Pearson eText for Governmental and Nonprofit Accounting -- Instant Access (Pearson+)

11th Edition

ISBN: 9780137561667

Author: Robert Freeman, Craig Shoulders

Publisher: PEARSON+

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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…

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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.

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Chapter 5, Problem 2Q

Chapter 5, Problem 4Q

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Chapter 5 Solutions

Pearson eText for Governmental and Nonprofit Accounting -- Instant Access (Pearson+)

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

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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.

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