. 5 - Machinery and equipment depreciation expense for...Ch. 5 - Prob. 17.6EP Ch. 5 - Prob. 17.7EP Ch. 5 - Callaway County issued 10,000,000 in bonds at 101...Ch. 5 - Neighborville enters into a lease agreement for...Ch. 5 - Neighborville enters into a lease agreement for...Ch. 5 - Prob. 17.11EP Ch. 5 - Prob. 17.12EP Ch. 5 - Prob. 17.13EP Ch. 5 - Arbitrage rules under the Internal Revenue Code a....Ch. 5 - Prob. 17.15EP Ch. 5 - Make all necessary entries in the appropriate...Ch. 5 - Prob. 19EP Ch. 5 - Prob. 20EP Ch. 5 - In the current year, the building occupied by...Ch. 5 - Prob. 22EP Ch. 5 - Make all necessary entries in a capital projects...Ch. 5 - The year-end pre-closing trial balance for the...Ch. 5 - Prob. 25EP Ch. 5 - This year Riverside began work on an outdoor...

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Solution Summary: The author identifies the example for intangible assets as per the Government Accounting Standards Board (GASB).

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Chapter 5 Solutions