Internal service funds are most commonly reported in which section of the Government-wide financial statements? Multiple...
Internal service funds are most commonly reported in which section of the Government-wide financial statements? Multiple Choice None of the above. Governmental Activities. Component Unit. Business-type Activities.
Homework Answers
Answer: Governmental Activities.
Explanation: Internal service funds generally are reported in the governmental activities sections of the government-wide financial statements.
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Internal service funds are most commonly reported in which
section of the Government-wide financial statements? Multiple...
The following information is available for the preparation of the government-wide financial statements of the City...
The following information is available for the preparation of the government-wide financial statements of the City of Sunbury as of June 30, 2017: Accounts payable, business-type activities $340,000 Accounts payable, governmental activities 610,000 Capital assets, net, business-type activities 10,400,000 Capital assets, net, governmental activities 10,800,000 Cash and cash equivalents, business-type activities 1,700,000 Cash and cash equivalents, governmental activities 1,800,000 Inventories, business-type activities 600,000 Net assets, restricted for debt service, business-type activities 640,000 Net assets, restricted for debt service, governmental activities...
The following information is available for the preparation of the government-wide financial statements for the City...
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities $ 3,120,000 Cash and cash equivalents, business-type activities 713,000 Receivables, governmental activities 527,000 Receivables, business-type activities 1,079,000 Inventories, business-type activities 422,000 Capital assets, net, governmental activities 8,603,000 Capital assets, net, business-type activities 9,212,000 Accounts payable, governmental activities 528,000 Accounts payable, business-type activities 536,000 Noncurrent liabilities, governmental activities 4,432,000 Noncurrent liabilities,...
Which of the following statements is false? A)With respect to fund basis financial statements, a government...
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1. With respect to the preparation of fund basis financial statements, enterprise funds are considered to be major when which of the following conditions exist? Multiple Choice Both When total assets, liabilities, revenues, or expenses of that individual enterprise fund constitutes 10% of the total for the enterprise fund category and When total assets, liabilities, revenues, or expenses of that individual enterprise fund are 5% of the total of the governmental and enterprise categories, combined required to be a major...
The following information is available for the preparation of the government-wide financial statements for the City...
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities $ 3,400,000 Cash and cash equivalents, business-type activities 777,000 Receivables, governmental activities 574,000 Receivables, business-type activities 1,175,000 Inventories, business-type activities 459,000 Capital assets, net, governmental activities 9,357,000 Capital assets, net, business-type activities 10,019,000 Accounts payable, governmental activities 574,000 Accounts payable, business-type activities 582,000 Noncurrent liabilities, governmental activities 4,813,000 Noncurrent liabilities,...
Reporting reconciliation between fund and government-wide financial statements Sai-Tu Village reported outstanding long-term bonds payable of $6,000,000 in the governmental activities column of its go...
Reporting reconciliation between fund and government-wide financial statements Sai-Tu Village reported outstanding long-term bonds payable of $6,000,000 in the governmental activities column of its government-wide statement of net position for the year ended December 31, 2019. During 2020, Sai-Tu Village sold $500,000 of new general obligation bonds and repaid $300,000 of bonds outstanding at the beginning of the year. Based on this information, determine the reconciliation amounts reported in the two funds’ financial statements to the two government-wide financial statements....
The following information is available for the preparation of the government-wide financial statements for the City...
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020 Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Net position, net Investment in capital assets, governmental activities...
40 With regard to GASB No. 34, which of the following statements is true? A Government-wide...
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The following information is available for the preparation of the government-wide financial statements for the City...
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The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020 Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Net position, net Investment in capital assets, governmental activities...
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The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Net position, net investment in capital assets, governmental activities...
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