Homework Answers
A general fund is the primary fund used by a government entity. This fund is used to record all resource inflows and outflows that are not associated with special-purpose funds. The activities being paid for through the general fund constitute the core administrative and operational tasks of the government entity.
Add Answer to:
The following elements can be extracted from a text Attributes Event Relationships Factors What does the...
The following information is extracted from the City of Lucas’ government-wide statement of net position at...
The following information is extracted from the City of Lucas’ government-wide statement of net position at December 31, 2019: Capital assets $2,000,000 Accumulated depreciation, capital assets $1,600,000 Annual depreciation rate on capital assets 10% Bonds payable -0- The following information is extracted from the city's governmental funds statement of revenues, expenditures, and changes in fund balances for the year ended December 31, 2020. Expenditures—capital outlay (General Fund) $40,000 Expenditures—capital outlay (Capital Projects Fund) ...
What does this graph mean and how can I interpret it? Relative Value Value relative to...
What does this graph mean and how can I interpret it?
Relative Value Value relative to August 28, 2019 with 0% reference level 2019-09-20 2019-10-14 2019-11-11 2019-11-13 2019-11-15 2019-11-19 Date 2019-08-28 2019-08-30 2019-09-04 2019-09-06 2019-09-10 2019-09-12 2019-09-16 2019-09-18 2019-09-24 2019-09-26 201909-30 2049-10-02 2019-300 2019-10-08 2019 2020 2019 10-16 2019-10-18 10-22 2019-10-24 2019-10-28 2019-10-30 2019-11-01 2019-11-6 2019-11-07 PG Nike Facebook Portfolio
The draft statement of profit or loss of Event Light Ltd for the year ended 30...
The draft statement of profit or loss of Event Light Ltd for the year ended 30 June 2020 showed a profit before tax of $25 240, included the following items of income and expense: Government grant (exempt from tax) Proceeds on sale of plant Carrying amount of plant sold Impairment of goodwill Bad debts expense Depreciation expense – plant Insurance expense Long-service leave expense 6 000 23 000 20 000 11 100 8 100 14 000 12 900 14 500...
Use the following to answer the next six questions: During the fiscal year ended December 31,...
Use the following to answer the next six questions: During the fiscal year ended December 31, 2017. the City of Johnstown issued 6% genera obligation serial bonds in the amount of $2.000.000 at 102 ($2.040,000) and used $1,980,000 of the proceeds to construct a fire station. The $40,000 premium was transferred to a debt service fund. The $20.000 left in the capital projects fund at the end of the project was later transferred to the debt service fund. The bonds...
P2-45/ LO 2 EF Mon Tulle livestments made in the previous activity. (Identification of activities with...
P2-45/ LO 2 EF Mon Tulle livestments made in the previous activity. (Identification of activities with particular governmental and proprietat: the following events. governmental- and proprietary type funds, indicate which would be used to record each of GF General Fund SRF Special Revenue Fund DSF Debt Service Fund CPF Capital Projects Fund PF Permanent Fund Enterprise Fund ISF Internal Service Fund 1. Bonds were issued by the fund used to account for providing water to the residents of a municipality....
The City of Castleton’s General Fund had the following post-closing trial balance at June 30, 2019,...
The City of Castleton’s General Fund had the following
post-closing trial balance at June 30, 2019, the end of its fiscal
year:
Debits
Credits
Cash
$
276,120
Taxes Receivable—Delinquent
183,000
Allowance for Uncollectible Delinquent Taxes
$
21,960
Interest and Penalties Receivable
6,280
Allowance for Uncollectible Interest and Penalties
1,160
Inventory of Supplies
6,100
Vouchers Payable
48,500
Due to Federal Government
29,490
Deferred Inflows of Resources—Unavailable Revenues
166,160
Fund Balance—Nonspendable—Inventory of Supplies
6,100
Fund Balance—Unassigned
198,130
$
471,500
$
471,500
Record...
How does cellphone service compare between different cities? The data stored in CellService represent the rating...
How does cellphone service compare between different cities? The data stored in CellService represent the rating of Verizon and AT&T in 22 different cities. (Data extracted from "Best Phones and Service," Consumer Reports, January 2012, p. 28, 37.) At the 0.05 level of significance, is there evidence of a difference in the mean cellphone service rating between Verizon and AT&T? You need to download "CellService” data file. End of document Le L show Queries ILS Prope Prope Refresh File Home...
Question 1 The Town of Elderville accounts for its revenues and day-to-day operating expenditures in its...
Question 1 The Town of Elderville accounts for its revenues and day-to-day operating expenditures in its General Fund. The Town uses encumbrance accounting to keep budgetary control over the appropriation for "other expenditures" Prepare journal entries to record these transactions in the General Fund for the calendar year 2019 1. A long-time employee of the Town of Elderville retires. Per Town policy, the employee is paid $9,800 for accumulated vacation pay. 2. To raise the required $315,000 in property taxes,...
Required information (The following information applies to the questions displayed below.) Alcorn Service Company was formed...
Required information (The following information applies to the questions displayed below.) Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $62,000 cash from the issue of common stock. 2. Purchased $1,600 of supplies on account. 3. Purchased land that cost $22,000 cash. 4. Paid $1,600 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $46,000. 6. Paid $23,000 cash for other operating expenses. 7. Collected $40,000...
What evidence of underperformance do you see in your analysis of the financial statements for Bob’s...
What evidence of underperformance do you see in your analysis of the financial statements for Bob’s and is this suggestive that the management team is doing poorly? 2016 2017 2018 2019 2020 Revenue 191 186 210 248 272 Cost of Goods Sold 137 136 157 189 212 Gross Profit 54 50 53 59 60 Selling and General Expenses 19 29 38 48 47 Operating Profit 35 21 15 12 13 Net Interest Expense 1 0 7 6...
What does this graph mean and how can I interpret it?
Relative Value Value relative to August 28, 2019 with 0% reference level 2019-09-20 2019-10-14 2019-11-11 2019-11-13 2019-11-15 2019-11-19 Date 2019-08-28 2019-08-30 2019-09-04 2019-09-06 2019-09-10 2019-09-12 2019-09-16 2019-09-18 2019-09-24 2019-09-26 201909-30 2049-10-02 2019-300 2019-10-08 2019 2020 2019 10-16 2019-10-18 10-22 2019-10-24 2019-10-28 2019-10-30 2019-11-01 2019-11-6 2019-11-07 PG Nike Facebook Portfolio
Use the following to answer the next six questions: During the fiscal year ended December 31, 2017. the City of Johnstown issued 6% genera obligation serial bonds in the amount of $2.000.000 at 102 ($2.040,000) and used $1,980,000 of the proceeds to construct a fire station. The $40,000 premium was transferred to a debt service fund. The $20.000 left in the capital projects fund at the end of the project was later transferred to the debt service fund. The bonds...
P2-45/ LO 2 EF Mon Tulle livestments made in the previous activity. (Identification of activities with particular governmental and proprietat: the following events. governmental- and proprietary type funds, indicate which would be used to record each of GF General Fund SRF Special Revenue Fund DSF Debt Service Fund CPF Capital Projects Fund PF Permanent Fund Enterprise Fund ISF Internal Service Fund 1. Bonds were issued by the fund used to account for providing water to the residents of a municipality....
The City of Castleton’s General Fund had the following
post-closing trial balance at June 30, 2019, the end of its fiscal
year:
Debits
Credits
Cash
$
276,120
Taxes Receivable—Delinquent
183,000
Allowance for Uncollectible Delinquent Taxes
$
21,960
Interest and Penalties Receivable
6,280
Allowance for Uncollectible Interest and Penalties
1,160
Inventory of Supplies
6,100
Vouchers Payable
48,500
Due to Federal Government
29,490
Deferred Inflows of Resources—Unavailable Revenues
166,160
Fund Balance—Nonspendable—Inventory of Supplies
6,100
Fund Balance—Unassigned
198,130
$
471,500
$
471,500
Record...
How does cellphone service compare between different cities? The data stored in CellService represent the rating of Verizon and AT&T in 22 different cities. (Data extracted from "Best Phones and Service," Consumer Reports, January 2012, p. 28, 37.) At the 0.05 level of significance, is there evidence of a difference in the mean cellphone service rating between Verizon and AT&T? You need to download "CellService” data file. End of document Le L show Queries ILS Prope Prope Refresh File Home...
Question 1 The Town of Elderville accounts for its revenues and day-to-day operating expenditures in its General Fund. The Town uses encumbrance accounting to keep budgetary control over the appropriation for "other expenditures" Prepare journal entries to record these transactions in the General Fund for the calendar year 2019 1. A long-time employee of the Town of Elderville retires. Per Town policy, the employee is paid $9,800 for accumulated vacation pay. 2. To raise the required $315,000 in property taxes,...
Required information (The following information applies to the questions displayed below.) Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $62,000 cash from the issue of common stock. 2. Purchased $1,600 of supplies on account. 3. Purchased land that cost $22,000 cash. 4. Paid $1,600 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $46,000. 6. Paid $23,000 cash for other operating expenses. 7. Collected $40,000...
Most questions answered within 3 hours.
-
What is the net ionic equation for the reaction that would occur
when an aqueous solution...
asked 1 hour ago -
A
student bought $1000 worth of furniture. What is the equivalent
annual cost if it is...
asked 1 hour ago -
What taboo subject did Ida B. Wells suggest was consensual
between black men and white women?...
asked 3 hours ago -
You have just been hired by the EPA to help with the new gas
mileage standards...
asked 4 hours ago -
4) A firm is hit by increases in its wage rate, w.
a) How does this...
asked 4 hours ago -
A square current loop 5.4 cm on each side carries a 510 mA
current. The loop...
asked 6 hours ago -
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 7 hours ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 7 hours ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 7 hours ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 7 hours ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 8 hours ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 8 hours ago