Questions from Accounting for Government and Non-Profit

Q: Answer the following questions with regard to infrastructure: a.

Answer the following questions with regard to infrastructure: a. What is infrastructure? b. What are the two methods that might be used to record infrastructure expense from year to year? How is the...

Q: Go to the GASB website (www.gasb.org).

Go to the GASB website (www.gasb.org). What is the mission of GASB?

Q: Under the reporting model required by GASB Statement 34, fund statements

Under the reporting model required by GASB Statement 34, fund statements are required for governmental, proprietary, and fiduciary funds. Government wide statements include the Statement of Net Positi...

Q: List some of the major adjustments required when converting from fund financial

List some of the major adjustments required when converting from fund financial statements to government-wide statements.

Q: The following information is available for the preparation of the government wide

The following information is available for the preparation of the government wide financial statements for the City of Southern Springs as of April 30, 2017: From the preceding information, prepare...

Q: The following information is available for the preparation of the government wide

The following information is available for the preparation of the government wide financial statements for the City of Northern Pines for the year ended June 30, 2017: / From the previous informatio...

Q: The City of Grinders Switch maintains its books in a manner that

The City of Grinders Switch maintains its books in a manner that facilitates the preparation of fund accounting statements and uses worksheet adjustments to prepare government-wide statements. You are...

Q: Amherst City provides a defined benefit pension plan for employees of the

Amherst City provides a defined benefit pension plan for employees of the city electric utility, an enterprise fund. Assume that the projected level of earnings on plan investments is $190,000, the se...

Q: With regard to current GASB standards for other postemployment benefit reporting:

With regard to current GASB standards for other postemployment benefit reporting: 1. What are other postemployment benefits? 2. What are the reporting requirements of OPEB obligations for financial st...

Q: Presented below is the Governmental Funds Balance Sheet for the Warrenton Library

Presented below is the Governmental Funds Balance Sheet for the Warrenton Library District, a special-purpose entity engaged in a single governmental activity. Prepare a combined Governmental Funds Ba...