Q: William County opted to account for its duplication service center in an
William County opted to account for its duplication service center in an internal service fund. Previously the center had been accounted for in the county’s general fund. During the first month in whi...
See AnswerQ: The Louisville City bus system engaged in the following transactions:
The Louisville City bus system engaged in the following transactions: 1. It issued $10,000,000 in 8 percent revenue bonds. It used the proceeds to acquire new buses. The bonds were issued at par. 2. C...
See AnswerQ: The chairman of a state legislature’s finance committee has charged that the
The chairman of a state legislature’s finance committee has charged that the Division of Taxation’s computer systems are in chaos and, as a consequence, the state is failing to collect hundreds of mil...
See AnswerQ: The following data relate to the City of Spicewood’s data processing internal
The following data relate to the City of Spicewood’s data processing internal service fund: Billings to police and fire departments……………………………….……. $ 800,000 Billings to water utility department………………...
See AnswerQ: The following list of cash flows was taken from the statement of
The following list of cash flows was taken from the statement of cash flows of Grand Junction’s internal service fund (with all amounts expressed in thousands): Cash on hand at beginning of year………………...
See AnswerQ: The water and wastewater utility (enterprise) funds of three cities
The water and wastewater utility (enterprise) funds of three cities each paid $1 million in casualty insurance premiums. City A is insured by a small independent insurance company. City B is self-insu...
See AnswerQ: In 2017 Marquette County opened a landfill that was expected to accept
In 2017 Marquette County opened a landfill that was expected to accept waste for four years. The following table indicates the estimates county officials made at the end of each of the four years: Det...
See AnswerQ: Why are bond ratings of vital concern to bond issuers?
Why are bond ratings of vital concern to bond issuers?
See AnswerQ: Indicate the activities accounted for in both internal service funds and major
Indicate the activities accounted for in both internal service funds and major enterprise funds. Comment on whether any of these activities could also have been accounted for in a general or other gov...
See AnswerQ: How are the internal service fund activities reported in the government-
How are the internal service fund activities reported in the government-wide statement of net position? How are they reported in the proprietary funds statement of net position?
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