ACCT 567 HOMEWORK

Show the entry that should be made at the inception of the lease in the government activities journal. Prepare journal entries to record the preceding information in the general ledger accounts for the Street Improvement Fund. Did the debt service fund pay debt obligations related to capital leases? Week 5 DQ 2 Financial Reporting: Basic Financial Statements Graded. Using information provided by the trial balance, answer the following. Could you cite some examples?

Accrued interest on bonds sold must be used for interest payments; the premium is designated by state law for eventual payment of bond principal. None of the transactions has been recorded yet. Posted by Unknown at What basis of accounting is used to report governmental activities in government-wide financial statements? Record the estimated impairment loss in the journal for governmental activities at the government-wide level. Prepare a statement of revenues, expenditures, and changes in fund balance for the period, assuming that the date of authorization was July 1,

Cash for the sinking fund additions and the semiannual interest payments will be transferred from the General Fund shortly before the due dates.

ACCT WEEK 2 CASE STUDY I –

You need not provide the journal entry or entries here. Are there instances when a governmental entity is not required to use a debt service fund? Prepare a statement of revenues, expenditures, and changes in fund balance for the debt service fund for the year ended June 30, The City of Jamestown has agreed to acquire a new city maintenance building under a capital lease agreement.

  KENTER CANYON SECOND GRADE HOMEWORK

Did the debt service fund pay debt obligations related to capital leases?

acct 567 homework

This amount had not been encumbered. Newer Post Older Post Home. InFalts City began work to improve certain streets to be financed by a bond issue and supplemented by a federal grant.

The federal grant was recorded as a receivable; half of the grant is to be paid to Falts City in and the remainder late in Should the estimated impairment loss be reported as an extraordinary item?

ACCT Week 5 Homework Case study (KELLER)

In 5677 significant way do financial audits in government and not-for-profit organizations differ from those carried on in businesses? The accrued interest and the premium were recorded in the debt service fund. What basis of accounting is used to report governmental activities in government-wide financial statements? The bonds mature in five years on 5677 1, When does GAAP require the use of a debt service fund?

Week 1 DQ 2 Accounting vs.

Closing entries were prepared as of December 31, As a special item? Record the estimated impairment loss in the journal for governmental activities at the government-wide level.

For each entry you prepare, name the fund in which the entry should be made.

Explanations may be omitted. Basic Financial Statements Graded.

ACCT 567 WEEK 2 CASE STUDY I

ohmework Week 5 DQ 2 Financial Reporting: Can another basis be used? What are some of the key differences between government healthcare accounting and commercial accounting? None of the transactions has been recorded yet. Prepare journal entries to record the preceding information in the general ledger accounts for the Street Improvement Fund.

  GCSNY HOMEWORK HOTLINE

acct 567 homework

Show the entry that should be made in the debt service homewor and governmental activities journal to record the second lease payment. Show the entry that should be made in a capital projects fund at the inception of the lease after the initial payment has been made.

Did the debt service fund perform a debt refunding?

Prepare journal entries to record the preceding information in the Town of Dex Recreation Center Construction Fund and the governmental activities general journal at the government-wide level. Based on this information: No money was immediately available for paying these costs credit Vouchers Payable. Following are a number of unrelated transactions for K-Town, some of which affect governmental activities at the government-wide level. How would you compare the accounting for enterprise funds with that of a businesses and b governmental funds?

acct 567 homework

Start the discussion

Leave a Reply

Your email address will not be published. Required fields are marked *