Questions from Accounting for Government and Non-Profit

Q: Using the information from Exercise 14–6, prepare a schedule

Using the information from Exercise 14–6, prepare a schedule showing the status of the appropriation at the end of the first quarter. Data from Exercise 14-6: Assume a federal agency has the followi...

Q: The Town of McHenry has $10,000,000 in

The Town of McHenry has $10,000,000 in general obligation bonds outstanding and maintains a single debt service fund for all debt service transactions. On July 1, 2017, a current refunding took place...

Q: Jefferson County operates a centralized motor pool to service county vehicles.

Jefferson County operates a centralized motor pool to service county vehicles. At the end of 2016, the Motor Pool Internal Service Fund had the following account balances: The following events took...

Q: Rural County is an agricultural community located hundreds of miles from any

Rural County is an agricultural community located hundreds of miles from any metropolitan center. The County established a Television Reception Improvement Fund to serve the public interest by constru...

Q: In December 2016, the Hamilton County Board of Commissioners established the

In December 2016, the Hamilton County Board of Commissioners established the Hamilton County OPEB Trust Fund. Retired employees of Hamilton County can participate in postemployment benefits through th...

Q: Identify and describe the five environmental differences between governments and for-

Identify and describe the five environmental differences between governments and for-profit business enterprises as identified in the Governmental Accounting Standards Board’s Why Governmental Account...

Q: A successful businessman in the community has contacted the Moose County Board

A successful businessman in the community has contacted the Moose County Board of Commissioners about donating income-producing securities to the County to support a particular activity. Under the agr...

Q: The fund-basis financial statements of Jefferson County have been completed

The fund-basis financial statements of Jefferson County have been completed for the year 2017 and appear in the first tab of the Excel spreadsheet provided with this exercise. The following informatio...

Q: The fund-basis financial statements of the City of Cottonwood have

The fund-basis financial statements of the City of Cottonwood have been completed for the year 2017 and appear in the first tab of the Excel spreadsheet provided with this exercise. In addition, the g...

Q: The fund-basis financial statements of Cherokee Library District (a

The fund-basis financial statements of Cherokee Library District (a special purpose government engaged only in governmental activities) have been completed for the year 2017 and appear in the second a...