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

See similar textbooks

Concept explainers

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various tran…

Videos

Textbook Question

Chapter 5, Problem 3Q

The term deferred revenues seems out of place in governmental fund accounting. It would seem that a government either has or does not have expendable financial resources as a result of a property tax, grant, or other revenue transaction. Furthermore, no similar concept, such as deferred working capital, is used in business accounting. Explain the use of the term deferred revenues in governmental fund accounting.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 5, Problem 2Q

Chapter 5, Problem 4Q

Students have asked these similar questions

Need help with this question solution general accounting

Hello tutor please provide this question solution general accounting

Give me correct answer general accounting question

Chapter 5 Solutions

Governmental and Nonprofit Accounting (11th Edition)

Ch. 5 - Prob. 1Q Ch. 5 - Prob. 2Q Ch. 5 - The term deferred revenues seems out of place in...Ch. 5 - Governments often collect cash or must record...Ch. 5 - Modified accrual basis revenue recognition is...Ch. 5 - (a) Should estimated uncollectible amounts of...Ch. 5 - (a) What are expenditure-driven intergovernmental...Ch. 5 - Prob. 8Q Ch. 5 - Prob. 9Q Ch. 5 - During the course of your audit of a city, you...

Ch. 5 - Prob. 11Q Ch. 5 - Prob. 1.1E Ch. 5 - Prob. 1.2E Ch. 5 - Prob. 1.3E Ch. 5 - Prob. 1.4E Ch. 5 - What would the answer be to number 4 if the city...Ch. 5 - A county received 3,000,000 from the state. Of...Ch. 5 - A Special Revenue Fund expenditure of 40,000 was...Ch. 5 - A state received an unrestricted gift of 80,000 of...Ch. 5 - Prob. 1.9E Ch. 5 - Prob. 1.10E Ch. 5 - Prob. 2.1E Ch. 5 - Prob. 2.2E Ch. 5 - Prob. 2.3E Ch. 5 - Prob. 2.4E Ch. 5 - Prob. 2.5E Ch. 5 - Prob. 2.6E Ch. 5 - Prob. 2.7E Ch. 5 - Prob. 2.8E Ch. 5 - Prob. 2.9E Ch. 5 - Prob. 2.10E Ch. 5 - Prob. 3E Ch. 5 - Prob. 4E Ch. 5 - a. Prepare the general journal entries to record...Ch. 5 - Prob. 6E Ch. 5 - Prepare general journal entries to record the...Ch. 5 - Prob. 8E Ch. 5 - The City and County of PreVatte received a state...Ch. 5 - Make all required General Fund journal entries for...Ch. 5 - The city of Asher had the following transactions,...Ch. 5 - 1. The following are the estimated revenues for a...Ch. 5 - Prob. 3P Ch. 5 - Prob. 4P Ch. 5 - Prob. 5P Ch. 5 - Prob. 6P Ch. 5 - Prob. 1C Ch. 5 - Prob. 2C

Additional Business Textbook Solutions

Find more solutions based on key concepts

1-1. Define marketing and outline the steps in the marketing process. (AASCB: Communication)

Marketing: An Introduction (13th Edition)

Fundamental and Enhancing Characteristics. Identify whether the following items are fundamental characteristics...

Intermediate Accounting (2nd Edition)

E6-14 Using accounting vocabulary Learning Objective 1, 2 Match the accounting terms with the corresponding d...

Horngren's Accounting (12th Edition)

How is activity-based costing useful for pricing decisions?

Horngren's Cost Accounting: A Managerial Emphasis (16th Edition)

Mary Williams, owner of Williams Products, is evaluating whether to introduce a new product line. After thinkin...

Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)

Determine the price elasticity of demand if, in response to an increase in price of 10 percent, quantity demand...

Microeconomics

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.

Solution Summary: The author explains the non-recognition of revenue items as a part of current revenue because they are legally restricted for financing in the expenditures of future year.

Concept explainers

Videos

Want to see the full answer?

Chapter 5 Solutions

Additional Business Textbook Solutions