ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
18th Edition
ISBN: 9781307515596
Author: RECK
Publisher: MCG/CREATE
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Textbook Question
Chapter 6, Problem 5Q
Although the most common type of general long-term liabilities are those arising from financing activities (e.g., bonds, notes, and lease agreements), general long-term liabilities also can be created through operating activities. Provide examples of long-term liabilities other than those related to financing.
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Chapter 6 Solutions
ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
Ch. 6 - Prob. 1QCh. 6 - What disclosures about long-term liabilities are...Ch. 6 - Prob. 3QCh. 6 - Prob. 4QCh. 6 - Although the most common type of general long-term...Ch. 6 - What is overlapping debt? Why would a citizen care...Ch. 6 - Prob. 7QCh. 6 - Prob. 8QCh. 6 - How are debt issuance costs accounted for at the...Ch. 6 - Under what circumstances might a government...
Ch. 6 - Prob. 11CCh. 6 - A citizens group in your state has placed an...Ch. 6 - A county government and a legally separate...Ch. 6 - Prob. 14CCh. 6 - Evaluating Legal Debt Margins. (LO6-2) Youll be...Ch. 6 - Prob. 17.1EPCh. 6 - Proceeds from bonds issued to construct a new city...Ch. 6 - The liability for long-term debt issued to finance...Ch. 6 - Which one of the following statements regarding...Ch. 6 - Prob. 17.5EPCh. 6 - On March 2, 2020, 20-year, 6 percent, general...Ch. 6 - Prob. 17.7EPCh. 6 - Prob. 17.8EPCh. 6 - The liability for special assessment bonds for...Ch. 6 - Total general long-term indebtedness subject to...Ch. 6 - Payment of general obligation bond interest would...Ch. 6 - Debt issuance costs a. Include legal and...Ch. 6 - If bonds are sold at a premium: a. The premium is...Ch. 6 - Prob. 17.14EPCh. 6 - Prob. 17.15EPCh. 6 - Prob. 18EPCh. 6 - Budgeted and Actual Debt Service Transactions....Ch. 6 - Lease Agreement. (LO6-5) McCormick County agreed...Ch. 6 - Legal Debt Margin and Direct and Overlapping Debt....Ch. 6 - Debt Service Fund Trial Balance. (LO6-5) Following...Ch. 6 - Prob. 23EPCh. 6 - Term Bond Debt Service Fund Transactions. (LO6-5)...Ch. 6 - Prob. 25EP
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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.Similar questions
- Describe the nature, valuation, and reporting of current liabilities.arrow_forwardShort-term obligations can be reported as noncurrent liabilities if the company (a) intends to refinance ona long-term basis and (b) demonstrates the ability to do so by actual financing or a formal agreement to doso.arrow_forwardHow is interest expense determined in a finance lease transaction? How does the approach compare to otherforms of debt (such as bonds payable or notes payable)?arrow_forward
- Explain the characteristics of liabilities.arrow_forwardFair value is used to value which of the following balance sheet accounts? a. Prepaid expenses; patents; property, plant, and equipment b. Capital lease obligations, bonds payable c. Receivables net of allowance for doubtful accounts d. Debtsecurities available for sale, trading securitiesarrow_forwardCan you please describe contingent liabilities and how to account for and/or report them.arrow_forward
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- Examples of Current liabilities includes accounts payable, accruals and other short-term liabilities true or falsearrow_forwardwhich of the followings is considered as long term liability :Select one .a mortgage payable .b current portion of long term liability .C bank overdraft .d unearned revenuesarrow_forwardWhat types of short-term credit are classified as accrued liabilities?arrow_forward
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