General government financial resources to be used to finance construction of a general government construction project t...
General government financial resources to be used to finance
construction of a general government
construction project typically should be accounted for in
a) A Capital Projects Fund.
b) A Debt Service Fund.
c) The General Fund.
d) A Special Revenue Fund.
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General government financial resources to be used to finance construction of a general government construction project t...
All of the following funds have a financial resources measurement focus with the exception of which...
All of the following funds have a financial resources measurement focus with the exception of which fund? a. debt service fund b. enterprise fund c. special revenue fund d. capital projects fund All of the following are elements of the statement of financial condition for 12. state and local governments with the exception of a. Assets and Liabilities b. Deferred inflow and outflow of resources c. Net position d. Inflow and outflow of resources Which of the following items should...
W e LUL Chapter 5 respect to Debt Service Funds, which of the following is not...
W e LUL Chapter 5 respect to Debt Service Funds, which of the following is not con A) Typically, resources are provided through transfers from the General of the funds B) Encumbrances are recorded to reflect principal payments that are expected to come due within the current accounting period. C) There are two types of debt service expenditures: interest and principal D) In most cases, interest and principal payments are not recorded until payment is due cases, inpes of debt...
5-22. Recording Capital Projects Fund Transactions. (L05-4) In Fulbright County, the Culture and Recreation Department constructed...
5-22. Recording Capital Projects Fund Transactions. (L05-4) In Fulbright County, the Culture and Recreation Department constructed a library in one of the county's high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction occurred within the current fiscal year. The county operates on a calendar-year basis. 1. The county issued $6,000,000 of 4 percent bonds, with interest payable semiannually on January...
The state government established a capital project fund in 2016 to build new highways. The fund...
The state government established a capital project fund in 2016 to build new highways. The fund is supported by a 5 percent tax on diesel fuel sales in the state. The tax is collected by private gas stations and remitted in the following month to the State. The following transactions occurred during 2017: Capital Project Fund Trial Balance: December 31, 2016 Debits Credits Cash $8,700,000 Taxes Receivable 2,550,000 Contracts Payable $1,875,000 Fund Balance 9,375,000 1. $2,100,000 of encumbrances outstanding at...
Please record the transactions below in journal below. Please note that each of these transactions will...
Please record the transactions below in journal below. Please note that each of these transactions will involve two funds. a) The general fund transferred $4,000 to the capital projects fund for funding the CPF's capital project. This will not be repaid. b) The general fund provided bookkeeping services for the capital projects fund and was paid $5,000 for these services by the capital projects fund. c) The special revenue fund loaned $3,000 to the debt service fund. This will be...
In Fulbright County, the Culture and Recreation Department constructed a library in one of the county’s...
In Fulbright County, the Culture and Recreation Department constructed a library in one of the county’s high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction occurred within the current fiscal year. The county operates on a calendar-year basis. Required Prepare a journal entry for capital projects fund and governmental activities at the government-wide level. (If no entry is required for...
In Fulbright County, the Culture and Recreation Department constructed a library in one of the county’s...
In Fulbright County, the Culture and Recreation Department
constructed a library in one of the county’s high-growth areas. The
construction was funded by a number of sources. Below is selected
information related to the Library Capital Project Fund. All
activity related to the library construction occurred within the
current fiscal year. The county operates on a calendar-year
basis.
Required
Prepare a journal entry for capital projects fund and governmental
activities at the government-wide level. (If no entry is
required for...
The below represent the funds, accounts, and account groups used by the municipality. For each of...
The below represent the funds, accounts, and account groups used by the municipality. For each of the municipality's funds, accounts, and account groups, select the appropriate method of accounting and reporting. An accounting and reporting method may be selected once, more than once, or not at all. Select answers from list below: Accounted for in a fiduciary fund; accounted for in a proprietary fund; accounted for in a quasi-endowment fund; accounted for in a self-balancing account group; accounted for in...
The below represent the funds, accounts, and account groups used by the municipality. For each of...
The below represent the funds, accounts, and account groups used by the municipality. For each of the municipality's funds, accounts, and account groups, select the appropriate method of accounting and reporting. An accounting and reporting method may be selected once, more than once, or not at all. Select answers from list below: Accounted for in a fiduciary fund; accounted for in a proprietary fund; accounted for in a quasi-endowment fund; accounted for in a self-balancing account group; accounted for in...
Which of the following transactions creates an expenditure on the General Fund statement of revenues, expenditures,...
Which of the following transactions creates an expenditure on the General Fund statement of revenues, expenditures, and changes in fund balances? a.) a loan to the sewage enterprise fund b.) a transfer of resources to the debt service Fund so the Debt Service Fund can pay debt service on general obligation debt c.) a transfer of resources to the Capital Projects Fund to help pay for a major capital project d.) a purchase from the water enterprise fund
All of the following funds have a financial resources measurement focus with the exception of which fund? a. debt service fund b. enterprise fund c. special revenue fund d. capital projects fund All of the following are elements of the statement of financial condition for 12. state and local governments with the exception of a. Assets and Liabilities b. Deferred inflow and outflow of resources c. Net position d. Inflow and outflow of resources Which of the following items should...
W e LUL Chapter 5 respect to Debt Service Funds, which of the following is not con A) Typically, resources are provided through transfers from the General of the funds B) Encumbrances are recorded to reflect principal payments that are expected to come due within the current accounting period. C) There are two types of debt service expenditures: interest and principal D) In most cases, interest and principal payments are not recorded until payment is due cases, inpes of debt...
5-22. Recording Capital Projects Fund Transactions. (L05-4) In Fulbright County, the Culture and Recreation Department constructed a library in one of the county's high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction occurred within the current fiscal year. The county operates on a calendar-year basis. 1. The county issued $6,000,000 of 4 percent bonds, with interest payable semiannually on January...
Please record the transactions below in journal below. Please note that each of these transactions will involve two funds. a) The general fund transferred $4,000 to the capital projects fund for funding the CPF's capital project. This will not be repaid. b) The general fund provided bookkeeping services for the capital projects fund and was paid $5,000 for these services by the capital projects fund. c) The special revenue fund loaned $3,000 to the debt service fund. This will be...
In Fulbright County, the Culture and Recreation Department
constructed a library in one of the county’s high-growth areas. The
construction was funded by a number of sources. Below is selected
information related to the Library Capital Project Fund. All
activity related to the library construction occurred within the
current fiscal year. The county operates on a calendar-year
basis.
Required
Prepare a journal entry for capital projects fund and governmental
activities at the government-wide level. (If no entry is
required for...
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