ACCT 567 HOMEWORK

This cost had not been encumbered. Week 1 DQ 2 Accounting vs. How would you compare the accounting for enterprise funds with that of a businesses and b governmental funds? E-Mail us at Justassignment gmail. What financial statements must be presented by a government university that engages in only business-type activities? 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 The amount billed by the contractor see Transaction 7 less 5 percent retainage was paid.

Prepare journal entries to record the preceding information in the general ledger accounts for the Street Improvement Fund. On December 28, , the city issued checks to bondholders for the interest payment due on January 1, Why are there major differences between governmental accounting systems vs. 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. 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. In what significant way do financial audits in government and not-for-profit organizations differ from those carried on in businesses?

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What is the budgetary fund balance? Basic Financial Statements Graded. E-Mail us at Justassignment gmail.

Also record an homewwork for all interfund transfers to be received from the General Fund during the year. What types of activities are recorded under the internal services account?

  THE DESTRUCTORS BY GRAHAM GREENE THESIS

The City of Jamestown has agreed to acquire a new city maintenance building under a capital lease agreement. Interest is an expenditure of the capital projects fund and, per GASB standards, will not be capitalized as part of the cost of street improvements.

acct 567 homework

The capital projects fund to account for the project was designated as the Street Improvement Fund. How would you compare the accounting for enterprise funds with that of a businesses and b governmental funds?

Week 7 DQ 2 Differences in Government. Can another basis be used? Duringthe following events and transactions occurred. Why are there major differences between governmental accounting systems vs.

Show the entry that should be made at the inception of the homewok in the government activities journal. Assume a yield on sinking fund investments of 6 percent per annum, compounded semiannually. Prepare journal entries to record the preceding information in the Town of Dex Recreation Center Construction Fund and homswork governmental activities general journal at the government-wide level. Investment earnings are added to the investment principal.

In what significant way do financial audits in government and not-for-profit organizations differ from those carried on in businesses? Debt Service Fund Trial Balance. The following transactions occurred in Problem Construction Fund Town of Dex.

acct 567 homework

Interest is payable semiannually on January 1 and July 1. Is the government required to account for activities in the internal service fund or in another fund? The amount billed by the contractor hoemwork Transaction 7 less 5 percent retainage was paid. What basis of accounting is used to report governmental activities in government-wide financial statements? Did the debt service fund pay debt obligations related to capital leases?

  ACTIVITY 3.2A UNIT CONVERSION HOMEWORK ANSWER KEY

Prepare a statement of revenues, expenditures, and changes in accct balance for the debt service fund for the hoework ended June 30, Are there instances when a governmental entity is not required to use a debt service fund? Assuming the budget was not amended, what was the budgetary journal entry recorded at the beginning of the fiscal year? Assume that the term bonds had been issued several years earlier at par.

ACCT Week 5 Homework Case study –

InFalts City began work to improve certain streets to be financed by a bond issue and supplemented by a federal grant. Cash received during was as follows: Please provide an explanation as to why accounting transactions for governmental activities as the governmental-wide level tend to be reported differently than transactions for the General Fund? On December 28,the city issued checks to bondholders for the interest payment due on January 1, No actc was immediately available for paying these costs credit Vouchers Payable.

Discuss various situations in which a government has fiduciary responsibility but does not report them in fiduciary funds.