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 2Q
To determine
Explain the recognition of general fund expenditures and the major exceptions.
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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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- Which among the following process is related to fund allocation for different activities? a.Budgeted appropriation b.Disbursement c.Encumbrance d.Reservationarrow_forwardThe modified accrual foundation of accounting is used by which fund category? Under the modified accrual basis of accounting, what are the revenue and expenditures recognition rules?arrow_forwardWhat mechanism ensure that funds have been properly allocated and spent?arrow_forward
- for which funds are budgetary comparison schedules or statements required? should the actual revenues and expenditureson the budgetary comparison schedules be reported on the GAAP basis? why or why not?arrow_forwardFor which funds are budgetary comparison schedules or statements requires?arrow_forwardwhat is actuarial valuatio and explain the advantages and disadvantages of carrying out this exercise on; the fund and the scheme.arrow_forward
- Does the modified accrual accounting method apply to this kind of fund? What are the requirements for recognizing sales and expenses under the modified accrual accounting method?arrow_forwardWhat are the characteristic of a proprietary fund? How do internal service funds and enterprise funds differ?arrow_forwardWhat is discretionary distribution in trust fund? And Give (1) example that is easy to understand.arrow_forward
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