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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Question
Chapter 6, Problem 2.8E
To determine
Identify the correct event that requires restatement of beginning fund balance.
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Students have asked these similar questions
The following information was taken from Kingbird Electrical Service Company cash budget for the month of July: Beginning cash balance $150000 Cash receipts 144000 Cash disbursements 204000 If the company has a policy of maintaining an end of the month cash balance of $150000, the amount the company would have to borrow is
$60000.
$90000.
$43200.
$30000.
Journalize entries
1. Cash balance per bank, July 31, $8,004.
2. July bank service charge not recorded by the depositor $46.
3. Cash balance per books, July 31, $8,096.
4. Deposits in transit, July 31, $3,266.
5. $1,840 collected from a customer for Sheridan Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sheridan Company.
6. Outstanding checks, July 31, $1,380.
OPD, who is claimed as a dependent by his parents, is 17. He received income of $3,400 from a trust fund and $700 from wages. He had $1,200 in itemized deductions. What is his taxable income?
Chapter 6 Solutions
Governmental and Nonprofit Accounting (11th Edition)
Ch. 6 - Distinguish between an expenditure in the...Ch. 6 - Prob. 2QCh. 6 - On January 2, 20X1, materials costing 100 were...Ch. 6 - A city entered into a capital lease of equipment...Ch. 6 - Is a governments nonspendable fund balance in the...Ch. 6 - Prob. 6QCh. 6 - Prob. 7QCh. 6 - Prob. 8QCh. 6 - Prob. 9QCh. 6 - A government uses the purchases method to account...
Ch. 6 - Prob. 1ECh. 6 - Prob. 2.1ECh. 6 - Prob. 2.2ECh. 6 - An Expenditures account in a General Fund should...Ch. 6 - Both the periodic and perpetual inventory systems...Ch. 6 - Prob. 2.5ECh. 6 - Assume a governmental entity enters into a capital...Ch. 6 - Prob. 2.7ECh. 6 - Prob. 2.8ECh. 6 - (Various Entries) Record the following...Ch. 6 - (Capital Lease Entries) Record the following 20X8...Ch. 6 - Prob. 5ECh. 6 - (Purchases vs. Consumption Method) The city of...Ch. 6 - (Capital Outlay; InventoryPurchases Method) (a)...Ch. 6 - (Capital Outlay; InventoryConsumption Method) (a)...Ch. 6 - Record the following 20X9 transactions in the...Ch. 6 - Prob. 5PCh. 6 - (GL and SL EntriesErrors, Pensions, Changes,...Ch. 6 - Prob. 8PCh. 6 - Prob. 10PCh. 6 - Prob. 1CCh. 6 - Prob. 2CCh. 6 - Prob. 1CC
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