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 2, Problem 2.1E
The operations of a municipal government’s public library receiving the majority of its support from property taxes levied solely for that purpose should be accounted for in
- a. the General Fund.
- b. a Special Revenue Fund.
- c. an Enterprise Fund.
- d. an Internal Service Fund.
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The billings for transportation services provided to other governmental units are recorded by
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Required: - a. Prepare Statement of Revenues, Expenditure and Changes in Fund Balance and
b. Prepare Statement of Net Assets/Balance Sheet.
Chapter 2 Solutions
Governmental and Nonprofit Accounting (11th Edition)
Ch. 2 - Governmental accounting systems are different from...Ch. 2 - Funds used in state and local government...Ch. 2 - Prob. 3QCh. 2 - Why are a municipalitys general capital assets and...Ch. 2 - Prob. 5QCh. 2 - Under what circumstances should a government use a...Ch. 2 - Identify the fund types that are classified as...Ch. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Define interfund loans and interfund transfers,...Ch. 2 - Prob. 12QCh. 2 - Prob. 13QCh. 2 - What is the accounting equation for a governmental...Ch. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Prob. 18QCh. 2 - Prob. 1.1ECh. 2 - Financial assets include a. capital assets that...Ch. 2 - All of the following are considered governmental...Ch. 2 - Each of the following is a fiduciary fund except...Ch. 2 - Prob. 1.5ECh. 2 - Which of the following transactions would not be...Ch. 2 - The transactions associated with a Community...Ch. 2 - The city of Hannah has established a trust to...Ch. 2 - A transaction in which a municipal electric...Ch. 2 - Prob. 1.10ECh. 2 - The operations of a municipal governments public...Ch. 2 - The proceeds of a federal grant made to assist in...Ch. 2 - The receipts from a special tax levy to retire and...Ch. 2 - The operations of a municipal swimming pool with...Ch. 2 - Prob. 2.5ECh. 2 - A municipalitys issuance of general obligation...Ch. 2 - Expenditures of 200,000 were made during the year...Ch. 2 - The activities of a central motor pool that...Ch. 2 - A city collects property taxes on behalf of the...Ch. 2 - A transaction in which a municipal electric...Ch. 2 - (Fund and Nonfund Accounts Identification)...Ch. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Prob. 6ECh. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Prob. 10ECh. 2 - a. Analyze the effects of each of the following...Ch. 2 - a. Analyze the effects of the following...Ch. 2 - Prob. 3PCh. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - Prob. 6PCh. 2 - (State of CaliforniaFund Identification) The...Ch. 2 - a. Analyze the effects of the following...
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- Which of the following is an example of activities that are likely to be accounted for in a government's general fund? a. sales taxes collected by a state on behalf of counties within the state b. donations that must be kept intact, but whose income must be used to beautify parks c. property taxes levied and collected. d. electricity utilities of government that are financed by user chargesarrow_forwardThe billings for transportation services provided to other governmental units are recorded by the internal service fund asa. other financing sources.b. intergovernmental transfers.c. transportation appropriations.d. operating revenues.arrow_forwardIn which of the following fund types of a city government are revenues and expenditures recognized on the same basis of accounting as the general fund?a. Private-purpose trust fundsb. Internal servicec. Enterprised. Debt servicearrow_forward
- What is the purpose of enterprise funds? Choose the correct.a. To account for operations that provide services to other departments within a government.b. To account for asset transfers.c. To account for ongoing activities such as the police and fire departments.d. To account for operations financed in whole or in part by outside user charges.arrow_forwardGovernments often provide goods and services to citizens or other governmental units at a fee. These activities are accounted for in: a. the general fund b. governmental funds c. proprietary funds d. special revenue fundsarrow_forwardA gift to a government company is recorded to Select one: a Permanent fund b. Special revenue fund c. General fund d. Debt service fundarrow_forward
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- Assets and liabilities of activities for which the government is acting in either an agency or trustee capacity for individuals, organizations, or other governments should be reported in: a. The fiduciary column of the government-wide financial statements. O b. The fiduciary fund financial statements. c. Both government-wide and fiduciary fund statements. d. Neither government-wide nor fiduciary fund statements.arrow_forwardIf not expenditure driven, a grant approved and paid by the federal government to assist in a city’s welfare program during the current year should be credited to a. Revenues. b. Fund Balance—Reserved forWelfare Programs. c. Fund Balance—Unassigned. d. Other Financing Sources.arrow_forwardWhich of the following is a governmental fund? Special revenue fund Internal service fund Capital projects fund Debt service fundarrow_forward
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