Questions from Accounting for Government and Non-Profit

Q: Following are transactions and events of the General Fund of the City

Following are transactions and events of the General Fund of the City of Springfield for the fiscal year ended December 31, 2017. 1. Estimated revenues (legally budgeted) Property taxesâ€...

Q: The town council of Riverside estimated revenues for 2017 to be $

The town council of Riverside estimated revenues for 2017 to be $685,000 from property taxes and $165,000 from business licenses. The appropriations budget from the council was as follows: General g...

Q: The City of Oxbow General Fund has the following net resources at

The City of Oxbow General Fund has the following net resources at year-end: $250,000 unexpended proceeds of a state grant required by law to be used for health education. $10,000 of prepaid insuranc...

Q: How should rainy day funds be reported?

How should rainy day funds be reported?

Q: Prepare budgetary entries, using general ledger control accounts only, for

Prepare budgetary entries, using general ledger control accounts only, for each of the following unrelated situations: a. Anticipated revenues are $11.1 million; anticipated expenditures and encumbra...

Q: For each of the summarized transactions for the Village of Sycamore General

For each of the summarized transactions for the Village of Sycamore General Fund, prepare the general ledger journal entries. a. The budget was formally adopted, providing for estimated revenues of $...

Q: Jefferson County established a capital project fund in 2016 to build low

Jefferson County established a capital project fund in 2016 to build low income housing with the transfer of $100,000 from the General Fund. A portion of that was expended on engineering studies in 20...

Q: What are the required financial statements of a federal agency?

What are the required financial statements of a federal agency?

Q: What bodies are responsible for establishing accounting standards for the federal government

What bodies are responsible for establishing accounting standards for the federal government and its agencies?

Q: Distinguish between private and public sector organization.

Distinguish between private and public sector organization.