5. Seventy percent (70%) of all categorical grants are: Project grants Formula grants Part formula and...
5. Seventy percent (70%) of all categorical grants are:
- Project grants
- Formula grants
- Part formula and project grant
- Block grant
_______6. An Enterprise Fund is an example of a:
- General Fund
- Fiduciary Fund
- Proprietary fund
- Special Fund
Homework Answers
Categorical grant is mostly conditional grant given by Govt. of respective countries,most (70%) of which is project grant.This project grant is given with a view to execute a particular project or task.
An enterprise fund is an example of proprietary fund.
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5. Seventy percent (70%) of all categorical grants are:
Project grants
Formula grants
Part formula and...
5. Seventy percent (70%) of all categorical grants are: Project grants Formula grants Part formula and...
5. Seventy percent (70%) of all categorical grants are: Project grants Formula grants Part formula and project grant Block grant _______6. An Enterprise Fund is an example of a: General Fund Fiduciary Fund Proprietary fund Special Fund
5. Seventy percent (70%) of all categorical grants are: Project grants Formula grants Part formula and...
5. Seventy percent (70%) of all categorical grants are: Project grants Formula grants Part formula and project grant Block grant _______6. An Enterprise Fund is an example of a: General Fund Fiduciary Fund Proprietary fund Special Fund
1. On June 1, 2020, a school district levies the property taxes for its fiscal year...
1. On June 1, 2020, a school district levies the property taxes for its fiscal year that will end on June 30, 2021. The total amount of the levy is $1,000,000, and 1% is expected to be uncollectible. On levy, $250,000 is collected in June 2020 and another $500,000 is collected in July and August 2010 What is the maximum amount of property tax revenue associated with the June 1, 2020, levy that the school district might report as revenue...
5. Seventy percent of all vehicles examined at a certain emissions inspection station pass the inspection....
5. Seventy percent of all vehicles examined at a certain emissions inspection station pass the inspection. Assuming that successive vehicles pass or fail independently of one another, calculate the following probabilities: a. P(all of the next three vehicles inspected pass) b. P(at least one of the next three inspected fails) c. P(exactly one of the next three inspected passes) d. Pat most one of the next three vehicles inspected passes) e. Given that at least one of the next three...
government-wide statements is Simulation Example 4 The following relate to the town of Coupland (dollar amounts in thousands): Equipment used in a vehicle repair service that provides service to othe...
government-wide statements is Simulation Example 4 The following relate to the town of Coupland (dollar amounts in thousands): Equipment used in a vehicle repair service that provides service to other departments on a cost- reimbursement basis; the equipment has a 10-year life with no salvage value $1,400 Property taxes levied and collected $6,300 Hotel taxes (restricted to promotion of tourism) collected $1,200 Proceeds of bonds to build a parking garage that must be repaid from user charges $4,000 Proceeds of...
5 18. General Capital Assets 5 Make all recessary entries in the appropriate govermen al fund...
5 18. General Capital Assets 5 Make all recessary entries in the appropriate govermen al fund 뜬eneral Journal and the govellnent wide gover nental activities general Journal for each ofthe following transactions entered into by the City of Loveland. . The city received a donation ofland that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $5,200,000 and was recorded on the donor's...
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...
I need help with this Just journal entry for government funds accounts used: No Journal Entry Re...
I need help with this
Just journal entry for government funds
accounts used:
No Journal Entry Required
Accumulated Depreciation
Appropriations
Budgetary Fund Balance
Buildings
Capital Lease Obligations Payable
Cash
Construction Expenditures
Construction Work in Progress
Encumbrances
Encumbrances Outstanding
Estimated Revenues
Expenditures—General Government
Expenses—General Government
Expenses—Public Safety
Fund Balance—Assigned
Fund Balance—Unassigned
Gain on Sale of Machinery
Interfund Transfers Out
Land
Loss on Sale of Machinery
Machinery and Equipment
Other Financing Sources—Capital Lease Agreements
Other Financing Sources—Proceeds of Capital Asset Sale
Other...
The City of St. Louis, Mississippi (population just under 24,000) passed a bond issue for $2,500,000, 4.5 percent, semiannual interest, 10 year bonds to finance the construction of a second high schoo...
The City of St. Louis, Mississippi (population just under 24,000) passed a bond issue for $2,500,000, 4.5 percent, semiannual interest, 10 year bonds to finance the construction of a second high school to be called McGhee High, named in memory of the Pulitzer Prize winning author, William Faulkner. The State also contributed $110,000 for construction of the gymnasium. The contractor selected then submitted her contract for $2,080,000 to commence on January 2, 2019, with the project’s estimated completion in late...
The City of St. Louis, Mississippi (population just under 24,000) passed a bond issue for $2,500,000, 4.5 percent, semiannual interest, 10 year bonds to finance the construction of a second high schoo...
The City of St. Louis, Mississippi (population just under 24,000) passed a bond issue for $2,500,000, 4.5 percent, semiannual interest, 10 year bonds to finance the construction of a second high school to be called McGhee High, named in memory of the Pulitzer Prize winning author, William Faulkner. The State also contributed $110,000 for construction of the gymnasium. The contractor selected then submitted her contract for $2,080,000 to commence on January 2, 2019, with the project’s estimated completion in late...
1. On June 1, 2020, a school district levies the property taxes for its fiscal year that will end on June 30, 2021. The total amount of the levy is $1,000,000, and 1% is expected to be uncollectible. On levy, $250,000 is collected in June 2020 and another $500,000 is collected in July and August 2010 What is the maximum amount of property tax revenue associated with the June 1, 2020, levy that the school district might report as revenue...
5. Seventy percent of all vehicles examined at a certain emissions inspection station pass the inspection. Assuming that successive vehicles pass or fail independently of one another, calculate the following probabilities: a. P(all of the next three vehicles inspected pass) b. P(at least one of the next three inspected fails) c. P(exactly one of the next three inspected passes) d. Pat most one of the next three vehicles inspected passes) e. Given that at least one of the next three...
government-wide statements is Simulation Example 4 The following relate to the town of Coupland (dollar amounts in thousands): Equipment used in a vehicle repair service that provides service to other departments on a cost- reimbursement basis; the equipment has a 10-year life with no salvage value $1,400 Property taxes levied and collected $6,300 Hotel taxes (restricted to promotion of tourism) collected $1,200 Proceeds of bonds to build a parking garage that must be repaid from user charges $4,000 Proceeds of...
5 18. General Capital Assets 5 Make all recessary entries in the appropriate govermen al fund 뜬eneral Journal and the govellnent wide gover nental activities general Journal for each ofthe following transactions entered into by the City of Loveland. . The city received a donation ofland that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $5,200,000 and was recorded on the donor's...
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...
I need help with this
Just journal entry for government funds
accounts used:
No Journal Entry Required
Accumulated Depreciation
Appropriations
Budgetary Fund Balance
Buildings
Capital Lease Obligations Payable
Cash
Construction Expenditures
Construction Work in Progress
Encumbrances
Encumbrances Outstanding
Estimated Revenues
Expenditures—General Government
Expenses—General Government
Expenses—Public Safety
Fund Balance—Assigned
Fund Balance—Unassigned
Gain on Sale of Machinery
Interfund Transfers Out
Land
Loss on Sale of Machinery
Machinery and Equipment
Other Financing Sources—Capital Lease Agreements
Other Financing Sources—Proceeds of Capital Asset Sale
Other...
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