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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Textbook Question

Chapter 7, Problem 2.6E

Which of the following would not be reported on the balance sheet of a Capital Projects Fund?

a. Bond anticipation note payable.
b. Restricted fund balance.
c. Nonspendable fund balance.
d. Capital assets.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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Chapter 7, Problem 2.5E

Chapter 7, Problem 2.7E

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Chapter 7 Solutions

Governmental and Nonprofit Accounting (11th Edition)

Ch. 7 - When is a Capital Projects Fund used by a...Ch. 7 - Prob. 2Q Ch. 7 - What is the life cycle of a Capital Projects Fund?Ch. 7 - Why is each significant capital project usually...Ch. 7 - In what situations could several capital projects...Ch. 7 - Prob. 6Q Ch. 7 - Prob. 7Q Ch. 7 - Prob. 8Q Ch. 7 - Prob. 9Q Ch. 7 - Prob. 10Q

Ch. 7 - Prob. 11Q Ch. 7 - Prob. 12Q Ch. 7 - Which of the following general government capital...Ch. 7 - Budgets for Capital Projects Funds are a. often...Ch. 7 - Which of the following are sometimes reported as...Ch. 7 - Wakefield Heights sold 6,000,000 of general...Ch. 7 - Which of the following statements regarding the...Ch. 7 - Common expenditures in a Capital Projects Fund...Ch. 7 - Prob. 1.7E Ch. 7 - In practice, which of the following is false...Ch. 7 - The funding sources for a Capital Projects Fund...Ch. 7 - Prob. 2.2E Ch. 7 - When grant resources are received before...Ch. 7 - Bonds are sold to finance the construction of a...Ch. 7 - After restricted and committed levels of fund...Ch. 7 - Which of the following would not be reported on...Ch. 7 - The City of Hope received an unrestricted grant in...Ch. 7 - Expenditures are made in a Capital Projects Fund...Ch. 7 - A GAAP-based Statement of Revenues, Expenditures,...Ch. 7 - Prob. 2.10E Ch. 7 - (General Ledger Entries) The following...Ch. 7 - (Long-Term Debt Issuances) Swenson Township issued...Ch. 7 - (Short Discussion and Analysis) Briefly discuss...Ch. 7 - (Statement of Revenues, Expenditures, and Changes...Ch. 7 - (Multiple Choice Problems and Computations)...Ch. 7 - Prob. 2P Ch. 7 - (Statement of Revenues, Expenditures, and Changes...Ch. 7 - Prob. 6P Ch. 7 - (CPF Journal EntriesBlue Earth County, Montana)...

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Which of the following would not be reported on the balance sheet of a Capital Projects Fund? a. Bond anticipation note payable. b. Restricted fund balance. c. Nonspendable fund balance. d. Capital assets.

Solution Summary: The author explains that the capital project fund is used to track the financial resources to construct capital assets. The non-fundable fund balance contains amount that are not spend or need to be maintained in the trust.

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Chapter 7 Solutions

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