Questions from Accounting for Government and Non-Profit

Q: The State Auditor of Missouri is an elected official. In auditing

The State Auditor of Missouri is an elected official. In auditing the financial statements of the University of Missouri, what special problems relating to independence would he or she face that a pri...

Q: The president of a major state university has a problem. A

The president of a major state university has a problem. A group of alumni are complaining that the university’s athletic program is an embarrassment to the university and are demanding that the athle...

Q: Sun City accounts for its telecommunication services in an internal service fund

Sun City accounts for its telecommunication services in an internal service fund. In a recent year its records indicated the following: Billings to units accounted for in governmental funds……………………………...

Q: A municipality expects to use a landfill evenly throughout the 25 years

A municipality expects to use a landfill evenly throughout the 25 years from January 1, 2017, to December 31, 2041. Upon closing the landfill it estimates that it will incur closing costs of $300,000....

Q: In 2018, a city opens a municipal landfill, which it

In 2018, a city opens a municipal landfill, which it will account for in an enterprise fund. It estimates capacity to be 6 million cubic feet and usable life to be 20 years. To close the landfill, the...

Q: In Year 1, as a result of routine testing, a

In Year 1, as a result of routine testing, a city discovers that local wells are polluted. Investigation reveals that the source of the contamination is an abandoned waste dump that the city owns. At...

Q: What follows are the statement of revenues, expenses, and changes

What follows are the statement of revenues, expenses, and changes in net position, and the statement of cash flows for Tucson, Arizona’s fleet services internal service fund. 1. How do you account for...

Q: The City Electric Utility (CEU), which a city accounts for

The City Electric Utility (CEU), which a city accounts for in its enterprise fund, provides cash rebates to customers who install insulation, storm windows, or energy-saving appliances. The payments a...

Q: The city of Tribville recently centralized its mobile technology (phones,

The city of Tribville recently centralized its mobile technology (phones, computers, and tablets) functions for the government in a single internal service fund. City officials want the fund to break...

Q: Select the best answer. 1. A city’s general

Select the best answer. 1. A city’s general fund has an outstanding payable to its electric utility, which is accounted for in an enterprise fund. The utility has a corresponding receivable from the...